Munich ERGO Asset Management Gesellshaft (Meag), which manages the assets of Munich Re and ERGO Insurance Group, has decided to extend its use of SimCorp Dimension to incorporate fund accounting.
The decision comes following successful use by Meag's insurance companies and capital investment company of the system's front office functionality since 1999.
The replacement of the asset manager's current fund accounting solution with modules of SimCorp Dimension reduces the number of interfaces amoung the different software systems Meag uses. In addition, further synergies are gained from having unified, intergrated software tools in the group.
"SimCorp Dimension has established itself in the market as software for fund accounting," stresses Gunter-Manuel Giehr, managing director at Meag responsible for IT within the group, amoung other business functions. "Using SimCorp Dimension we are consolidating our IT infrastructure and thereby further improving the efficiency of our processes along the value chain."
"We have a long-established business relationship with Meag," explains Georg Hetrodt, managing director of SimCorp GmbH. "Meag's decision to use SimCorp Dimension's fund accounting solution underlines our leading position as solution provider and partner of capotal investment companies."