German insurer Arag licences SimCorp Dimension

Source: SimCorp

German ARAG Group, one of the largest legal insurers in the world, has licensed market leading software SimCorp Dimension for the management of its assets.

The software will be applied for national accounting as well as for IFRS. Main aspect for ARAG, besides the front-to-back functionality from dealing to settlement, was the comprehensive coverage within risk management, especially with regards to Solvency II and the German MaRisk regulation. Additionally, the possibility of parallel book keeping facilitates the use of SimCorp Dimension in the group's subsidiaries' accounting.

"Powerful asset management software is essential when trying to offer competitive insurance products", says Gregor John, director of Asset Management at the ARAG Group. "This is exactly SimCorp's core competence area."

"Thanks to the modular structure of SimCorp Dimension we are able to provide our customers exactly the needed functionalities", explains Dr. Jochen Müller, managing director of sales and product management, SimCorp GmbH. "When further requirements arise, the corresponding functionalities can be added at any time."

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