SimCorp announces the successful implementation of its investment management system SimCorp Dimension at Scor, the world's fifth largest reinsurance group.
SCOR uses the strategic platform for domestic and international asset management.
The SCOR group is a reinsurer with worldwide operations and with specialist teams operating in more than 49 countries across 5 continents. Headquartered in Paris, SCOR's clients consist primarily of insurers and large corporations.
SCOR chose the SimCorp Dimension solution for its investment accounting and back office operations in April 2007. SimCorp Dimension has replaced SCOR's former portfolio management solution.
The solution, effective since June 2008, handles SCOR's back office investment management activities. Today, all SCOR portfolios are handled by SimCorp Dimension ensuring an efficient operational workflow for SCOR's global investment management.
SCOR will ultimately use SimCorp Dimension to support its back-office and accounting activities in Europe, North America and Asia. As a global player, it has been important for SCOR that SimCorp was present in the US and Asia and is able to handle multiple accounting standards.
Managing Director Troels P. Jensen, SimCorp Benelux, says: "We are very pleased with the successful implementation of SimCorp Dimension, thanks to a fruitful cooperation with SCOR".
SimCorp Dimension is a fully integrated system with no need for middleware. Therefore, the implementation of the system has run very smoothly. SCOR went into production after an implementation period of 15 months.