Barrie & Hibbert has announced a new contract with one of Australia's biggest insurance providers.
Allianz Australia Insurance Limited, which has over 2 million policy holders and offers a wide range of insurance and risk management products and services, will be using Barrie & Hibbert's economic scenarios from 2009 onwards.
The utilisation of these scenarios will become a critical component to Allianz Australia's internal capital measurements as required by the Australian Prudential Regulatory Authority (APRA). Allianz Australia will be using AUD real-world scenarios across all major asset classes.
Shailendra Jain, Head of Asia Pacific for Barrie & Hibbert: "This win strengthens our position within this market and we are delighted that Allianz Australia has selected us as a provider of choice for this critical area within their business. We strongly believe in working closely with clients and ensuring that they receive what they really need. I am sure this is the beginning of a strong and long relationship with another prominent client in Australia."
Since the opening of its Hong Kong office in October 2008, Barrie & Hibbert has been working in the region with other insurance providers offering their expertise to ensure compliance with the regulators. This win demonstrates the company's client service capabilities in Australia and the wider Asian markets.