Source: Barrie & Hibbert
The Economic Scenario Generator (ESG) – financial modelling software developed by financial risk consultancy, Barrie & Hibbert - has been licensed for use globally by Watson Wyatt in its Insurance and Financial Services practice.
Increasingly used by large financial institutions, the software generates economic scenarios for regulatory capital assessment, economic capital allocation, fair value accounting, identification and evaluation of capital management strategies and product design, development and pricing. The ESG model is designed to deliver a flexible framework that allows different modelling functionality to be selected according to individual client needs.
Philip Brook, Global Practice Director, Insurance & Financial Services at Watson Wyatt, said: "The ESG model is a market-leading product which addresses our needs and those of our clients. This is a welcome enhancement to our insurance and financial services practice. Together with our recently launched VIPitech software, a pioneering new modelling system which is used to model the business of insurers and other financial services organisations, we are in the best position to provide a seamless financial modelling service to our clients on a global platform."
Barrie and Hibbert Executive Director, John Hibbert, said: "Watson Wyatt is a leading consultancy globally in providing risk and financial management advice to insurers. I am delighted Watson Wyatt has chosen our ESG model. Their global reach and broad portfolio of clients will certainly benefit us as we look to expand our ESG model in this dynamic market."