Eagle Investment Systems’ Insurance Accounting solution has been selected by Intact Investment Management, to meet insurance accounting and regulatory reporting requirements.
Intact Investment Management Inc., a wholly-owned subsidiary of Intact Financial Corporation based in Montreal, Quebec, actively manages $15bn of assets for institutional clients including the operating insurance subsidiaries of Intact Financial Corporation as well as its company pension plan.
The firm is a longstanding Eagle client, utilizing the full suite of products – Data Management, Performance Measurement and Investment Accounting – deployed over Eagle ACCESS, Eagle’s secure private cloud.
IIM began exploring Eagle’s insurance accounting capabilities following the acquisition by Intact Financial Corporation of US specialty insurer OneBeacon Insurance Group last year.
Eagle’s insurance accounting platform delivered new capabilities and improved efficiencies, such as handling tax, statutory books and Schedule D regulatory reporting on a single platform.
IIM’s senior vice president and managing director Werner Muehlemann said: “We were impressed with Eagle’s ability to meet our complex U.S. insurance accounting and regulatory needs.
“Extending our use of Eagle to include insurance accounting seemed like a natural progression and we are excited to be running a truly integrated solution. As we look to continue to grow our business, it’s great to know we have a flexible technology platform that can scale with us.”
Eagle CEO Mal Cullen said: “We continue to see strong interest from insurers in our products and services, and are delighted IIM selected us to meet their insurance accounting needs.
“As a long-time client, it is a great endorsement of our approach as well as the quality of solutions and services that IIM continues to extend its use of Eagle across the organization. We look forward to continuing to grow with them as their business needs change and evolve.”
Source: Company Press Release