Financial Risk Solutions (FRS), a leading provider of investment administration and compliance software, announces that MSV Life, Malta's largest life insurance company, selected its Invest|ProTM software for the administration of its unit-linked business.
Invest|ProTM has been deployed on a 5-year licence to calculate daily unit prices and run appropriations and trading across MSV's unit-linked products. This will enable MSV to automate the cash flows between its policy administration system and its investment managers, more efficiently administer its growing fund-of-fund volumes, as well as maintain better governance of its investment activities.
Stuart Fairbairn, Chief Officer Business Development, says: "Having one dedicated system to manage everything around our unit-linked business is a real step forward in terms of efficiency. Invest|ProTM from FRS will also give us the opportunity to continue to scale our business efficiently as many activities will now be completely automated. The Invest|ProTM system is delivering exactly what we need and the specialist experience of the team at FRS is impressive."
David G. Curmi, CEO of MSV Life, says: "Invest|ProTM is an important element of a major IT project currently being undertaken in our company together with MAPFRE, CSI and Allfinanz (from Munich Re) to create a network of interconnecting systems which is expected to revolutionise the way we have been doing business. This will enable us to offer superior levels of service to our customers".
Frank Carr, CMO at FRS comments: "Invest|ProTM continues to attract life companies positioned for growth across Europe; FRS is focused on meeting the needs of insurers in a market currently concentrated on solvency II readiness for next January. We are proud to add MSV as our first Maltese life insurer to our growing list of clients."