Belgium's Dexia Insurance is installing Barrie & Hibbert's Economic Scenario Generator (ESG) software to assist its Solvency II compliance calculations. The suite of stochastic asset modelling tools allows the insurer to assess group wide economic and regulatory capital needs, to develop capital management strategies and price complex embedded guarantees and options, improving group-wide risk management activities.
The ESG software suite installed by Dexia Insurance can be integrated with leading asset liability management (ALM) software and should fit easily into the Belgium-based insurer's operations.
Dexia Insurance is one of the largest providers of insurance in Belgium. In addition to its main clients in the life assurance sector, the company also serves the property & casualty, and pensions sectors.
Speaking about that installation, Jean-François Deschamps, Head of ALM and market risk management, at Dexia Insurance, said: "Barrie & Hibbert has a proven track record in the field of economic scenario generators. As a consequence, we approached them to deliver software which would provide us with advanced solutions to be able to meet the future technical challenges created by the impending Solvency II regulations [due in 2012]."
• For more on Solvency II please see the latest FST feature HERE
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