Northern Trust Enhances Statutory Reporting for Insurance Clients
CHICAGO -- December 06, 2012
Northern Trust has enhanced its reporting services for insurance companies,
combining statutory accounting and investment information to accumulate,
analyze and sort data into specialized formats required by regulators and
Two new reports assist U.S. insurance clients with their annual statement
filing and submissions to A.M. Best., a leading insurance credit rating
· Supplemental Investment Risk Interrogatories – Northern Trust organizes data
to meet the specific requirements of the investment related section of the
statutory annual statement.
· A.M. Best Supplemental Risk Questionnaire – Northern Trust sorts insurers’
investment portfolios by maturity groupings and by the asset type
categorization of A.M. Best.
“Insurance companies face an ever increasing burden in providing regulators,
stakeholders and credit rating agencies with investment accounting information
for their annual filings and their deadlines for submission,” said Dennis
Case, Insurance Services product manager at Northern Trust. “We are able to
provide this integrated reporting to our clients through our unique ability to
combine statutory and investment analytics data into one reporting platform.
Our goal is to lessen this burden so clients can focus on their core
Northern Trust’s integrated operations and technology platform enables reports
that combine statutory accounting information such as book value, market
value, accruals and cash reporting with factors such as duration, convexity
and ratings of fixed income assets to efficiently file reports that determine
a fund’s risk profile. The A.M. Best reports are available to U.S. insurance
clients for whom Northern Trust provides investment accounting services. The
reports are delivered to clients via Northern Trust’s multi-faceted online
portal, at year-end or at the frequency that suits clients.
Northern Trust provides a full range of asset servicing and asset management
solutions, including global custody, investment operations outsourcing and
investment sub-advisory services, to a broad spectrum of insurance clients
across the globe. Northern Trust's insurance client base and expertise
encompass life, general, pensions, protection and indemnity, captives and the
specialist Lloyd's insurance market in the UK.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment
management, asset and fund administration, banking solutions and fiduciary
services for corporations, institutions and affluent individuals worldwide.
Northern Trust, a financial holding company based in Chicago, has offices in
18 U.S. states and 16 international locations in North America, Europe, the
Middle East and the Asia-Pacific region. As of September 30, 2012, Northern
Trust had assets under custody of US$4.8 trillion, and assets under investment
management of US$749.7 billion. For more than 120 years, Northern Trust has
earned distinction as an industry leader in combining exceptional service and
expertise with innovative products and technology. For more information, visit
www.northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation
John O’Connell, +1 312-444-2388
Daniel Campbell, +1 312-444-3220
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