State Street to Service $4 Billion in Assets for EMC

  State Street to Service $4 Billion in Assets for EMC

Business Wire

BOSTON -- September 9, 2013

State Street Corporation (NYSE:STT), announced today that it has been
appointed by EMC Insurance Companies to provide full custody and investment
analytics services. EMC is one of the top insurance organizations in the
country.

“After an extensive review of several custody and administration service
providers, we selected State Street because of its expertise in custody,
accounting and reporting solutions,” said Lisa A. Stange, vice president and
chief investment officer of EMC Insurance Companies. “We were looking for a
provider committed to developing solutions that will address our growth needs
and support our investment strategies.”

“We are extremely pleased to be selected by EMC Insurance Companies,” said
Alan Greene, executive vice president of State Street. “As insurers look to
meet new reporting and regulation challenges as well as update disparate
legacy systems, they need to evaluate how their firms are operating within an
evolving market. Determining whether they have the right infrastructure in
place or looking to outsource to external parties to help satisfy all these
new requirements are important considerations. A recent study on the
challenges and opportunities facing the insurance sector highlighted many of
these concerns.”

State Street’s study was conducted jointly with The Economist Intelligence
Unit, which surveyed more than 300 insurance executives globally and focused
on the key industry issues facing the insurance industry and their
preparedness to meet those challenges. The study, “Facing the Future:
Blueprint for Growth,” highlights three broad categories affecting the
insurance industry that include risk, regulation and the restructuring of
product offerings. To learn more about State Street’s insurance research,
please visit http://www.statestreet.com/ourbusiness.

About EMC Insurance Companies

EMC Insurance Companies is among the top 60 insurance organizations in the
country based on net written premium, with more than 2,100 employees. The
company was organized in 1911 to write workers’ compensation protection in
Iowa. Today, EMC provides property and casualty insurance products and
services throughout the United States and writes reinsurance contracts
worldwide. Operating under the trade name EMC Insurance Companies, Employers
Mutual Casualty Company and one or more of its affiliated companies is
licensed in all 50 states and the District of Columbia. For more information,
visit www.emcins.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers
of financial services to institutional investors including investment
servicing, investment management and investment research and trading. With
$25.7 trillion in assets under custody and administration and $2.1 trillion in
assets under management at June 30, 2013, State Street operates in more than
100 geographic markets worldwide, including the U.S., Canada, Europe, the
Middle East and Asia. For more information, visit State Street’s web site at
www.statestreet.com.

This AUM includes the assets of the SPDR Gold Trust (approx.$37 billion as of
June 30, 2013), for which State Street Global Markets, LLC, an affiliate of
State Street Global Advisors, serves as the marketing agent.

Contact:

State Street Corporation
Jan Symosek, +1-617-664-1898
www.statestreet.com
@StateStreet
 
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