An increased focus on capital, risk management and transparency has put pressure on insurers like you to significantly modify operational models. As you shift product strategy away from capital-intensive products in favor of greater diversification, you’re looking to optimize your core business. At the same time, new operational challenges and changing demands of regulation and reporting are driving your need for accurate, timely and cost-effective solutions for accounting, safekeeping and reporting across investment portfolios.
State Street has been providing the insurance industry with market-leading accounting and reporting services since 1984. As a market leader, we are engaged in industry-wide discussions on new regulations that are significantly impacting your business, such as Solvency II and FATCA, and we are focused on developing products and services to help you meet the challenges of these new regulations.
Our integrated solutions give you reliable custody services, advanced global accounting solutions and expert regulatory reporting capabilities. To remain competitive, while still adhering to increased demands for transparency and regulatory reporting, you need a global partner with specialized expertise and a proven track record in insurance accounting. With our skilled staff, customized solutions and a commitment to thought leadership that keeps us engaged in emerging issues in the industry, State Street is a leader in servicing the insurance market.
As your investment accounting agent, State Street delivers flexible solutions that address the specialized requirements of insurance investment accounting and reporting. In conjunction with Princeton Financial®* and the PAM® suite of systems, we receive and process securities trading, settlement and corporate actions activity, while conducting valuations of holdings on a client determined frequency. We review and deliver the results of your accounting activity directly to your general ledger for inclusion in the financial reporting process of all company activities.
We give you customized security categories, full multi-basis and multi-currency capabilities, and a high degree of scalability and automation for the investment accounting of general and separate accounts, both actively managed and variable insurance products. Our custom, streamlined solution delivers up-to-date, aggregated information on your assets while reducing your need to maintain specialized talent and IT infrastructure. We also provide expertise to help you mitigate risks associated with investment accounting and reporting.
With a global custody network that spans more than 100 financial markets, we support your specialized requirements wherever you invest. Our solutions cover trade settlement, income collection, statutory deposit processing, private placement servicing and corporate reorganizations, as well as related services, including daily cash forecasting, automated daily cash sweep, bank loan processing and online reporting using the latest technology. Our comprehensive services are backed by the personalized support you expect.
*Princeton Financial LLC® is a wholly owned subsidiary of State Street.