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MSV Life selects FRS Invest|Pro™

  • MSV Life, Malta’s largest life insurance company , has selected Invest|Pro™ software from Financial Risk Solutions (FRS)
  • Invest|Pro™ will be used to calculate daily unit prices and run appropriations and trading for all unit-linked funds

Financial Risk Solutions (FRS), a leading provider of investment administration and compliance software, announces MSV Life, Malta’s largest life insurance company, has selected its Invest|Pro™ software for the administration of its unit-linked business.

Invest|Pro™ 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|Pro™ 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|Pro™ 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 adds, “Invest|Pro™ is an important element of a major I.T. 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 revolutionalise 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|Pro™ 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.”

MSV Life p.l.c. (MSV) is the leading provider of life insurance, long term savings and retirement planning in Malta. MSV is jointly owned between Bank of Valletta p.l.c. (50%) and MAPFRE Middlesea p.l.c. (50%).

About Financial Risk Solutions (FRS)

Financial Risk Solutions Ltd (FRS) is a leading provider of unit pricing and fund administration software to the life assurance and pensions industries. Its Invest|Pro™ product family is a recognised leading benchmark in the investment fund administration area and customers in life assurance and third party administration include the largest brands in the life insurance market and the outsourcing world.

Invest|GRC™ (Governance, Risk & Compliance). This is an asset reporting product that can consume data from the company’s investment and financial systems, from outsourcers and from other external data sources. It empowers senior finance, risk, audit, ops and admin staff to monitor risks and mandates, do rules management, manage breach occurrences, assist corrections and crucially produce asset reports (both regulatory reports and also risk management function reports).

Invest|Pro™ manages unit pricing and portfolio valuations, asset/liability unit matching, box management, trade order management, investment accounting, tax, financial reporting and compliance with investment mandates in a single application. Product types covered include unit linked funds, portfolio bonds, self-invested/directed pensions, shareholder funds and with-profit funds. Invest|Pro™ was specifically designed to securely automate complex fund administration processes.

Invest|OPS™ (Outsourcing Partner Supervision) automates the validation of operational activity performed by outsourcing partners. It provides methods for assessing the standard of performance of the service provider; enables the investment firm to supervise the outsourced functions and to manage the risks associated with outsourcing. It also provides the firm with effective access to the data associated with the outsourced activities. For more information visit http://www.frsltd.com

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