Press Release

Press Release

Catalina’s ACR partners with Clearwater for Investment Portfolio Data Services

Thursday, August 6, 2020

LONDON — Clearwater Analytics today announces that Asia Capital Reinsurance Group (“ACR”), a Singapore-headquartered reinsurance business, has implemented Clearwater for automated investment data aggregation, investment accounting and investment reporting.

ACR was acquired by Catalina Holdings (Bermuda) Ltd (“Catalina”), an industry leader in the legacy (re)insurance space and a long-time client of Clearwater, earlier this year as part of its international growth strategy.

The addition of ACR represents the increasing share of Asia-Pacific entities serviced via Clearwater, a global software-as-a-service (SaaS) solution for investment data. 

Clearwater’s flexible, cloud-based system makes it ideal for companies seeking to efficiently expand operations in new markets. For example, Clearwater eliminates manual processing by automating reporting for capital calls, distribution and NAV adjustments, as well as testing critical balances to ensure data validation accuracy.

With gross liabilities of over US$1 billion, ACR’s insurance portfolio extends across a broad geographic scope and wide range of business lines including property, motor, marine, agriculture, engineering and aviation. Clearwater now provides coverage for all of ACR’s investments, including accounting for Singapore GAAP and full handling of ACR’s alternative investments in limited partnerships.

With Clearwater, Catalina’s investment portfolio data is now reconciled and consolidated in Bermuda, Ireland, Malaysia, Singapore, Switzerland, the United Kingdom and the United States.

“Clearwater’s ability to aggregate and reconcile data on multiple continents allows our investment and accounting teams to analyse data in real time and make meaningful decisions,” said Campbell McBeath, Head of Treasury for Catalina Holdings. “Additionally, Clearwater's global client servicing resources provide continuous support for our teams in all regions.”

Clearwater offers a follow-the-sun client servicing model, with offices in India, the United Kingdom, and the United States that provide client servicing to system users in all time zones.

“We are pleased Clearwater’s global solution and servicing team continue to be a valuable resource as international firms like Catalina move into new markets,” said Gayatri Raman, Head of EMEA and APAC for Clearwater Analytics. “The Clearwater solution has proven time and again that it is the best solution for accounting and reporting for complex assets throughout the world.”

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About Catalina Holdings

Catalina Holdings (Bermuda) Ltd (“Catalina”) is a long-term consolidator in the non-life insurance/reinsurance run-off sector. Catalina was established in 2005 to focus solely on the acquisition and management of non-life insurance/reinsurance companies in run-off. Since its foundation, Catalina has acquired or reinsured $9bn of non-life insurance and reinsurance liabilities. Catalina has received approvals from Bermudian, Irish, Malaysian, Singaporean, Swiss, UK (PRA and FCA) and various US state insurance regulators for prior acquisitions and reinsurance transactions. Catalina operates from 11 global offices situated across the United States, Bermuda, Ireland, United Kingdom and Switzerland. For further details about Catalina’s acquisitions or its management team please refer to www.catalinare.com.

About Clearwater Analytics

Clearwater Analytics is a global SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting. Clearwater helps thousands of organisations make the most of their investment portfolio data with a world-class product and client-centric servicing. Clearwater offers a full complement of middle- and back-office solutions like trade confirm/affirm, client billing, composite management, client statements, and more.

Each day, the Clearwater solution reports on more than $4 trillion in assets for clients that include Arch Capital, Catalina Holdings, Cisco, Convex Group, Facebook, FBD Insurance, Garmin, J.P. Morgan, London & Capital, Oracle, Starbucks, Spotify, Unum Group, and many others.

Since its founding in 2004, Clearwater has provided a cloud-native solution that helps investors make the most of their data. Investment professionals in more than 49 countries trust Clearwater to deliver timely, validated investment data and in-depth reporting.

Additional information about Clearwater can be found at www.clearwater-analytics.com

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Contact: 
Alex Goochey | +1 208 489 3909 | agoochey@clearwateranalytics.com