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.”