Thélem assurances, a mutual insurance company with a network of 268 branches throughout France, has selected CACEIS to provide custody services for its assets.
CACEIS will also provide securities accounting, look-through reporting and data processing services Solvency II - compliant.
Thélem assurances CFO Benoit Jullien stated, ”Until now, our assets have been held in several custodians. Centralising them with a single one, and thus within one information system, will simplify our processes. At the same time, we have sought to delegate the securities accounting activity in order to focus resources on projects with greater potential for added value. CACEIS’s servicing expertise was also a key factor in our decision.”
Philippe Bigeard, in charge of institutional clients at CACEIS in France, added, ”We are proud to have been selected as Thélem assurances’ sole service provider. Going forward, they will benefit from the knowledge of our Solvency II solutions designed for institutional investors, a resource already used by many players including insurance and mutual companies alike.”
CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.6 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2016).