Lifetri selects CACEIS for outsourcing asset management middle and back-office
The Dutch insurer Lifetri Group has selected CACEIS for the outsourcing of the middle and back office of its asset management organisation. Lifetri is a provider of life, funeral and term life insurance and works with pension funds and insurers to provide innovative solutions for participants in the field of guaranteed pensions. CACEIS, which acquired KAS BANK in 2019, is the leading European specialist in asset servicing.
CACEIS' outsourcing service to Lifetri includes full investment administration, transaction processing and investment reporting. This allows Lifetri to fully focus on its growth in the insurance and pension market.
The outsourcing enables Lifetri to continuously monitor its investments and have an integrated view on all internally and externally managed portfolios. The services of CACEIS are implemented by the European Centre of Excellence using the latest version of partner SimCorp Dimension. CACEIS supports the front office, executes the post-trade processes and reports on the investments.
Han Rijken, Chief Investment Officer of Lifetri on the cooperation: "By outsourcing, Lifetri is assured of a state-of-the-art asset servicing process. This is an important pillar for our growth. It also allows Lifetri to focus on what we do best: building a robust and high-yielding investment portfolio that enables us to offer innovative, guaranteed insurance and pension products to Lifetri's customers.”
Sikko van Katwijk, Country Managing Director Netherlands and United Kingdom at CACEIS: "We are delighted to have been selected by Lifetri as a strategic partner to support its growth objective. As part of Crédit Agricole and Santander, two of Europe’s largest banking groups, we have the scale and expertise to operate as a one-stop-shop for all the needs of our insurance customers. With this partnership, we are further realising our commercial ambitions."
The life insurance company Lifetri Group includes Klaverblad Levensverzekeringen and Lifetri Uitvaartverzekering, with approximately 550,000 policyholders. It acquired the pension entitlements of 4,000 members of Stichting Pensioenfonds Allianz Nederland Groep, with invested assets of approximately EUR 850 million. Lifetri Group is a portfolio company of Sixth Street, a global investment firm with over $50 billion in assets under management. For more information, please visit www.lifetrigroep.com.
CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €4.2 trillion and assets under administration of €2.2 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2020).