AXA XL alternative capital team selects Clearwater Analytics for investment accounting services | Insurance Business America
Reinsurance
AXA XL alternative capital team selects Clearwater Analytics for investment accounting services
Solutions set to simplify accounting workflows and reporting
Reinsurance
By
Kenneth Araullo
Clearwater Analytics, a global provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has been chosen by property and casualty (P&C) re/insurer AXA XL’s alternative capital team to support part of its investment portfolio.
Following a detailed evaluation of available investment management reporting solutions, AXA XL’s alternative capital team explained that it selected Clearwater for its reliability, accuracy, and ability to meet complex accounting and regulatory needs, including customized general ledger entries.
“We’re incredibly excited to welcome AXA XL as a Clearwater client,” Clearwater Analytics general manager of EMEA and APAC Keith Viverito (pictured above) said.
He noted that Clearwater’s mission is to provide solutions that simplify investment management, accounting workflows, and reporting.
“Our solutions provide our clients with best-in-class investment analytics and a single source of truth for their investment portfolios across all asset classes. These solutions help them achieve their strategic growth and investment objectives and navigate a constantly evolving regulatory landscape.”
AXA XL offers insurance and risk management products to mid-sized companies and large multinationals, as well as reinsurance solutions globally.
Appointments for AXA XL
In other recent developments, AXA XL announced in May that Matthew V. O’Malley was appointed to the role of chief client & distribution officer for the Americas.
As the firm’s new chief client & distribution officer for the Americas, O’Malley will be overseeing the firm’s US zonal teams, Canada and Bermuda country distribution, client engagement, broker engagement, and marketing activities in the region. He will also be fostering long-term partnerships by working with clients and distribution partners.
In April, the re/insurer also elevated Neil Cole to the position of global chief underwriting officer for its marine sector.
In this new capacity, Cole is tasked with steering the strategic course and facilitating the growth of AXA XL’s marine insurance portfolios. His responsibilities will include overseeing the development of global product strategies, pricing, and risk aggregation, functioning within the framework of AXA XL’s global chief underwriting office (GCUO).
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