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SS&C Launches Investment Accounting and Reporting Services in Support of Non-Traditional Asset Classes
Feb 26, 2015

WINDSOR, Conn., Feb. 26, 2015 (GLOBE NEWSWIRE) -- SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced the launch of its accounting and reporting service for insurance companies in support of non-traditional assets.

The move comes as the insurance industry has been searching for ways to enhance risk-adjusted return, given the continued challenge of a low interest rate environment. Managing non-traditional assets requires complex investment accounting and reporting often not supported by insurance companies' legacy systems.

"Traditionally accounting and reporting for Schedule BA assets and syndicated bank loans has been largely manual and managed on spreadsheets. Insurers reaching for yield are turning to these non-traditional asset classes as they typically provide higher returns in the long run," said Tim Reilly, Senior Vice President and General Manager, SS&C Institutional and Investment Management. "Outsourcing accounting and reporting to SS&C moves these assets off spreadsheets to a more controlled environment and rigorous process. SS&C's service, available as part of a full service offering or on a component outsourcing basis, enables insurers to automate accounting and reporting of these investments."

SS&C's service automates the accounting and reporting of non-traditional assets, which are seamlessly integrated with General Ledger and Treasury applications. Insurers benefit from web-based reports which are customized to fit individual requirements.

SS&C's services for syndicated bank loans include tracking the lifecycle of loans and secondary events, reconciliations between custodians, agent banks, and asset managers, balancing of Schedule Ds as well as valuation and reporting. SS&C's full administrative service for Schedule BA assets, such as limited partnerships, includes the recording and posting of all partnership activity, reconciliation to partnership statements, GAAP equity method accounting, and reporting on a STAT, GAAP and a tax basis.

The adoption of SS&C's outsourcing services and expertise by insurance companies is driven by several specific, escalating challenges. These include growing competition for higher returns, tighter operating budgets and the need for specialized talent and technology to handle new accounting and regulatory reporting requirements. SS&C has more than 600 accounting professionals providing investment accounting and financial reporting expertise to financial services organizations worldwide. More than 500 insurance companies, including 75 of the top 100, trust SS&C as their investment accounting provider.

About SS&C Technologies

SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 6,900 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $26 trillion in assets.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.

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CONTACT: Patrick Pedonti

         Chief Financial Officer

         Tel: +1-860-298-4738

         E-mail: InvestorRelations@sscinc.com



         Justine Stone

         Investor Relations Coordinator

         Tel: +1- 212-367-4705

         E-mail: InvestorRelations@sscinc.com



         Media Contacts



         Sarah Mason

         Metia (UK)

         Tel. +44 (0)20 3100 3613

         Email: ss&c@metia.com

         

         Kelly Holman

         BackBay Communications (US)

         Tel: +1 212 520 1385, ext. 4

         Email: ss&c@metia.com

Categories: Press Releases
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Patrick Pedonti 
Chief Financial Officer, SS&C Technologies 
Tel: 1-860-298-4738 
E-mail: InvestorRelations@sscinc.com

Justine Stone Investor, Relations, SS&C Technologies
Tel: 1- 212-367-4705
E-mail: InvestorRelations@sscinc.com

Media Contacts 
Sean Welch 
PAN Communications
Tel: (407) 734-7330
E-mail: ssc@pancomm.com