FEATURE/Tillinghast - Towers Perrin and Annuity Systems, Inc. Announce Strategic Alliance.Business Editors FEATURE... NEW YORK--(BUSINESS WIRE FEATURES)--May 29, 2001 Tillinghast - Towers Perrin Towers Perrin is a global professional services firm. It was established 1 March 1934 as Towers, Perrin, Forster & Crosby. The umbrella name of Towers Perrin was adopted in 1987. and Annuity Systems, Inc. (ASI ASI, n See Anxiety Sensitivity Index. ) have announced an equity risk management alliance dedicated to providing risk management solutions for companies providing equity-based insurance products worldwide, including variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. , equity-indexed annuities, segregated funds and unit-linked products. In the alliance, Tillinghast - Towers Perrin and ASI jointly provide the tools and techniques needed for a complete and innovative risk management solution. RisQ(TM), a risk management system utilizing the latest technology developed by ASI, monitors and manages the exposure from guarantees provided on equity-based insurance products on a real-time basis, with a live feed to the capital markets. Tillinghast - Towers Perrin will provide the risk management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services and product expertise needed to integrate this system into the life insurer's risk management process. Risks addressed in this context include the economic risks from payouts under the guarantees and the loss/volatility of revenues, accounting exposure and operational risks. "Regulatory and rating agency scrutiny in the U.S. and Canada has increased, both on products with investment guarantees and on how the companies are managing the risks associated with these products," said Charles Gilbert Charles Gilbert may refer to:
Alliance Provides New, Advanced Tools to Life Insurance Industry "The alliance offers insurance companies a complete risk management package enabling better management of the risks associated with investment-guarantee offerings," said Dr. K. Ravindran, ASI's founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It also combines Tillinghast - Towers Perrin's global reach and expertise with ASI's leading-edge risk management system and asset management experience." "Global demand for this type of risk management service offering is very strong in the insurance industry", according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tillinghast - Towers Perrin Principal Hubert Mueller, who is coordinating this product offering worldwide. "Joint projects are already under way in both North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and European markets for a number of insurance companies", according to Mueller. About Annuity Systems, Inc. Annuity Systems Inc. (ASI) is the brainchild of Dr. K. Ravindran, a pioneer in holistic risk management and a leading expert in the world for quantifying, monitoring and managing equity-based investment product-related risks. Created in May 2000, ASI's mission statement is to create a comprehensive risk management system that allows any user to easily analyze, monitor and manage these exposures. With clients in Europe and North America, ASI provides a systems-based risk management solution that combines dynamic hedging Dynamic hedging A strategy that involves rebalancing hedge positions as market conditions change; a strategy that seeks to insure the value of a portfolio using a synthetic put option. , reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and product development. Furthermore, in providing this system to its clients, ASI has developed an "open architecture technology platform" that allows users of RisQ(TM) the flexibility of integrating it with any actuarial software, model or data feed vendor whose services they may already be subscribing to. About Tillinghast - Towers Perrin and Towers Perrin Reinsurance: Tillinghast - Towers Perrin and Towers Perrin Reinsurance help clients improve business performance through quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: , insight, execution and risk transfer solutions. Tillinghast - Towers Perrin provides actuarial and management consulting to the financial services industry worldwide. In addition, our risk management practice consults to a wide range of companies beyond the financial services market, and our health sector practice consults to organizations that finance and manage health care risks. We work with clients to develop strategies that are tailored to their needs. Tillinghast - Towers Perrin and Towers Perrin Reinsurance are part of Towers Perrin, one of the world's largest independent management and human resource consulting Services Provided Human Resource Consulting firms provides advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. firms, with over 9,000 employees and 78 offices in 74 cities worldwide. Towers Perrin helps organizations improve business performance and manage their investment in people, advising them on human resource strategy and management, organizational effectiveness, compensation, benefits and communications. |
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