Dutch insurance firm Lifetri Group has appointed CACEIS for the outsourcing of its asset management middle- and back-office operations.
Under the outsourcing mandate, CACEIS will provide Lifetri with full investment administration, transaction processing and investment reporting services, enabling Lifetri to fully focus on its growth in the insurance and pension market.
“By outsourcing, Lifetri is assured of a state-of-the-art asset servicing process. This is an important pillar for our growth,” said Han Rijken, chief investment officer, Lifetri.
“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.”
The mandate will also enable Lifetri to continuously monitor its investments with an integrated view on all internally and externally managed portfolios.
The services of CACEIS are implemented by its European Centre of Excellence using the latest version of an order management system (OMS) delivered by its strategic partner SimCorp Dimension, allowing CACEIS to support both the front–office and execute post-trade processes and reports on the investments.
CACEIS, the asset servicing banking group of Credit Agricole has established itself as a leading European provider following its acquisitions of KAS BANK and Santander Securities Services last year.
Over the past year, CACEIS has been awarded asset servicing mandates from the likes of Candriam, KGAL Group and Axxion. It also partnered with Amundi to combine its middle- and back-office services with the French asset manager’s portfolio management system ALTO.
“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,” added Sikko van Katwijk, country managing director, the Netherlands and United Kingdom, CACEIS.