J.P. Morgan Worldwide Securities Services, a provider of global custody and fund services, has been appointed by Transatlantic Holdings, Inc., a leading international reinsurance organization, to provide global custody for the majority of its invested assets worldwide. Assets under custody total approximately $11 billion.
Transatlantic Holdings, Inc. is headquartered in New York and has operations on six continents. Its subsidiaries, which will all be serviced by J.P. Morgan, are Transatlantic Reinsurance Company(R), Trans Re Zurich Reinsurance Company Ltd and Putnam Reinsurance Company.
James Ready, vice president and treasurer of Transatlantic Reinsurance Company, said: “We are pleased with our selection of J.P. Morgan and the level of support and array of services they are able to provide to satisfy our global custody needs.”
Robert Caporale, head of new business development – Americas, J.P. Morgan Worldwide Securities Services, said: “We are pleased to add Transatlantic Holdings, Inc. as a new client to our North American insurance franchise. As such, the mandate is an excellent example of our ability to service the global custody needs of reinsurers.”
D.C.