MetLife, one of the 10 largest life insurance companies in the world, has signed an agreement with Kamakura to extend its enterprise-wide Kamakura Risk Manager (KRM) software implementation to include calculation and reporting of Basel ll capital requirements.
MetLife, which has over $527 billion in assets, has been relying on the KRM application in its investment department and its affiliated banking company since 2003. MetLife is also a subscriber to the Kamakura Risk Information Services default probability and correlation service.
“MetLife has steadily increased its reliance on Kamakura Risk Manager since the initial installation in 2003,” said Rich Owens, vice president in the Portfolio Management Department at MetLife. “The integration of credit risk, market risk and asset/liability management that Kamakura offers is unique in the industry. That integrated view of risk is something we are seeking to take full advantage at MetLife Investments.”