Northern Trust has won a $250 million mandate from the UK branch of Navigators Insurance, providing global custody and investment accounting.
Navigators, headquartered in New York, is an insurance holding company with offices in the US, UK and Europe.
We appointed Northern Trust because of their proven expertise in servicing insurance assets, said Frank McDonnell, Senior Vice President & Chief Financial Officer at Navigators.
We are delighted to have been appointed by Navigators, adding another insurance client to our growing group, said Douglas Gee, UK institutional sales manager for asset servicing at Northern Trust. We offer a specialist asset servicing solution that concentrates on addressing the needs of insurance companies such as the Lloyds insurance market in particular responding to the requirement for consolidated investment accounting data. Our web-based client portal, Passport, enables all our clients to access precise information about their assets, including integrated investment, risk, portfolio and market data, as well as analytics from third-party providers.