State Street Appointed By Pinnacol Assurance

State Street will provide full service custody and accounting services as well as compliance monitoring and performance and analytics solutions for Pinnacol Assurance’s $1.9 billion assets. Pinnacol is a Colorado provider of workers’ compensation insurance.

“According to our newly published research on the insurance sector, 82% of insurers globally say that effectively allocating capital to the most business critical priorities represents a challenge for them today, said Alan Greene, executive vice president of investment services and institutional services for the Americas at State Street.

“Partnering with companies like State Street to manage functions like custody, accounting and analytics helps insurance companies to focus more of their resources on growing their business.”

State Street’s study on the insurance sector, “Facing the Future: Blueprint for Growth,” was conducted jointly with The Economist Intelligence Unit. It surveys more than 300 insurance executives globally, highlighting three broad categories affecting the insurance industry that include risk, regulation and the restructuring of product offerings.