SimCorp secures tech deal at Nordea Life & Pensions
SimCorp has signed a five-year licence agreement with Nordea Life & Pension, soon to be Velliv, for use of its investment management system, SimCorp Dimension, across the front, middle and back office.
Operating as a separate entity, Nordea Life & Pension will under this new agreement use SimCorp Dimension across its entire range of assets, worth approximately €23.5 billion.
Anders Stensbøl Christiansen, CIO at Nordea Life & Pension, says: “Having experienced the effectiveness of the system for a number of years as part of the Nordea Group, and seeing the continued dedication to research and development from SimCorp, we have no doubt this is the right solution for us.”
Earlier this year, Norliv, a member association for the customers of Nordea Life & Pension, acquired 70% of the shares in Nordea Life & Pension, to establish a customer-owned pension firm.
It will soon be rebranded as Velliv, under its new operational structure.
Nordea Life & Pension is the third largest commercial pension company in Denmark with 340,000 customers.