Munich Re Implements FI Exposure Management Solution

Munich Re one of the world’s leading insurance groups have sought to manage their financial institutions aggregate exposures by implementing ALPS from Russell Group. Munich Re previously entered into a three-year licence agreement to use ALPS in their Aerospace unit in 2008, where it is used to support aviation aggregate management and scenario modeling.

Alexander Stampf, Head of Financial Institutions at Munich Re said of the decision to deploy ALPS, "We were very impressed by both the ALPS solution and Russell Group’s service offering. ALPS has proven to be a flexible and robust tool for aggregate exposure management. It has clear data capture facilities and offers comprehensive modeling for exposure aggregation and what if scenarios. As a supplier Russell enjoys an excellent reputation amongst its clients for both delivery and ongoing support.”

Suki Basi, Managing Director at Russell Group said of Munich Re’s acquisition of ALPS, "We have had an excellent start to 2009 with Munich Re extending their use of ALPS to their financial institutions portfolio and, Paris Re and Allianz acquiring ALPS for their energy and aviation business units respectively. These decisions highlight the flexibility of ALPS to cater for different lines of business and fully endorses the investment and commitment we have made in the solution. We have enjoyed working with both units at Munich Re and look forward to a long and enduring relationship with the company.”