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Rothesay Life appoints Northern Trust to provide middle office services

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Northern Trust has been appointed by Rothesay Life, a provider of regulated insurance solutions in the UK pension risk transfer market, to provide middle office services for a portfolio of over GBP20 billion in assets under management.

A major insurer, asset owner and long-term investor, Rothesay Life currently insures more than 400,000 people and invests across multiple sectors of the UK economy including transportation, infrastructure, housing and utilities.
 
It is being supported on Northern Trust’s technology platform, which provides an operating model able to support all asset classes and investment strategies, as well as delivering flexibility in data management and reporting.
 
“For insurers such as Rothesay Life this flexibility, and the capability to track wide-ranging securities portfolios in real time, provides valuable support in meeting the complex requirements imposed on the industry by Solvency II, as well as broader governance, supervision and regulatory disclosure,” says Wilson Leech (pictured), head of Northern Trust in EMEA.
 
“We appointed Northern Trust based on their understanding of our investment philosophy and ability to meet our business needs,” says Jonathan Sarkar, chief operating officer at Rothesay Life. “Their ability to support our general ledger and treasury management requirements were among key reasons for their appointment.”
 
“We are very pleased to be appointed by Rothesay Life,” says Peter Sanchez, head of middle and back office asset servicing for alternative managers. “Sophisticated investors such as Rothesay Life require the capability to carry out intraday trading and expect very close management of their assets on a day-to-day basis. As their asset servicer and middle office partner, our technology can facilitate and support them from trade capture to cash, collateral management and treasury management.”
 
In addition to deep expertise in servicing insurance companies in pension risk transfers, Northern Trust’s insurance practice provides asset servicing and asset management solutions to a broad spectrum of clients within the sector, including life, property and casualty, pensions, protection and indemnity, captives, as well as the specialist Lloyd's insurance market in the UK.

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