Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, announced today that Intact Investment Management Inc. ("IIM") has selected Eagle's Insurance Accounting solution to meet its insurance accounting and regulatory reporting needs.
Intact Investment Management Inc., a wholly-owned subsidiary of Intact Financial Corporation based in Montreal, Quebec, actively manages US$15 billion of assets for institutional clients including the operating insurance subsidiaries of Intact Financial Corporation as well as its company pension plan. The firm is a longstanding Eagle client, utilizing the full suite of products – Data Management, Performance Measurement and Investment Accounting – deployed over Eagle ACCESSSM, Eagle's secure private cloud.
IIM began exploring Eagle's insurance accounting capabilities following the acquisition by Intact Financial Corporation of U.S. specialty insurer OneBeacon Insurance Group, Ltd. in 2017. Eagle's insurance accounting platform delivered new capabilities and improved efficiencies, such as handling tax, statutory books and Schedule D regulatory reporting on a single platform.
"We were impressed with Eagle's ability to meet our complex U.S. insurance accounting and regulatory needs," said Werner Muehlemann, IIM's SVP & Managing Director. "Extending our use of Eagle to include insurance accounting seemed like a natural progression and we are excited to be running a truly integrated solution. As we look to continue to grow our business, it's great to know we have a flexible technology platform that can scale with us."
"We continue to see strong interest from insurers in our products and services, and are delighted IIM selected us to meet their insurance accounting needs," said Mal Cullen, CEO at Eagle. "As a long-time client, it is a great endorsement of our approach as well as the quality of solutions and services that IIM continues to extend its use of Eagle across the organization. We look forward to continuing to grow with them as their business needs change and evolve."
About Intact Investment Management Intact Investment Management Inc. specializes in active management of stocks and fixed-income securities. The firm employs a team of approximately 50 professionals in its Montreal and Saint-Hyacinthe offices. The IIM team, considered one of the best in Canada by its peers, manages a wide range of asset classes across North America.
About Eagle Investment Systems LLC Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of enterprise data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSTM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com
About BNY Mellon BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2018, BNY Mellon had $33.6 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com.
