HONG KONG, March 30, 2017 /PRNewswire/ -- Eagle Investment Systems LLC, a BNY Mellon company, has been selected by AIA Group ("AIA") in connection with AIA's establishment of an Investment Book of Record (IBOR) and consolidation of the firm's investment management data sources onto one platform. AIA will implement Eagle's data management platform, inclusive of managed services, which will be deployed over Eagle ACCESSSM, a secure private cloud.
Hong Kong headquartered AIA is the largest independent publicly listed pan-Asian life insurance group with a presence in 18 markets across the Asia-Pacific region.
Mark Konyn, AIA Group Chief Investment Officer, said, "With the new platform we can improve operational efficiency and ensure greater data integrity as we scale our operations and deepen our front office analytics."
"This is another milestone for Eagle in the region, AIA represents our first client in Hong Kong, joining a growing number of Asia-based firms using the Eagle platform," said John Legrand, Managing Director for Eagle in EMEA and APAC. "We are seeing a growing demand for IBOR solutions as global investment firms seek to replace legacy platforms to manage investment risk, improve decision-making and ensure consistency in reporting. The flexibility of our solutions and our ability to scale to support growth, coupled with services delivered alongside our parent company BNY Mellon, ensures that we are well positioned to support our clients' needs."
The new architecture will provide AIA with a single consistent view of performance analytics, investment risk and compliance monitoring. The solution will also support the availability of consistent data for investment analysis and reporting.
Of the ten most recent new clients choosing the Eagle solution, eight of them relate to a need to support IBOR; with 25% from the APAC region.
Notes to editors
About AIA Group
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, mainland China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$185 billion as of 30 November 2016.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
Eagle Investment Systems
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSSM. 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 http://www.eagleinvsys.com/ or follow us on Twitter @Eagleinvsys.
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 and more than 100 markets. As of December 31, 2016, BNY Mellon had $29.9 trillion in assets under custody and/or administration, and $1.6 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. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Eagle Investment Systems LLC