Producer's National Corp. Selects SS&C to Power Asset Growth
SS&C Technologies (Nasdaq: SSNC) announced that Producer's National Corporation (PNC) has selected SS&C SmartSource to enhance its accounting and operations for alternative and fixed income investment portfolios.
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Rhea-AI Summary
SS&C Technologies (Nasdaq: SSNC) announced that Producer's National Corporation (PNC) has selected SS&C SmartSource to enhance its accounting and operations for alternative and fixed income investment portfolios. This platform will support PNC's three insurance companies: Unique Insurance, Viva Seguros, and Stonegate. SS&C SmartSource's AI-driven capabilities will allow PNC to diversify its asset classes while ensuring operational transparency and regulatory compliance, backed by SS&C's 35 years of insurance expertise.
Positive
- PNC selected SS&C SmartSource to manage accounting and operations for three insurance companies, enhancing operational efficiencies.
- SS&C's SmartSource offers flexibility and scalability, allowing PNC to focus on growing its investment portfolio.
- The partnership showcases SS&C's 35 years of industry expertise, promising robust support for regulatory and reporting requirements.
Negative
- None.
Details
News Market Reaction – SSNC
The recorded move for SSNC in the trading session of this news was -0.51%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WINDSOR, Conn., May 18, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Producer's National Corporation (PNC) has chosen SS&C SmartSource to manage accounting and operations across its alternative and fixed income investment portfolios. The platform will service PNC's three insurance companies: Unique Insurance Company, Viva Seguros Insurance Company, and Stonegate Insurance Company. SS&C SmartSource will also support the PNC team as it adds new asset classes to its investment lineup.
"SS&C's extensive insurance expertise and cutting-edge technology enables it to provide us with a single accounting, reporting, and regulatory solution for our investment portfolios," commented Todd Barton, Chief Financial Officer of PNC.
"SmartSource offers flexibility and scalability, along with operational and portfolio transparency, to allow our internal team to focus on what we do best – manage and grow our portfolio of investments," added Paul Nealon, Co-Founder & Managing Partner at ILS Capital, PNC's major shareholder.
SS&C SmartSource provides intelligent, comprehensive outsourcing solutions for middle- and back-office services powered by Singularity, SS&C's next-generation, AI-driven investment analytics, operations and accounting platform. The solution is backed by SS&C's 35 years of insurance-specific domain expertise with complex asset types and regulatory and reporting requirements.
"We are delighted to power PNC's investment accounting operations," said Kyle Fields, Head of SS&C Insurance Solutions. "As we continue to see convergence of insurance and alternatives, we look forward to supporting the PNC team with the tools they need to scale and diversify into more complex asset classes."
About Producer's National Corporation
Producer's National Corporation (PNC), founded in 1996, is an insurance holding company based in Niles, Illinois. PNC is transforming its operations and building a platform of member companies to expand its core non-standard auto business while partnering with proven leaders to expand into niche lines of business. Its current members include Unique Insurance Company, Viva Seguros Insurance Company, and Stonegate Insurance Company.
About ILS Capital Management
ILS Capital Management Ltd. is an employee-owned SEC-registered investment advisor with
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
SOURCE: SS&C
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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SOURCE SS&C
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