LONDON, Dec. 13, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been named best securities servicing provider in this year's Insurance Risk Awards.
The award recognises companies that have demonstrated innovative thinking and cutting-edge solutions in response to the risk-management challenges faced by the insurance industry. Insurance Risk commended BNY Mellon for flourishing in a number of areas this year, chief among them collateral solutions, asset administration and regulatory compliance.
Hani Kablawi, Chief Executive of EMEA Asset Servicing at BNY Mellon, said: "Securities servicing is central to the solutions we offer insurers to help them manage and service their investments, whether by safekeeping assets, servicing insurance trusts, providing flexible data solutions or addressing their collateral requirements. Each year we invest heavily in developing intellectual capital, new technology and innovative products and services to ensure that we can tailor our solutions to meet the evolving needs of both small and large insurers."
BNY Mellon's clients include 75% of the top 100 life insurance companies and 70% of the top 50 property and casualty companies[1]. It helps insurers manage and service their investments, and holds a range of assets for them including cash, stocks, loans, mutual funds and property.
Paul Traynor, International Head of Insurance Services at BNY Mellon, added: "As the world's largest provider of investment services we remain fully committed to supporting the insurance industry to help it adapt to the fast-moving and complex regulatory environment. This award is testament to the flexible and reliable service we offer to our insurance clients, and is a reflection of the industry segment expertise that we offer them on all aspects of securities servicing."
The winners of the 2013 Insurance Risk Awards were selected by Insurance Risk and industry experts, and are based on written submissions and follow-up interviews. Insurance Risk provides in-depth analysis of the risk and capital management issues affecting the insurance sector.
Notes to editors:
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 September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration and $1.5 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 or follow us on Twitter @BNYMellon.
[1] A.M. Best rankings publication as of December 2012, compared to BNY Mellon client data as of 31 October 2013
SOURCE BNY Mellon