MSIG Singapore Prepares for International Reporting Standards, Including IFRS 9, with Clearwater Analytics

Leading Singapore Insurer Adopts Clearwater to Automate Investment Accounting, Risk, Compliance, and Regulatory Reporting

SINGAPORE, March 7, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that leading general insurer MSIG Singapore has selected Clearwater Analytics to power its investment data management, portfolio analytics, and investment reporting operations. MSIG Singapore, part of MS&AD Insurance Group, is one of the leading general insurance companies in Singapore.

MSIG Singapore will leverage Clearwater's single instance, multi-tenant technology platform to gain a comprehensive view of investment portfolio reporting and analytics. MSIG Singapore employees will benefit from having reconciled, consistent data at their fingertips to holistically view their entire investment portfolios. By having the flexibility to conduct digital reporting, investment teams and regional stakeholders will be able to comply with international reporting standards, including IFRS 9. As a result, MSIG Singapore users will be able to quickly close their books, comply with international reporting standards, reduce costs, and free their time to focus on managing their portfolios and perform other higher-value functions.

"Our partnership with Clearwater Analytics signifies a crucial step in our commitment to excellence and adherence to global reporting standards," said Chock Ker Ching, Senior Vice President and Head of Finance, MSIG Singapore. "With Clearwater's advanced technology, we anticipate not only meeting but exceeding our reporting and compliance objectives. Adopting the Clearwater platform aligns with our vision to be at the forefront of innovation within the insurance industry."

"We're excited to welcome MSIG Singapore to our growing client community across Asia," said Shane Akeroyd, Chief Strategy Officer and President, Asia Pacific at Clearwater Analytics. "We believe our relentless focus on client success and innovation attracts industry leaders like MSIG Singapore that require superior technology to power the kind of reporting needed for today's complex, ever-changing regulatory environment."

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About MSIG Insurance

A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.

A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions.

MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group ? one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.

About Clearwater Analytics

Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater's trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.

SOURCE Clearwater Analytics