Life insurance titan MetLife has signed an agreement with Kamakura to extend its enterprise-wide Kamakura Risk Manager software implementation to include calculation and reporting of Basel II capital requirements.
MetLife, which is both one of the world’s largest insurance firms and a leading US bank holding company, has been relying on the Kamakura Risk Manager (KRM) software in its investment department and its affiliated banking company since 2003. The company also subscribes to the Kamakura Risk Information Services default probability and correlation service.
Building upon this established relationship, the extension to MetLife’s KRM implementation will include Basel II-related tools for calculation and requirements reporting.
MetLife has steadily increased its reliance on Kamakura Risk Manager since the initial installation in 2003, commented Rich Owens, vice president of the portfolio management department at MetLife. The integration of credit risk, market risk, and asset/liability management that Kamakura offers is unique in the industry. That integrated view of risk is something we are seeking to take full advantage at MetLife Investments.