Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

ILS fund administrator Prime Management acquired by SS&C


Prime Management Limited, Bermuda headquartered insurance-linked securities fund administrator and leading service provider to investment structures, sponsors and managers in the ILS market, has been acquired by SS&C Technologies Holdings, Inc.

Prime currently provides services to 25 managers with US$6 billion in assets under administration (AUA) from its Bermuda and Canadian offices. Prime’s client base ranges from emerging managers to large institutional managers.

The acquisition of Prime Management will build on SS&C’s ability to administer insurance linked securities and the funds which invest in them. This includes fund administration, accounting services specific to insurance linked securities, investor services, governance and compliance services, as well as providing advice and support to clients on best practices for establishing ILS fund structures.

“Investors are looking to diversify and are attracted to ILS. The knowledge of the Prime team, attention to customer service, and the addition of dedicated ILS expertise is a strategic fit for SS&C’s fund administration services,” commented Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients.”

“SS&C’s financial strength, combined with its fund services business and innovative solutions will enhance the high quality fund administration services that we provide to our clients,” added John Whiley, Head of ILS Administration, Prime Management Limited. “We are excited about joining the team at SS&C GlobeOp and being a leading institutional service provider in Bermuda.”

The Prime Management brand will continue to exist and its clients can expect continuity of service. The acquisition will enable Prime to grow its footprint in the space, broaden its services and offer its clients software and technologies developed by SS&C.

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