RNA Analytics Limited (RNA Analytics) today announced it has acquired the assets and technology of IBM® Algo Financial Modeler®, an actuarial, risk and financial modeling software solution suite.
Current IBM® Algo Financial Modeler® clients will continue to be supported by the RNA Analytics team transitioning from IBM®, many of whom have been working with Algo Financial Modeler® since its original release in 2006. Existing license users can continue to use the solution as before and will receive further announcements as the solution suite is transitioned into RNA Analytics’ support structure.
“As always, our key focus is on the clients and their requirements, this opportunity will allow us to concentrate on the service and software innovation required to provide customers with a market leading analytics offering for the actuarial and risk management functions. The clients using Algo Financial Modeler® will continue to benefit from the advanced solution features and our expanding consulting services around the world” said Mr Andrew Blackburn, who will serve as the Consulting Director for RNA Analytics.
Development, partnerships and acquisitions will continue to shape RNA Analytics’ strategic focus of creating the highest level of solution offerings underpinned by innovative technology to drive client satisfaction, long term global growth and employee and shareholder value.
This transaction combines a world-class portfolio of technology, business and people to generate sustained growth and drive significant long-term value. “For more than a decade, one of the most powerful risk software solutions on offer to the actuarial world has been the Algo Financial Modeler® suite”, stated Mr Harry Kim, Board of Directors, RNA Analytics.
He added: “We now have the opportunity to work with the clients much more closely and provide cutting edge innovation from both the technology and consulting elements. This will be achieved by not only providing the underlying software but also through an increased consulting presence across the regions”
Mr Neil Collins, current Offering Manager, will serve as the Technical Director for RNA Analytics overseeing the product development, further enhancing and maximizing the value of the offerings, especially in two key development areas due to the expansion of Solvency II style regulations and the future implementation of IFRS17 around the world.
The acquisition cements the highly integrated solution and consultancy businesses for the long-term benefit of all current and future clients.