US-based SS&C Technologies has acquired Prime Management Limited, a Bermuda based insurance linked securities fund administrator, which has US$6 billion in assets under management.
Prime currently provides services to 25 managers from its Bermuda and Canadian offices with its client base ranging from emerging managers to large institutional managers.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
This deal will further expand 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, and advice and support to clients on best practices for establishing ILS fund structures.
Bill Stone, chairman and CEO of SS&C Technologies, said: "The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients."
John Whiley, head of ILS administration at Prime Management, said: "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."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
