AG Insurance, which was formerly Fortis Insurance Belgium, has chosen the Pricing Partners service to perform independent valuation for some of its equity, funds and interest rates structured products.
“We wanted to challenge and double check the valuation provided by our counterparties for our OTC products. We were also interested in developing more expertise to follow and risk manage our investment strategies. We found out in Price-it online a product that offers accurate fair prices with models managing the same level of innovation and complexity as the one of the sell side” says Alain Bombo, senior financial consultant of finance and structured products for AG Insurance. “Beyond its proven accuracy, we were impressed with the service’s extensive coverage and quality of the support.”
With the current volatile and turbulent environment, insurance companies are looking for independent valuation source to monitor their structured products. Eric Benhamou, CEO of Pricing Partners, comments: “AG Insurance adds a key reference to our client portfolio and positions Pricing Partners as a leading provider of financial derivatives pricing solutions. And we anticipate that independent valuation for asset managers using structured products will become central to this activity to risk manage appropriately their positions.”