Pension Insurance Corporation Selects Risk Platform from Algorithmics to Manage Assets and Liabilities

Toronto / London - April 11, 2007 -

The Pension Insurance Corporation (PIC), a newly-accredited insurance company participating in the UK bulk annuity buyout market, has selected an in-house deployment of Algo Risk to manage the risk of their assets and liabilities. PIC aims to become the industry leader in the provision of pension insurance to UK defined benefit pension funds and annuity providers.

Algo Risk is an easy-to implement solution that provides unparalleled functionality through a combination of advanced portfolio analysis and valuation, risk management and risk-based decision support across the organization, in real time. This helps clients to achieve their objectives of increasing investment returns, complying with regulations and remaining competitive. The solution's underlying Mark-to-Future architecture is both asset class and risk factor agnostic, enabling the solution to span all holdings and investment strategies across the enterprise, whether the products are exchange-traded or over-the-counter.

"We believe that risk management is an essential component of the insurance solution we bring to our clients. We looked at a number of systems and found that Algorithmics understood the complex needs of our business," says Tracy Blackwell, Investment Partner at PIC. "Algo Risk gives us the toolkit to intelligently manage the risk of our assets. The ability to stochastically model our assets as well as our liabilities gives us a better insight into our overall risks and capital management."

"We are delighted with the addition of the PIC to the growing number of insurance clients who are now using Algo Risk to allocate their assets more effectively against their liabilities," says Dr. Andrew Aziz, Managing Director of Risk Solutions at Algorithmics. "With growing pension deficits, and increasing regulatory pressures to manage them, this has been a particularly strong trend in the insurance and pension fund industries. At the same time, it is also no coincidence that liability-driven investments are arguably one of the hottest investment products currently available in the market."

About Pension Insurance Corporation
Pension Insurance Corporation ("PIC") is a robust financial institution that provides substantial capacity for the pensions insurance market. Pension Insurance Corporation is overseen by a strategic board of unparalleled experience, and is authorised and regulated by the Financial Services Authority. PIC combines unparalleled expertise in liability acquisition, asset management, liability management and pension administration.

About Algorithmics
Algorithmics is the world's leading provider of enterprise risk solutions. More than 300 financial institutions rely on Algorithmics' software, analytics and advisory services to make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.

About Fitch Group
Fitch Group is the parent company of Fitch Ratings, a global rating agency dedicated to providing the world's credit markets with independent and prospective credit opinions, research and data. The Fitch Group also includes Derivative Fitch, an independent provider of a suite of ratings and comprehensive services for the credit derivatives market; Algorithmics, the world's leading provider of enterprise risk solutions; and Fitch Training, which offers high-quality analytical training for financial professionals. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com; www.algorithmics.com; www.fitchtraining.com; and www.fimalac.com.

© 2007 ALGO, ALGORITHMICS, AI & design, MARK-TO-FUTURE, ALGO CAPITAL, ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO RISK, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

Press Contact

Heather Smith
Senior Communications Manager
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email: Heather.Smith@algorithmics.com