Thélem assurances, a mutual insurance company with a network of 268 branches throughout France, has selected CACEIS to provide custody services for its assets. CACEIS will also provide securities accounting, look-through reporting and data processing services Solvency II - compliant.
Thélem assurances CFO Benoit Jullien stated, ”Until now, our assets have been held in several custodians. Centralising them with a single one, and thus within one information system, will simplify our processes. At the same time, we have sought to externalise the ancillary securities accounting activity in order to focus resources on projects with greater potential for added value. CACEIS’s servicing expertise was also a key factor in our decision.”
Philippe Bigeard, in charge of institutional clients at CACEIS in France, added, ”We are proud to have been selected as Thélem assurances’ sole service provider. Going forward, they will benefit from the knowledge of our Solvency II solutions designed for institutional investors, a resource already used by many players including insurance and mutual companies alike.”