Suravenir Sign Barrie & Hibbert

Online, June 22, 2011 (Newswire.com) - SURAVENIR SIGN BARRIE & HIBBERT

Suravenir, a subsidiary of Credit Mutuel Arkea and Credit Mutuel Loire-Atlantique and Centre-Ouest has selected Barrie & Hibbert to provide their ESG (Economic Scenario Generator) in preparation for Solvency II compliance.

One of the largest life insurance and pension providers in France with over 1.5 million contracts, Suravenir has selected Barrie & Hibbert because of the company's reputation as market leaders in the area of economic scenario generation.

With the European Union's Solvency II capital adequacy standard for insurers set to be adopted by the end of 2012, Barrie & Hibbert, which has one of the largest teams in the world committed to the development and delivery of the best stochastic models and calibration, will work closely with Suravenir to ensure the relevant processes are integrated.

Lionel Bouquet, Technical Director at Suravenir, comments: 'The high level of expertise and the transparency of the Barrie & Hibbert solutions have been very important in our decision. We decided to go with Barrie & Hibbert as we knew they are market leaders in this area and we could benefit from their expertise.'

Alexis Bailly from Barrie & Hibbert adds: 'We are very delighted with the decision of Suravenir which further strengthens our presence among regional insurers in France and we look forward to supporting them on all their stochastic modeling requirements.'

-ENDS-
For further information, contact Sharon McLaughlin, McLaughlin Gibson Communications Ltd: Email:[email protected], Tel: 00 44 141 440 6797
Editors Notes:

1. Suravenir which has over 250 employees specialises in the design, manufacture and management of contracts of life insurance and pension.

2. Founded in 1995, Barrie & Hibbert is a leader in modelling financial market risk, providing
stochastic models, economic scenarios and risk management products to insurance and financial services groups around the world. Currently there are offices in Edinburgh, London, New York and Hong Kong.

3. Globally over $10 trillion of insurance and pension assets and liabilities are now managed with the support of our products and services.
For further information visit: www.barrhibb.com

4. For the second consecutive year, Barrie & Hibbert was named Best Provider of Economic Capital & Scenario Generation in Life & Pension Risk magazine's awards 2010.