ILS Capital-controlled Producers National selects SS&C SmartSource
Producers National Corporation (PNC), which counts ILS Capital as its major shareholder, has selected SS&C SmartSource to manage accounting and operations across its alternative and fixed income investment portfolios.
SS&C SmartSource will service PNC's three insurance companies: Unique Insurance Company, Viva Seguros Insurance Company, and Stonegate Insurance Company. It will also support the PNC team as it adds new asset classes to its investment lineup.
Todd Barton, PNC’s chief financial officer, said: “SS&C's extensive insurance expertise and cutting-edge technology enables it to provide us with a single accounting, reporting, and regulatory solution for our investment portfolios."
Paul Nealon, co-founder and managing partner at ILS Capital, said: "SmartSource offers flexibility and scalability, along with operational and portfolio transparency, to allow our internal team to focus on what we do best – manage and grow our portfolio of investments.”
SS&C SmartSource provides outsourcing solutions for middle and back-office services powered by Singularity, its AI-driven investment analytics, operations and accounting platform. The platform is backed by SS&C's 35 years of insurance-specific domain experience, and can manage complex asset types and regulatory and reporting requirements.
Kyle Fields, Head of SS&C Insurance Solutions. "As we continue to see convergence of insurance and alternatives, we look forward to supporting the PNC team with the tools they need to scale and diversify into more complex asset classes."
