Atlantic Casualty Insurance Selects Clearwater Analytics

28-Aug-2012

Goldsboro, North Carolina-Based Insurer to Become More Agile and Efficient with Improved Investment Accounting, Reporting and Analytics Solution

BOISE, ID – August 28, 2012 — Atlantic Casualty Insurance Company (a member of the Strickland Insurance Group, Inc.), a property and casualty insurance company based in Goldsboro, North Carolina, has selected Clearwater Analytics, a leading investment accounting and portfolio reporting and analytics software firm, to provide consolidated investment accounting and Schedule D filings and portfolio reporting and analytics on its investment portfolio. Atlantic Casualty offers a range of insurance products, including commercial general liability, commercial package, inland marine, commercial property, boiler and machinery and commercial auto coverage distributed exclusively through wholesale agencies. It offers coverage in most U.S. states.

With Clearwater, Atlantic Casualty has selected a powerful, flexible, integrated investment accounting and analytics solution that will give the insurer daily insight into its investment portfolio and the means to avoid lengthy close processes and error-prone manual intervention. It provides Atlantic Casualty with a scalable solution that can grow with the insurer and allow it to better allocate its internal resources. Lastly, it gains a robust compliance monitoring and risk analysis tool and the ability to track performance from an independent third party.

“We were immediately impressed with Clearwater’s investment accounting and portfolio analysis capabilities when we were introduced to it at the IASA Chief Investment Officer Roundtable event,” said Stephen Westfield, CFO of Atlantic Casualty Insurance. “We selected Clearwater based on their ability to help us improve our operational efficiency around filing quarterly and annual Schedule Ds, their independent performance reports, access to daily risk analytics, the ability to monitor compliance with our investment policy, and ultimately to have the freedom and flexibility to make the best investment decisions possible.”

“We’re excited to work with Atlantic Casualty Insurance to provide them with an integrated investment portfolio reporting and analytics solution,” said Dave Boren, Clearwater’s CEO. “Our system frees up accounting and financial management teams by improving efficiency and streamlining their close processes. I believe we can help Atlantic Casualty achieve even greater investment accounting and reporting transparency, control and scalability.”

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About Atlantic Casualty Insurance 

Atlantic Casualty Insurance Company (Atlantic Casualty) was formed by Strickland Insurance Group (SIG) in 1983 to underwrite a substantial book of non-standard auto developed by its MGA, Strickland Insurance Brokers, which was formed in 1969 by the Strickland family. Since then the company has ceased writing non-standard auto. Current product lines include Commercial General Liability, Commercial Package, Inland Marine, Commercial Property, Boiler and Machinery and Commercial Auto (NC only). These products are distributed exclusively through wholesale agencies.

With offices in Goldsboro, NC; Hartford, CT; Philadelphia, PA and Scottsdale, AZ; Atlantic Casualty has positioned itself to better serve its agency force and has authority in all fifty states. Hard work and solid results over the past 25 plus years have earned Atlantic Casualty an A- (Excellent) VII (financial size) rating from A.M. Best. Atlantic Casualty offers its agency partners excellent insurance products, state of the art technology, financial strength, and stability. The company also offers one other benefit that few companies can and this is access on a daily basis to the leaders of this company. Some of the finest wholesalers and general agencies in the country represent Atlantic Casualty.

About Clearwater Analytics 

Clearwater Analytics® provides web-based investment accounting and portfolio reporting and analytics for corporate treasuries, insurance companies, and asset managers. Clearwater’s daily-aggregated and reconciled solutions deliver the highest level of portfolio transparency available on the market today for insurance clients such as Group Health Companies, The Main Street America Group, Savings Bank Life Insurance Company of Massachusetts, CopperPoint, The Warranty Group, and WellCare. Launched in 2004, with offices in New York, New York; Boise, Idaho; and Edinburgh, U.K., Clearwater Analytics reports on more than $1 trillion in assets for thousands of institutional investors. For more information about Clearwater Analytics, visit www.clearwateranalytics.com.