London – RiskFirst announces another new client with RSA signing up to use the PFaroe platform to help them measure and manage their defined benefit pension plans
RSA, the leading global insurer, has selectedRiskFirst’s PFaroe platform to help improve management and oversight of its two largest UK pension schemes.
PFaroe is a web-based platform that provides pension scheme sponsors, trustees and their advisors with detailed and regular scheme information encompassing liabilities, assets and risk.
PFaroe offers a broad suite of analytics that support pension schemes and sponsors across a spectrum of requirements – from those who simply want better on-going reporting, through to some of the UK’s largest financial institutions to support the management of their regulatory capital requirements.
Since its launch at the end of 2009, PFaroe has now been adopted by more than 30 pension plans representing over £80bn of pension liabilities.
Sankar Mahalingham, Head of Group Pensions at RSA, said “RSA has chosen to use technology to drive much greater operational efficiency into the management and reporting of our DB plans. Given our business, RSA is a very sophisticated risk manager and PFaroe will provide us with the analytical tools to allow us to better manage our defined benefit risk exposures”
Benjamin Reid, President, RiskFirst Analytics comments: “We are extremely pleased that RSA have chosen RiskFirst as their pension analytics provider. RSA have demonstrated a robust approach to risk management with significant de-risking transactions and PFaroe represents an evolution in the governance and control of their defined benefit obligations”.