Pension Fennia, a private sector pension provider in Finland, has hired Ortec Finance, a Dutch risk consultant, to create an asset liability and risk management solution that will include modelling of the Finnish private sector solvency regulations
The ALM solution will enable Pension Fennia to formulate ALM strategies based on Ortec Finance's multi-horizon scenario generation, asset and liability methodologies. In addition to the ALM framework, the model is due to incorporate an ex-ante risk management tool with specific focus on tail risks.
Irmeli Heino, director of finance, risk management and HR at Pension Fennia, said: "The fact that the model is capable of incorporating the specific Finnish rules into a globally proven platform was a decisive factor for us [to chose Ortec]. The technical evaluation of the tool is also important for us."
"We remain committed to the Finnish market which clearly consists of professional entities ready for advanced solutions," said Sinikka Demaré, managing director and partner at Ortec Finance.
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