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JP Morgan brings insurance offering with Clearwater

asset servicing, outsourcingJP Morgan Securities Services has teamed up with Clearwater Analytics – a firm said to be winning insurance investment accounting business from some of the largest custody banks.

The two firms are collaborating to extend JP Morgan SS’s custody and fund administration business to providing automated investment accounting and regulatory reporting services for insurance companies.

Explaining the partnership, the custody bank said it was looking to expand capabilities for the insurance separate account business to complement its custody business.

Clearwater specialises in statutory accounting, regulatory reporting and analytics.

It is understood that Clearwater has won substantial general account administration business both from first-time outsourcing insurance clients and from existing outsourced agreements, including from some well-established custody banks.

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