According to the magazine editors, Numerix was recognized for its âskillful adaptabilityâ in a challenging market environment with the development of new counterparty risk analytics, enhancements to its solution suite for insurance companies, and its increased presence in the Latin America market.
The article also discussed how Numerix has deployed its solutions to 15 new insurance clients last year, with new solutions for structured products, asset liability management, and hedging portfolios.
âWe brought Numerix in to handle our more exotic deals because our traditional systems couldnât deal with them,â said one insurer. âIt also stepped up and worked with the liability side of our business helping it model the capital markets risks embedded in our liabilities, which is really critical for insurance companies. From a client service perspective, Numerix has been tremendous. We have moved along its product chain from its Excel product to SDK (Software Developers Kit) and are now using Numerix Portfolio.â
The article also covers Numerixâs growing presence in Latin America. âIn 2008, Numerix was contracted by one of the largest banks in Brazil which had a very strong need for vanilla and semi-exotic pricing and risk management support, and whose business was moving towards structured products. The Brazilian bank was looking to replace 5 to 10 analytic vendorsâ systems with one product. Numerix embarked on a four-month process constructing and developing local support such as interest rate curves and inflation instruments. The bank is now decommissioning the original vendorâs programs.â
âMany clients are beginning to see a light at the end of the tunnel of the current environment and are beginning to position for a robust return of the structured products market. The ability to structure new product types that help investors mitigate the risks of these markets is critical,â said Steven R. OâHanlon, President and COO of Numerix. âThe recognition of Structured Products magazine is testament to the companyâs continued success delivering the industryâs most sophisticated analytics and solutions for pricing, management and valuation.â
The award, which was announced in the April issue of Structured Products Magazine, was presented to Numerix at Structured Product Americas Conference earlier this month in Coral Gables, Florida.