25 February 2009
Tokio Millennium Re Ltd selects Active Risk Manager software solution to enhance its credit rating
Strategic Thought Group plc, provider of enterprise risk management software Active Risk Manager, today announced that Bermuda based Tokio Millennium Re Ltd has selected Active Risk Manager (ARM) to manage and calculate risk in a total of five risk categories; underwriting, market, credit, strategic and operational.
Tokio Millennium Re Ltd was established in Bermuda in March 2000 by its parent company Tokio Marine & Nichido Fire Insurance Co Ltd which has offices in 51 cities in 31 countries. However, the group’s natural catastrophe risk exposure business was centred on Japan. Tokio Millennium Re Ltd’s mission is to act as a strategic risk diversifier for the Tokio Marine Nichido group, by writing high layer natural catastrophe risks outside of Japan.
Active Risk Manager is Strategic Thought Group’s comprehensive, web-based risk and opportunity management software solution which includes a simulation function to calculate risks with distribution, one of the prime reasons for Tokio Millennium Re choosing Active Risk Manager over other products evaluated.
Edwin G Jordan, Chief Risk Officer at Tokio Millennium Re Ltd said, “We looked at several risk management software products as our target is to achieve a Standard & Poors enterprise risk management scoring of ‘excellent’. We chose Active Risk Manager as it is a complete solution and we believe it will add value to our organization through enhanced business performance as we create a new market for corporate insurance and reinsurance buyers around the world.”
Martin Metcalf, Chief Executive Officer of Strategic Thought Group stated, “This contract illustrates the versatility of Active Risk Manager in its ability to underpin an organisation accepting risks with high volatility in worldwide insurance and reinsurance markets, in addition to its proven capabilities to support enterprise-wide risk management implementations in major global organisations. We welcome Tokio Millennium Re Ltd to the global ARM community of users and look forward to helping it achieve its target of the highest level enterprise risk management within the insurance and reinsurance industry.”
Strategic Thought worked closely with one of the big four, international accountancy and professional services organisations as an implementation partner which set the enterprise risk framework that is enabled by Active Risk Manager in use at the Hamilton, Bermuda office of Tokio Millennium Re Ltd.
For more information about Tokio Millennium Re Ltd please visit: www.tokiomillennium.com
Active Risk Manager from Strategic Thought Group plc
Strategic Thought Group (STG) provides risk/reward-focused software and services to enable true enterprise-wide risk management. Active Risk Manager™ (ARM) from STG is the world's leading web-based Enterprise Risk Management system. ARM enables the identification, registration, communication, analysis and management of risks and opportunities.
ARM aids compliance with project, operational and enterprise-wide guidelines. The effective management of risks and opportunities allows companies to act within corporate governance requirements and industry standards while balancing the risk/reward mix to maximise the return on opportunities.
STG was founded in the UK in 1987 and opened offices in the US in 2004. Active Risk Manager is used by major organisations around the globe including BAE Systems, British Nuclear Group, Rio Tinto, Lockheed Martin, Nestle, NASA, USAF, Raytheon and SABIC.
For further information and a detailed view of Strategic Thought's products and services visit www.strategicthought.com or call +44 (0)1628 582500 (EMEA) or +1 703 673 9580 (Americas).
Mary Phillips/Andreina West
PR Artistry Limited
T: +44 (0)1491 639500
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