London, UK (PRWEB UK) 19 April 2014
CMC Europe, the specialists in delivering business change and transformation solutions in risk, regulatory and finance data, today announces the formal launch of sister company, CMC Insurance Limited (CMC Insurance). Soft-launched in February 2014, the new company is a specialist firm that delivers complex programmes in regulatory, risk and finance data for the global (re)insurance market.
The business has been established to provide the (re)insurance market with effective solutions which seek to deliver preparedness for regulatory change to clients. CMC Insurance does this through its ‘Effective Delivery Made Easy™’ approach; concentrating on the delivery of practical and achievable steps to bring (re)insurance data under real control. The consultancy also offers differentiated solutions via partnerships with the biggest and best of breed technology firms.
CMC Europe is a well-regarded and established international consulting firm with a proven track record of delivering regulatory, risk and finance data programmes within the investment banking sector. CMC Europe’s Chairman Steve Wyer is CMC Insurance’s Operations Director and an integral part of CMC Insurance's founding team.
Steve Wyer, Operations Director, CMC Insurance commented, "We are committed to building a true alternative to the ‘Big Four’ consultancies for the (re)insurance sector. We have seen significant demand for CMC Europe’s simple and effective change delivery service in the banking sector, and aim to replicate our approach with CMC Insurance in the (re)insurance sector.”
He continued, “Whilst we recognise that there are numerous differences between the capital markets and the (re)insurance sector, both markets are subject to similar financial services regulatory environments and therefore share common, and often complex issues. At CMC we seek to simplify the process to resolving these complex issues.”
CMC Insurance has recruited specialists to run its (re)insurance operation, who are supported by a 200-strong team of CMC consultants. The CMC Insurance team is led by Nick Stammers, who brings over 20 years’ experience in insurance, reinsurance, consulting and software.
Commenting on Nick Stammers’ appointment, Steve Wyer said, “Having someone of Nick’s calibre and experience join us is testament to the emphasis we are placing developing CMC’s (re)insurance presence. I welcome Nick to his new role and am sure that CMC’s clients will find Nick to be a valuable advisor”, he added.
Prior to joining CMC Insurance, Nick Stammers held a senior role at Pro Insurance Solutions, a specialist insurance services provider and part of the Tawa Group. There he was focussed on growing Pro's business with new clients in the UK and Europe, across all areas of the (re)insurance sector.
Previously, Nick worked for software and consulting firm, Concentra, specialising in Business Intelligence and visual analytics for the insurance market and for a technology company, Serverside Group, where he was Director EMEA for tier one banks.
Nick Stammers, Director, CMC Insurance said, "I have been watching closely the growth and success of CMC Europe since its formation, which has been impressive. I share Steve Wyer's vision for the need of a specialist consultancy for the (re)insurance sector; a sector which is devoted exclusively to creating solutions for a select group of hard-to-place risks while delivering measurable results."
He continued, “The ever-evolving regulatory regime has posed many challenges and great expense for the sector in the past few years. Solvency II has taken much time to progress, but now a date has been set for implementation. Despite recent progress, there remain a number of hurdles for the sector to overcome in the run up to full implementation of Solvency II, with data posing particular concern.
“Our early conversations with the market indicate that the impending Solvency II deadline is being viewed by some as an issue of conformance, but to others it represents an opportunity for organisations to improve business performance. CMC Insurance looks forward to helping clients realise this opportunity, as well addressing any issues associated with data governance, risk reporting and business change.”
NOTES TO EDITORS
ABOUT CMC INSURANCE LTD
CMC Insurance Ltd (CMC Insurance) is a specialist consulting firm dedicated to building a true alternative to the ‘Big Four’ consulting firms for the (re)insurance sector. The business specialises in delivering complex programmes in regulatory, risk and finance data for the global (re)insurance market.
CMC Insurance’s solutions include:
Data Governance and Management
Delivering practical and achievable steps to bring data under real control and return tangible benefits
Regulatory and Risk Programmes
Adapting IT & data capabilities for regulatory change
Organisational Transformation and Business change
Remediating the way in which organisations manage and use their data
ABOUT CMC EUROPE
Capital Markets Consulting (London) Ltd (CMC Europe) is a London based, specialist consultancy focussing on the capital markets, investment banking, insurance and investment management sectors and was founded in 2009. Expertise includes regulatory finance and risk systems, data and business process change and reengineering.
CMC Europe has significant, proven expertise in the areas of data discovery, transformation, migration and security and data quality management, with referenceable results.
Clients are major global banking corporations seeking solutions within specialist areas such as Recovery & Resolution Planning, Dodd Frank, CASS and Client Money, capital & liquidity management and reporting, capital & RWA allocation, collateral optimisation and risk data aggregation to comply with PERDARR (Principles for Effective Risk Data Aggregation and Risk Reporting).
For more information:
CMC Insurance Solutions Ltd
T: +44 (0)20 7422 0491
M: +44 (0)7940 482 020
T: +44 (0)20 3086 7753
M: +44 (0)7974 428 026