China Re Asset Management Company (CRAMC), the asset management arm of China Reinsurance Group, has awarded Sophis, an Ireland-based provider of cross-asset and risk management solutions, to implement its portfolio management system Value.

Under the agreement, the first stage of implementation will see the Value system being utilized by 50% of the team at CRAMC.

According to Sophis, its Value system includes front-to-back office, risk management, and centralized data management modules and will provide CRAMC with advanced technological capabilities, along with the user-friendliness and ease of implementation required for the company’s future development.

Sophis will implement a fully integrated Straight Through Processing (STP) system, which offers a centralized and automated platform overseeing all investment transactions.

Rong Zhiping, party committee member for CRAMC, said: “To support our pioneering products and diversified asset classes over the coming years, we are looking not only for a system bridging international and local markets, but also a single highly integrated platform that will be used by every team member, from top management to front-line staff. And Sophis successfully won our vote as the clear industry leader in providing such a solution.”