Great Eastern Life Sign Up for Barrie & Hibbert’s ESG
Last updated 19th April 2011 - The largest insurance group in Singapore and Malaysia, Great Eastern Life opts for the Barrie & Hibbert ESG.
The largest insurance group in Singapore and Malaysia, Great Eastern Life, has chosen Barrie & Hibbert as their economic scenario generator (ESG) provider. The insurance giant opted for the bespoke model after a lengthy consultation process with the team at Barrie & Hibbert, who provide financial risk modeling solutions for companies across the world. Great Eastern Life, which currently has 3.8 million policy holders in Malaysia and Singapore, opted for Barrie & Hibbert’s ESG when it became clear that they could provide credible calibrations and an extensive choice of models required by the company for its financial modeling work.
A spokesperson from Great Eastern Life commented, "We recognise the benefits that a quality ESG brings to the financial management of our business. We were looking for an ESG with a wide choice of models, including the ability to support market consistent valuation, comprehensive and transparent documentation of methodologies and one which comes with good client service and support. We selected Barrie & Hibbert after taking into consideration its track record as well as the fact that its ESG is used by many global insurers and consulting firms."
Shailendra Jain, Regional Head of EMEA and APAC: “Great Eastern Life’s decision to license Barrie and Hibbert’s ESG reflects a growing confidence of local insurers in our ability to deliver region-specific modeling and calibration capabilities. We are delighted to be working with Great Eastern Life. Barrie & Hibbert has been able to create the best solutions for their needs, and we have ensured that their team is completely comfortable with our products and services. There are several areas of their business that will benefit from the Barrie & Hibbert models and we look forward to a long and mutually beneficial partnership with the company.”
