BNY Mellon, Asset Servicing, IPCRe
BNY Mellon Asset Servicing Selected by IPCRe Limited as Global Custodian
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BNY Mellon Asset Servicing Selected by IPCRe Limited as Global Custodian
Cites Experience in Providing Service To Off-Shore Financial Institutions, Insurers
New York, March 7, 2008 — BNY Mellon Asset Servicing, the global leader in asset servicing, has been selected by IPCRe Limited, a Bermuda-based reinsurance provider, as global custodian for its $2.5 billion portfolio.
"BNY Mellon’s presence in Bermuda and its ability to provide full-service solutions for our growing needs were important factors when we made our selection," said John Weale, senior vice president and chief financial officer of IPCRe. "We look forward to creating a successful partnership."
"We have been building our asset servicing capabilities in Bermuda for more than 20 years and now support a wide range of off-shore financial services companies." said Patrick E Curtin, executive vice president, and head of financial institutions at BNY Mellon Asset Servicing. "We continue to enhance the services that we provide to the insurance industry."
IPCRe Limited provides property catastrophe reinsurance and, to a limited extent, aviation, property-per-risk excess and other short-tail reinsurance. IPCRe Limited in 2008 is celebrating its 15th year of specialty focus on property catastrophe reinsurance. Since its formation in Bermuda in 1993, in the wake of hurricane Andrew, it has created a strong presence in the marketplace and has established relationships with many of the world’s leading insurance organizations. Its business encompasses clients domiciled in North America and those located elsewhere in the world, principally in the UK, Continental Europe, Japan, Australia and New Zealand.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com
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