05 August 2008 Company Announcements

 

Allianz Group signs SecondFloor on risk management project

SecondFloor is developing a risk management platform for Allianz Group. The custom built solution will be designed to provide Allianz with auditable, automated, centralized and SOX compliant risk calculations on the basis of a new replication portfolio approach. SecondFloor will be responsible for the analysis, information architecture, server based implementation, testing, deployment and support, providing Allianz with a reliable and auditable solution.

The SecondFloor solution will primarily collect and process information from the various Allianz subsidiaries worldwide. The gathered data will be fed into an existing calculation engine in a controlled manner. After calculation, SecondFloor reports its technology will present results in a standardized reporting format and can be distributed to the board, within the Allianz organization and even to outside parties like supervisory bodies.