Press Releases

SolveXia Integrates FINCAD Software to Provide Extensive Risk Modeling Services

Global offering of more transparent risk management for insurance industry

Vancouver, London November 26, 2008

FINCAD and SolveXia today announced that SolveXia has joined the FINCAD Alliance Program to integrate FINCAD's derivative pricing libraries into its SolvenSeerF+ application. Through this partnership, SolveXia will provide users of SolvenSeer F+ with access to FINCAD's comprehensive, industry standard, cross-asset risk analytics.

The proprietary SolvenSeer F+ application, designed by SolveXia, provides users with ready access to the widest possible range of asset projection functionality across asset classes in all major countries. This is made possible by incorporating FINCAD's analytics library into SolveXia's infrastructure, thereby significantly enhancing existing actuarial projection systems.

"Scrutiny of risk assessment is bound to become more stringent in the years leading up to increasing regulation demanded by Basel II and Solvency II. A new generation of risk modeling will be called upon to gain a better understanding of risk profiles and acceptable levels of capital that must be set aside to satisfy investors and policy holders that their security is indeed safe," said Jonathan Glass, Managing Director, SolveXia. "We're pleased to partner with FINCAD to offer greater certainty for the insurance industry and its participants with a new level of capability and proficiency."

"In today's volatile market, there is a vital need for comprehensive and efficient derivatives analytics to better manage risk," said Amar Budhiraja, Program Manager, FINCAD Alliance Program. "SolveXia's integration of FINCAD analytics will address this need and provide its clients in the insurance, investment and resource trading industries with extensive risk modeling capabilities."

The FINCAD Alliance Program enables SolveXia to leverage FINCAD software and expertise to meet its customers' evolving need for robust derivative valuations. SolveXia is scheduled to make the SolvenSeerF+ service available to its clients in the second quarter of 2009.

About FINCAD

Founded in 1990, FINCAD provides software and services supporting the valuation and risk management of cross-asset class derivatives and fixed income securities to banks, corporate treasuries, asset management firms, auditors, and governments. FINCAD is the industry standard for financial analytics used by more than 35,000 financial professionals in over 80 countries. Over 70 FINCAD Alliance Partners embed FINCAD analytics within their solutions. FINCAD provides sales and client services from Dublin, Ireland and Vancouver, Canada. For additional information, visit www.fincad.com.

About SolveXia

SolveXia is a Software-as-a-Service ('SaaS') business offering financial modelling capabilities that are unobtainable elsewhere. SolveXia is the first and only insurance focused integrated, web-based, risk management portal specifically designed to meet the needs of Solvency II and corporate economic capital measurement. It provides software, services and information to actuaries, quantitative analysts and other technical users in the global insurance industry. The SolveXia portal enables subscribers to perform asset simulations, portfolio optimisation, replicated portfolios and risk aggregation. www.solvexia.com.

Media Contact:

Armita Seyedalikhani
Direct: +1.604.957.1222
Email: a.seyedalikhani@fincad.com