(Alliance News) - Chesnara PLC on Monday said that it has entered a long-term strategic partnership with SS&C Technologies Holdings Inc, a provider of software and technology services to the financial service industry.
Under the terms of the deal, SS&C will provide policy administration services to the Preston, England-based insurance company's UK division.
Its front-to-back office servicing of Chesnara's UK books of business will be delivered via its strategic life and pensions operating model, powered by edge technology solutions. As a result of the partnership, a number of Chesnara's Bristol-based employees will transfer to SS&C.
"We are delighted to be announcing this strategic partnership with SS&C, which will provide us with access to a modern, flexible and cost-efficient policy administration service as well as wider capabilities within the SS&C Group," said Chesnara Chief Executive Ken Hogg.
He added: "The partnership will also ensure we can continue to deliver a high level of customer service for customers over the longer term. And for our Chesnara colleagues who will join SS&C later this year, SS&C will be a great place for them to continue their careers."
Chesnara shares were trading 1.1% lower at 282.83 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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Chesnara (CSN)