The merged Tyndall and Suncorp investment operations and systems are being reviewed following the merger between parent company Promina and Suncorp.
Brett Himbury, Tyndall managing director, said an internal team comprised of people from the asset management and IT sectors of the businesses had been established to integrate the systems underpinning the Tyndall and Suncorp operations. The operations include client service, front-office systems and the backoffices of the two formerly separate firms. Both Tyndall and Suncorp had operated their own internally managed backoffices prior to the merger. While the potential for outsourcing to new providers would be canvassed, Himbury said that any future outsourcing activity would be unlikely. “We want to build from the best from within,” Himbury said. He expected the integration team to begin formulating recommendations at the end of October.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
