CHICAGO, Feb. 14, 2015 /PRNewswire/ — Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, today announces the launch of its PathWise™ Solutions Group, a specialist unit that provides clients with integrated High Performance Computing (HPC) business solutions.
Formerly known as Annuity Solutions Group, the unit has been rebranded to acknowledge the success and growth of its PathWise™ platform.
Originally developed as an annuities modelling tool, PathWise™ now covers all manner of assets, liabilities, and scenario generators, for its growing client base, which utilize PathWise™ as a complete solution to manage and report on complex financial and biometric risks.
PathWise Solutions Group delivers unique value to Aon Benfield clients through a combination of analytics and capital markets solutions. The Group provides integrated High Performance Computing (HPC) business solutions to banks, and insurance and reinsurance companies, to assist in the management and analysis of long-dated complex financial guarantee risks that are embedded in life insurance retirement products.
Following the rebranding, Peter M. Phillips has been promoted to the role of President of PathWise Solutions Group, reporting to Paul Schultz, Chief Executive Officer of Aon Benfield Securities.
Peter was formerly Managing Director of Annuity Solutions Group, delivering solutions to clients ranging from small businesses to large corporations, all of whom were committed to the harnessing and management of financial complexity.
Paul Schultz, Chief Executive Officer of Aon Benfield Securities, said: "The rebranding of our annuity solutions practice to PathWise Solutions Group is in response to the success of the team in developing market-leading risk management and hedging solutions, and to the growing demand from clients for these capabilities. Peter has proved himself over many years to be a successful leader and a true expert in his field, having helped the unit to become the rapidly-growing business that it is today."