Company Overview • TransRe is a subsidiary of Alleghany Corporation (NYSE: Y), an owner of subsidiaries and investments anchored by core holdings in property and casualty reinsurance and insurance. • Transatlantic Reinsurance Company (“TransRe”) is Global Reinsurer headquartered in New York • 4 US Corporations and worldwide operations with key offices in Asia, Australia, Canada, Europe, South America, & Middle East; • Operate a branch and legal entity structure for reporting needs. • Insure direct writer insurance companies as well as other reinsurers in two major product lines: • Property which includes fire, auto physical damage, and homeowner’s multi peril i.e. property catastrophe risks.; • Casualty & Other Liability including D&O, errors and omissions, and general liability, medical malpractice, ocean marine and aviation, auto liability A&H, surety and credit. • Key financial highlights 2015 • Total Assets $15.2 Billion • Stockholder’s Equity $ 5.2 Billion • Net Premium Written $ 3.4 Billion • Underwriting profit $327.0 Million TransRe – Overview
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Introduction to Oracle Hyperion Financial Close Suite
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Company Overview• TransRe is a subsidiary of Alleghany Corporation (NYSE: Y), an owner of subsidiaries and investments
anchored by core holdings in property and casualty reinsurance and insurance.
• Transatlantic Reinsurance Company (“TransRe”) is Global Reinsurer headquartered in New York • 4 US Corporations and worldwide operations with key offices in Asia, Australia, Canada, Europe,
South America, & Middle East;• Operate a branch and legal entity structure for reporting needs.
• Insure direct writer insurance companies as well as other reinsurers in two major product lines:• Property which includes fire, auto physical damage, and homeowner’s multi peril i.e. property
catastrophe risks.;• Casualty & Other Liability including D&O, errors and omissions, and general liability, medical
malpractice, ocean marine and aviation, auto liability A&H, surety and credit.
• Key financial highlights 2015• Total Assets $15.2 Billion• Stockholder’s Equity $ 5.2 Billion• Net Premium Written $ 3.4 Billion• Underwriting profit $327.0 Million• Total employees worldwide 627
TransRe – Overview
TransRe – Business Challenges
• Reporting deadlines• US GAAP & US Statutory
• Reliance on manual data entry, manual interfaces & Excel• Multi-functional currency environment• Lack of standardization• Reporting packages, review & deadlines• Automation• Multiple versions of the truth
Integrated Approach• One source• Self administered• Automation• Leverage existing knowledge
TransRe – Approach
Non-Integrated Approach• Multiple tools require multiple support
organizations• Numerous integration points• Application to application reconciliations• Not cost efficient
vs
Applications• HFM• HTP• ARM• FCM• Essbase
TransRe – Current Environment
Manual entries
Cash processing
PAM - Investments
TIRS - Reinsurance
Manual Processes
SUN GL
FDM / Flat Files
Elimination Entries
Hyperion Tax Provision
Hyperion Financial Management
Account Reconciliation
Manager
• Alleghany reporting package
• External reportingReporting deadlines:
• President’s Letter – 7 days from quarter end
• US GAAP to Alleghany - 18 days from quarter end
• Audit & Finance Committee – 14 days from quarter end
• US Statutory – 45 days from quarter end & 60 from year end
Essbase
• Small, phased approach• One change at a time
• Organizational readiness• From US to global rollout
• Define & confirm requirements • Leverage the knowledge of the implementation partner• Ensure goals are understood
• Entities are remeasured to functional currency in G/L for certain combinations
• Entities are loaded in multiple functional currencies to HFM and then translated to reporting currency (USD)
TransRe – HFM & HTP Features
• HFM - Multiple exchange rates• Rates are different for investment accounts• Custom translation rules use investment rates as an override; the other accounts
use the default rates• HTP - Customizable forms & reports
• OOB FR reports tailored to produce full reporting package• Forms tailored to TransRe usage to simplify presentation
• HTP - Tax Automation• Automate as much as possible from account detail• Leverage accumulate mode to layer multiple components instead of custom rules
TransRe – ARM Features
• Multicurrency• Able to track and reconcile transactional data by currency
(subledgers/3rd party to ledger)• Able to track and reconcile functional data by currency (ledger to HFM)
• Custom attributes• Used to classify and filter reconciliations
• Multiple reconciliations for same Account / Entity pairs• Used 2 character abbreviation as part of Account Key to delineate
reconciliations
TransRe – ARM Features• Types of reconciliations
• Bank accounts (Transactional)• Balance comparison from third party to ledger
• Investments (Transactional / Functional)• Activity (rollforward) from third party custodian• Balance comparison from third party to ledger• Balance comparison from ledger to HFM
• Underwriting (Functional)• Balance comparison from ledger to HFM
• Other Balance Sheet (Functional)• Balance comparison from ledger to HFM• Account analysis of payroll accounts from ledger to be added in future
TransRe – FDMEE Features
• HFM/HTP• G/L
• ARM• Bank data (3rd party)• Investment data (3rd party)• Underwriting data (subledger)• G/L data – Transactional and Functional• HFM data• Leveraged Logic Groups to load once to populate multiple reconciliation types