The Company for Cooperative Insurance (Tawuniya) has selected Thomson Reuters PORTIA, a middle-to-back-office investment operations platform.
Thomson Reuters said its PORTIA will provide Tawuniya with a global solution to manage, analyze and report on their broad, multi-currency investment portfolio, mitigating risk and improving investment operations.
Tawuniya CEO Ali Al Subaihin said that Portia provided a flexible solution to help the firm automate its growing global investment business, ensure Sharia compliance and provide extensive reporting capabilities.
Thomson Reuters global managing director of PORTIA Christy Bremner said that as the Middle East insurance market continues to grow, firms will require automated solutions that are both Shariah-compliant and meet global accounting requirements.
"PORTIA helps customers meet these challenges and drive operational efficiency, mitigate risk and cost effectively manage their increasingly complex middle-to-back office operations," added Bremner.