Northern Trust has upgraded its SAP Financial Asset Management application to SAP S/4HANA, which enhances its insurance investment accounting and analytics services solution, developed to support the full spectrum of investment accounting and regulatory reporting needs for U.S. insurance companies and corporate and endowment markets. The upgrade incorporates Northern Trust’s interactive digital interface with SAP S/4HANA to provide an end-to-end solution covering all investment types and reporting needs. The cloud-based interface automates and streamlines insurance accounting and reporting processes, enabling faster processing and reporting.
Northern Trust’s insurance solutions business services 183 insurance clients globally with USD814bn AuC as of December 31, 2023.