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CMS Announces Agreement with Summit Strategies Group New product, using A.M. Best data and
research, provides competitive analysis of insurance company investment
performance Los Angeles, CA, November 17, 1998 – Capital Management Sciences, known for its leading BondEdge fixed income analytical software, today announced that they have signed an agreement with Summit Strategies Group, a St. Louis-based consulting firm, to partner in the development and marketing of a new product for senior managers at life insurance companies. The new product, The Compare Study, offers insurance company executives a thorough analysis of their investment portfolio structure and total return performance versus competitors writing similar lines of business. A complete information package was sent today to over 1,600 executives at 850 insurance companies with details of the offering. A detailed analysis of over 1,000 life insurance company investment portfolios is included in the study which is designed to facilitate peer group comparisons on such factors as interest rate risk, sector allocations, and total return estimates. A.M. Best, a leader in the insurance industry ratings business, defined more than 75 peer groups based on primary lines of business and supplied the data on each company. Insurance company managers can also create customized peer groups to further refine the comparison. "The research is an important step toward providing a meaningful basis by which to evaluate the effectiveness of insurance company investment strategies," said Michael Albanese, a vice president in A.M. Best’s life/health ratings division. "It can be of particular value to insurance company investment managers because it provides a view of investment performance against companies’ unique liability structures." "The insurance industry is vastly different today with greater emphasis placed on the contribution of the investment portfolio. Knowing that ratings, overall industry perception, and future growth opportunities are influenced by how well a company manages its portfolios, we think The Compare Study is an essential component of insurance company management going forward," said Stephen Holmes, president, Summit Strategies Group. "We are pleased to join forces with Summit and A.M. Best in the development of a product which we view as vital to the insurance industry. By creating a common denominator with which companies can measure their investment performance and risk against their competitors, we envision The Compare Study will become an industry standard," said Laurie Adami, chief operating officer, Capital Management Sciences. Summit Strategies Group, a St. Louis-based consulting firm with a significant insurance practice, brings important knowledge of the issues facing the industry today. Initially, Summit will be responsible for sales and distribution of The Compare Study to life insurance companies with a property/casualty version planned for the future. Founded in 1979, CMS is the recognized leader in fixed income portfolio analytical software with over 500 institutional clients. Long known for BondEdge, CMS is considered an independent source of research, analytics and valuation tools and has had extensive experience working with insurance companies. CMS is a division of Data Broadcasting Corporation (Nasdaq:DBCC), a leading provider of real-time market data, stock quotes, and financial news and information. More information on CMS is available at www.cms-info.com A.M. Best Co., established in 1899, is America’s oldest and most widely recognized insurance rating and information source. For more information about A.M. Best, visit the company’s Web site at http://www.ambest.com.
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