The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
EMC Corporation (NYSE: EMC) and its subsidiaries engage in the
development and delivery of information infrastructures worldwide.
Shares are up $.16 reaching a high of $13.31 on a volume of over 3
million in the early morning trading. Today's momentum came in as MTI
Technology Corporation (Nasdaq: MTIC), a multi-national storage
solutions and services company, has been chosen to provide a complete
storage solution and ongoing support services for Beazley plc, a
"leading player" in the underwriting business at Lloyds.
"Beazley has been growing very rapidly and when we looked at our
storage infrastructure and its ability to support this growth, I knew
we needed some expert help and quick," said Dave Boswell, head of IT
operations and Governance at Beazley plc. He further explained, "We had
already spoken with most of the large vendors and it was clear we
needed some more focused and personalized relationship with an
organization that we could trust to support us over the long run. From
our first discussions with MTI, it was clear we had found such a
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MTI first set about helping the Operations Service Improvement
Programme "OSIP" group, headed by Dave to get to grips with the
conflicting technologies in the market to better understand what could
provide Beazley with the best return and quickest payback from any
Dave Boswell said, "We set MTI a challenge; implement a Storage Area
Network (SAN) that is highly available, can easily scale with the
business and can support our SLAs around our Disaster Recovery and
Business Continuity objectives."
With such strong data growth derived from an aggressively expanding
business, it was clear that containing management overhead would be a
key concern. This lead neatly onto virtualisation and MTI subsequently
recommended a two pronged attack; virtualised storage and virtualised
"MTI has a strong heritage and acknowledged experience in integrating
and supporting complex storage solutions, ensuring peace of mind and
total solution support, all in one place. Because of this we were able
to present a powerful case in support of our proposal," said Richard
Collins, senior vice president sales, MTI Europe. "With the quality of
our response and the trust we were able to instil, the customer was
ultimately prepared to partner with MTI and we have delivered on our
promises," Richard added.
The MTI proposal avoided vendor lock-in, proved very cost effective and
provided the means to best support future growth at Beazley. MTI
initially installed two EMC Clariion storage arrays for the primary and
secondary sites incorporating redundant pairs of the StoreAge SVM
appliances and software. Approximately 3Tb storage per site was
provided, with local Snaps (PIT's) and Clones for immediate local
recovery of Exchange, SQL and File services with remote Asynchronous
mirroring of all mission critical data to the remote Beazley DR centre.
This can facilitate the immediate recovery of key services following a
disaster situation. The SAN quickly evolved to support further areas of
the business including, software development and "Beazley Central" the
primary data repository for all Beazley applications. VMware Virtual
Infrastructure Software, and an Enterprise backup solution using EMC
Networker backup software was then introduced to cater for even more of
the Beazley applications environment and geographies, including America.
James Wright, IT Infrastructure Manager for Beazley and a key player in
the restructuring team, was asked how he now saw the future with the
new facilities in place. He replied, "I think there is more opportunity
for virtualisation; StoreAge and VMware have transformed our
operations. At Lloyds there is a mass of small applications that
require a small dedicated server. I think using VMware in an
operational capacity to streamline this area would be very useful. Also
all the replication and mirroring facilities we get via StoreAge will
prove increasingly valuable as time passes." "Being able to grow our
storage facilities centrally and without user interruption is a huge
bonus. We are happy with our choice of solutions and equally happy with
our choice of partner, MTI," James concluded.
About Beazley plc Beazley plc is one of the leading players in the
underwriting business at Lloyds. They focus on writing speciality risk
insurance and re-insurance business in selected markets. In 2004,
Beazley USA was established. Based in Farmington, Connecticut with a
regional office in Ponte Vedra Beach, Florida it underwrites surplus
lines on behalf of Beazley syndicates at Lloyd's. Today Beazley's
premium capacity is 830m pounds Sterling with a Lloyd's Standard &
Poor's rating of a (strong).
About MTI Technology MTI is a leading multi-national provider of
consulting services and comprehensive information infrastructure
solutions for mid to large-size organizations. With more than 20 years
of expertise as a technology innovator, MTI is uniquely qualified to
assess, design, implement and support a broad range of information
management and infrastructure initiatives. As a strategic partner of
EMC (NYSE: EMC), MTI offers the best data storage, protection and
management solutions available today. By employing a strategic,
consultative approach, MTI provides customers with a single point of
contact that eliminates complexities while delivering operational
efficiencies and competitive advantages. MTI currently serves more than
3,500 customers throughout North America and Europe. Visit www.mti.com
for more information.
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