Shin Kong Financial Holding goes live with Algorithmics for market risk

Taipei, Toronto, London -- Algorithmics, the worlds leading provider of risk solutions, announced today that Shin Kong Financial Holding Co Ltd, (SKFH) the Taiwanese financial services group, has gone live with Algorithmics market risk solution for enterprise risk management across the whole group. SKFH has subsidiaries spanning insurance and banking, including SK Life Insurance, SK Commercial Bank and SK Investment Trust.

SKFH has implemented Algo Market Analytics across all its asset classes including FX, equity, bonds, and credit derivatives and is using the system to support risk analytics and improved risk control across the group.

SKFHs CRO, Dr. Grace Chu, said: We are extremely pleased with the implementation of Algorithmics market risk solution. The project was completed on time with an experienced local team. The solution meets our strategic risk objectives for both the short and long term, and provides a robust set of risk control functions that enables enhanced decision making across all our subsidiaries.

Mina Wallace, Algorithmics Executive Vice President for Global Services and Asia Pacific, added: We congratulate SKFH on going live with Algo Market Analytics. We have worked closely with SKFH to implement a solution specific to their unique needs and to ensure that enterprise-wide risk management is a market differentiator for SKFH. We welcome SKFH to our client base in Taiwan and are pleased to continue to grow our presence in this important market.

Notes to editors:

SKFH Shin Kong Financial Holding Co, Ltd (SKFH) was founded on February 19, 2002 with headquarters at the Shin Kong Life Tower, the financial landmark of downtown Taipei. With a vision to provide comprehensive customer services, SKFH has continuously grown and developed. Today, there are four subsidiaries under the financial holding company: Shin Kong Life Insurance Co., Ltd. (SKL), Taiwan Shin Kong Commercial Bank Co., Ltd. (SKB), Shin Kong Investment Trust Co., Ltd. (SKIT), and Taiwan Shin Kong Insurance Brokers Co., Ltd. (SKIB).

SKFH provides a full range of financial products and services through its subsidiaries in life insurance, banking, asset management and non-life insurance brokerage and delivers these products through an extensive distribution network (including 366 outlets of SKL, 108 branches of SKB, to 5 million customers. Beyond Taiwan, Shin Kong Life Insurance (SKL) has established offices in Shanghai and Beijing. It has also obtained permission from the CIRC to form a joint venture insurance subsidiary with Hainan Airlines to tap the huge Chinese market. The venture, which began operations in 2008, has an initial capitalization of RMB500 million and is headquartered in Beijing. In Hong Kong, SKB has established a finance company to provide a fund management platform for Taiwanese enterprises. SKFH has also set up banking and insurance offices in the high-potential market of Vietnam.

For decades, Shin Kong group has been cultivating markets, accumulating experience, and building a reputation for excellence. Going forward, the company will continue to provide customers with industry-leading financial services.

Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.

Algo Market Analytics supports market risk capital measurement, management and mark-to-market, enabling calculation of minimum capital under standardized and internal model approaches. Algo Market Analytics captures and consolidates exposures arising from multiple risk factors including interest rates, equity markets, credit spreads, volatilities, FX, power and commodities.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.

For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com

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