Wealth management software provider, Bravura Solutions, has signed a five year agreement with New Zealand life insurance group Partners Life.
Under the terms of the agreement, Partners Life will integrate Bravura's Sonata platform into its insurance business.
Partners Life, a new entrant to the New Zealand insurance sector, selected Sonata after extensive market analysis.
"Sonata will provide the solution to meet our administration, workflow, broker new business interface and reporting requirements," Partners Life managing director Naomi Ballantyne said.
"We expect Sonata to provide exceptional levels of straight-through-processing with no need for costly integration or diverging systems."
The new signing comes a month after the Bravura board announced it had appointed Macquarie Capital Advisers to assess a number of unsolicited third-party approaches to buy the company.
The unnamed advances were outside an approach made to Bravura in August 2010, it said.
The listed company has faced speculation the approaches are linked to a number of key executive departures.
Unconfirmed reports claim the listed firm suffered three executive exits in November and December, with Sonata head of development, the company's head of operations for Australia and Asia; Talisman head of service delivery, Superb and Calibre; and ePass head of service delivery each departing.
