State Street Corp. in Boston said Tuesday that it has been chosen by Midwest Medical Insurance Co. to do investment accounting for $250 million of general account assets.
State Street is to use Princeton Financial Systems' PAM system for investment accounting and will service the assets from its Kansas City, Mo., facility. The Midwest Medical group in Minneapolis sells insurance and health-care services to people in the Upper Midwest.
The insurer also sells medical malpractice insurance, workers' compensation, and other property and casualty products, as well as technology, human resources, and strategic health-care products and services to physicians, clinics, hospitals, and health systems in the region.
Princeton Financial Systems, is a subsidiary of State Street.
