Societe Generale Securities Services has released a package of services to enable institutional investors and asset managers to meet Solvency II requirements.
Solvency II, the European directive harmonizing the EUs approach to solvency requirements of insurance and reinsurance companies, comes into effect in January 2014.
This directive significantly increases the information that needs to be provided to regulators, which has resulted in custodians and vendors releasing various services and solutions to help clients meet those requirements.
The SGSS package of Solvency II services includes: a transparent inventory of funds and portfolios of assets; assistance with SCR (Solvency Capital Requirement) calculations, stress tests and multiple risk indicators; monitoring and management of the risks linked to financial assets; and preparation of reports dedicated to Solvency II covering financial assets.
A survey conducted by BNY Mellon recently found that a majority of the European institutions impacted by Solvency II think it misses the mark and may also disrupt the role of insurers in the capital markets.
(CG)