Societe Generale Securities Services (SGSS) has won a mandate from Caisse Centrale de Réassurance (CCR), the French State reinsurance company, to provide services intended to meet the requirements of the Solvency II Directive.
SGGS will provide fund look-through reporting, data enrichment, market risk Solvency Capital Requirement (SCR) calculations and financial risk monitoring reports.
The bank says it won the mandate particularly because CCR valued SGSS’ ability to provide a solution aligned with CCR’s quantitative and qualitative requirements, as Solvency II, which comes into effect January 1, 2016, will require a big increase in the frequency and level of data to be communicated to regulators.
“SGSS has developed a complete and modular service offering for its institutional investor and asset manager clients, which includes look-through reporting for funds and structured products, market risk SCR calculations, risk indicators for financial assets and associated reporting,” says the bank.
SGSS Wins Solvency II Mandate
Societe Generale Securities Services (SGSS) has won a mandate from Caisse Centrale de Réassurance (CCR), the French State reinsurance company, to provide services intended to meet the requirements of the Solvency II Directive.