Infovest Regulatory Reporting

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Delivering compliance for clearly defined statutory regulations in the most
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Solvency II

The EU’s Solvency II Directive is an enhanced capital adequacy regime for the European insurance industry primarily focused on reducing any risk of insolvency. Where investment managers manage assets on behalf of an insurer, they are accountable for providing not just the underlying portfolio data, but also all of the data necessary to demonstrate the solvency of their portfolios and to ensure the ongoing compliance of the insurer with its regional jurisdiction’s interpretation of the directive. Custodians and fund administrators are also being required to provide much of the necessary data.

Infovest’s Solvency II solution is designed for the insurer, the asset manager and the asset servicer.

Information Solution Set

Infovest offers a comprehensive Solvency II solution, firstly to asset managers providing templates based on the Tripartite Template (TPT) to their insurance clients and secondly to life companies wishing to produce Quantitative Reporting Templates (QRT).

Infovest SII TPT production can be installed at client sites or the entire process can be outsourced to our Managed Service. QRT production for insurers is usually installed at the client’s site.

Managed Service TPT production

Infovest offers a fully Managed Service for Solvency II TPT production. Managers can outsource all data management, technical production processes as well as data sourcing facilitated through our partnerships with the leading data providers.

Installed TPT production

Clients wishing to make use of their existing data usually receive an installed version of Infovest SII, the easiest and most efficient capability available today.

Installed QRT production

Under Solvency II, Insurers must demonstrate their own risk and solvency assessment (ORSA) and build a compliant risk management strategy. To achieve this, it’s important to focus on data quality, accuracy and reliability. Full transparency around source, calculation methodology and process is paramount, driving the need for a structured and scalable data management tool that is optimised for control and auditing.

Once this is in place, the firm can begin the risk mapping required to build risk models. This process breaks down into four headline tasks:

  • Data Capture/Management: Direct holdings, investment funds, target funds, market data vendors.
  • Data Governance: Apply CIC codes – standard or client-specific, use proxies where look-through not available – decomposition of structural derivatives.
  • Analysis: Validation, review.
  • Reporting: According to QRTs.

Infovest’s data management and reporting solutions meet the requirements of Solvency II. The Infovest platform enables insurers to produce Quantitative Reporting Template (QRT) reports, by using only validated and correctly valued assets and liabilities. The system calculates the risk capital per risk category, considering market risk, counterparty risk and subscription risk. It then aggregates risk and adds a measure of operational risk. At the same time, it performs all data mapping and provides a full audit trail in support of the final QRT report.

Working with our data partners, we ensure that our clients have the required information to fulfill the key data considerations for Solvency II. These include: pricing, valuation and attributes for every asset, and complete coverage of classifications and identifiers – CIC , NACE, LEI. Infovest also supports fund look-through to enable aggregation of holdings at the insurer level, as well as at a detailed instrument level or fund mandate level or a combination of the two. It also provides benchmark curves and risk exposure profiling.

In summary, we provide

  • A complete solution for insurers and asset managers that covers the full requirements of Solvency II.
  • Scalable architecture to support your growth.
  • Integration with ratings and market data providers plus all data mapping and with FOF look-through.
  • Validation of assets and liabilities.
  • Supply and validation of CIC classifications.
  • Improved governance through rule management and alerts for breaches.
  • Increased efficiencies and reliability by automating investment processes.
  • Holdings data presented via TPT.

Benefits

We give you the option of client managed or a fully outsourced system.

Ability to source data either internally or from our industry leading partners.

Power to amalgamate, classify, control, maintain, reconcile, validate and disseminate your regulatory data.

Complete confidence in accurate calculation of risk and exposure statistics.

Improves efficiency.