As the deadline for Solvency II approaches, SimCorp, a leading provider of investment management software for the international insurance industry, supports its clients in preparing their IT landscapes for the changes to come.
Current European Union (EU) directives dictate that all insurance, life-insurance and pension companies operating within the EU must comply with the Solvency II framework by the end of 2012. Solvency II is a directive that introduces a new solvency regime, based on an integrated risk approach, with provision for these risks in the form of solvency capital. It is more comprehensive than any previous regulation of its kind and there is no out-of-the-box solution for Solvency II on the market today.
After hosting numerous Solvency II council meetings, workshops and interviews with clients across Europe, SimCorp has established an overview of the industry’s needs and requirements, and consequently developed a comprehensive solution package.
“The way SimCorp approaches Solvency II by first entering into a close dialogue with its clients to uncover their precise needs and from there goes on to integrate the necessary solutions in SimCorp Dimension is the true measure of a strategic partner,” says Carsten Meyer, responsible for asset management controlling at Germany-based Alte Leipziger. “As Solvency II affects various parts of our business, for instance when it comes to gathering data, we are also confirmed in the value of having a seamlessly integrated and flexible system such as SimCorp Dimension.”Among other things, Solvency II includes frameworks for capital requirements, governance and risk management, and reporting. While the new regulation has not yet been fully defined, it is clear that SimCorp Dimension supports the functionality needed for calculating the market risk capital requirements and provides support for advanced reporting. “New regulations like Solvency II always create some uncertainty in the market. At SimCorp we are committed to eliminating that by providing our clients with an IT platform that can support the advancing needs,” says Peter L. Ravn, chief executive officer at SimCorp. “Together with our clients and the different local associations and authorities we are able to develop and provide a solution that enables our clients to comply with the regulatory changes.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV