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Asset managers to feel pain of Solvency II
20 December 2011
The fast-approaching data reporting rules of Solvency II will hit firms that manage assets of insurance firms, according to Simcorp and Investit
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Solvency II
Simcorp
Investit
Asset managers will face issues due to the reporting and data management requirements of Solvency II, according to investment management software providers Simcorp and Investit.Solvency II covers the European insurance industry but asset managers and other third-party providers to insurance firms will have to comply with the new rules.Sarah-Jane Dennis, consultant for operations and systems at Investit, said that Solvency II data requirements cover any firm that provides data that is passed onto regulators and there will be significant issues for asset managers, insurance firms and pension funds.The Pillar II reporting rules involve annual and quarterly...
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