Investment - Articles - Solvency II only 100 days away


With just 100 days to go until the implementation of the Solvency II, look-through data specialist Silverfinch is reminding insurers of the need to ensure the necessary agreements are in place with the asset management firms who will be providing them with the look-through data on their investments

 Silverfinch, the secure fund data utility that allows asset managers to handle look-through data requests from their insurance company investors, is also urging insurers to review whether they will require service level agreements or non-disclosure agreements with both rating agencies and data vendors.

 John Dowdall, managing director of Silverfinch said:
 “It may have taken us an awfully long time to get to this point on the runway, but now the ground is staring to run out beneath our feet.
 “100 days does not leave insurers or asset managers long to finalise arrangements. But the good news is that there is still just enough time to prepare for the need for look-through data and put a process in place. – assuming everything runs smoothly.”

 Under Solvency II legislation, which takes effect from 1 January 2016, insurers will need to provide highly granular look-through data each month on all of their invested assets in order to assess the degree of risk to which each asset is exposed.

 John Dowdall added: “For those insurers who’ve taken all the right steps so far, they key now is to ensure that all the necessary contracts are in place. This will limit the chance of disputes blowing up post-January 2016.”
  

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