Jupiter and Neptune choose FundsLibrary for Solvency II Services

  • Solvency II requires robust data provision systems
  • Time is running out – Solvency II compliance deadline 1st January 2016

Jupiter Asset Management and Neptune Investment Management have chosen FundsLibrary’s Solvency II Manager solution to provide their Solvency II reporting. From January 2016 asset managers will need to provide a greatly increased quantity of data for their insurer clients to comply with Solvency II reporting. Jupiter and Neptune are now amongst a select group of firms who have decided on their approach so that they are fully prepared when the regulation arrives.

Amber Jefferis, Solvency II Analyst, FundsLibrary;

“Solvency II is a real challenge. Insurers and Asset Managers must ensure they have robust and timely data delivery mechanisms in place by 1st January 2016. Time is running out to put the correct distribution agreements in place. Organisations who are not yet compliant risk missing the deadline and facing the wrath of the regulator.

“The industry is alert to the threat of Solvency II but Jupiter and Neptune are definitely ahead of the game,” continues Jefferis. “Based on our analysis, solutions which incorporate strong look-through capabilities, a robust file production process, the requisite legal agreements and a permission controlled distribution service will be the most successful.”

Solvency II Requirements

The aim of Solvency II is to provide greater transparency amongst Insurers over the capital they hold in reserve. Ultimately it brings about much more stringent data reporting requirements for Insurers, with the task of providing this data falling in part to Asset Managers.

The key to this additional reporting is the look-through process, which peels back the layers of financial product wrapping to reveal the data at its most granular security level.

FundsLibrary’s solution brings together data from Asset Managers and selected third parties and by applying their own advanced data look-through and analysis expertise they are able to provide the required data outputs for Insurers to meet regulatory obligations.

FundsLibrary already has many of the required legal agreements in place and has been providing look-through data for more than 10 years.