Algorithmics signs Nordea for Solvency II 18 October 2011London Reporter: Anna Reitman
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Algorithmics has announced that Nordea Life and Pensions has chosen its compliance and reporting edition to address Solvency II regulatory compliance.
This newly launched edition is designed to provide Nordea Life and Pensions, which has operations in the Nordics, the Baltic countries, Poland, Luxembourg and the Isle of Man, with a complete end-to-end solution, calculations and robust environment from which to undertake its Solvency II project.
Dr Andrew Aziz, executive vice president of Buy-Side Risk Solutions at Algorithmics, says,“Based on feedback from our clients we decided to broaden our existing proven Solvency II solution to include the full range of approaches...from internal models to standard formula...We look forward to working with Nordea Life and Pensions, initially on their Standard Formula approach, and then as they move to an internal model approach for Solvency II compliance.”
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