SGSS secures Solvency II mandate 11 February 2015Paris Reporter: Stephanie Palmer
Image: Shutterstock
Societe Generale Securities Services (SGSS) has been selected by French reinsurance company Caisse Centrale de Réassurance (CCR) for their Solvency II Directive solution.
SGSS will provide look-through reporting, data enrichment, market risk solvency capital requirement (SCR) calculations and financial risk monitoring reports to help CCR comply with Solvency II.
The mandate was based on SGSS’s experience as a custodian and valuer of financial assets, while its solution meets CCR’s other qualitative and quantitative requirements.
The Solvency II directive could lead to a significant increase in the level of data that has to be reported to regulators, and in the frequency of reporting. It is due to come in to effect at the beginning of 2016.
The SGSS service for institutional investors and asset managers includes solutions for funds and structured products as well as for assets and associated reporting.
It also includes an advisory team to help clientele through procedures, ensuring that they are fully compliant with traceability, transparency and auditability requirements under the Solvency II directive.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 