Swedbank goes live with SimCorp solvency solution
03 July 2013 Stockholm
Image: Shutterstock
Swedish domiciled Swedbank Robur has adopted the SimCorp Dimension Solvency II solution.
The solution enables calculation of the solvency capital requirement under pillar 1, plus authority reporting, public disclosure and risk reporting under pillar 3 of the Solvency II directive.
After several postponements, Solvency II is currently expected to come into effect in 2016, but with interim measures likely to apply from January 2014.
Robert Hyltén-Cavallius, head of reporting at Swedbank Robur, said: “Our strategy is to maximise the utilisation of SimCorp Dimension by having the system support as many standard business processes as possible.”
“We now benefit from a Solvency II solution which is fully integrated with the rest of our system. The result is higher data quality, lower operational risk and low maintenance cost. As it is an integrated part of our system setup, the solution can also be offered to our other clients.”
Arnt Eilertsen, managing director of SimCorp Nordic, added: “Being on the forefront of Solvency II compliance is a wise step. The many and complex legislative measures offer insurers an opportunity to evaluate their risk, which allows for improved risk-adjusted performance and operation efficiency.”
The solution enables calculation of the solvency capital requirement under pillar 1, plus authority reporting, public disclosure and risk reporting under pillar 3 of the Solvency II directive.
After several postponements, Solvency II is currently expected to come into effect in 2016, but with interim measures likely to apply from January 2014.
Robert Hyltén-Cavallius, head of reporting at Swedbank Robur, said: “Our strategy is to maximise the utilisation of SimCorp Dimension by having the system support as many standard business processes as possible.”
“We now benefit from a Solvency II solution which is fully integrated with the rest of our system. The result is higher data quality, lower operational risk and low maintenance cost. As it is an integrated part of our system setup, the solution can also be offered to our other clients.”
Arnt Eilertsen, managing director of SimCorp Nordic, added: “Being on the forefront of Solvency II compliance is a wise step. The many and complex legislative measures offer insurers an opportunity to evaluate their risk, which allows for improved risk-adjusted performance and operation efficiency.”
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