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Solvency II is due to come in to force on 1st January 2016. The new regulatory requirements, coupled with the current market context will have a huge impact on insurance companies. Based in Europe, Amundi is well versed in the implications of these regulatory changes and has built a dedicated platform to support insurers through the transition.
The low-interest environment has led insurers to seek out higher yielding investments as a steady source of income, sometimes turning to infrastructure financing projects.In this context, the European Commission plans to lower the capital charge in infrastructure investments. This draft amendment, released in late September, introduces new rules for calculating the capital charge for qualifying long-term investments for insurance companies.
Solvency II is due to come in to force on 1st January 2016. The new regulatory requirements, coupled with the current complex environment will have a huge impact on insurance companies. Solvency II imposes new accounting and prudential constraints that follow a very tight delivery schedule. By 31st March 2015, the Solvency II Directive, including the amendments of Omnibus II, must be transposed into the legislative framework of each member state. The publication of ‘Implementing Technical Standards’ (ITS) is scheduled for September 2015. Other new requirements are already planned as the Financial Stability Board has formally launched discussions for the development of global capital requirements, including new regulations around capital usage.
Solvency II is a pivotal issue for insurers and asset managers alike. At Amundi, our teams are set up to address the three key areas, or pillars, of Solvency II. Our goal: to provide insurers with dedicated services, from look-through reporting to investment solutions under insurance constraints.
1. TPT : Tri Partite Template.
2. CQS : Credit Quality Steps.
3. Solvency Capital Requirement
In order to gain access to CQS and ratings data, we recommend our clients sign appropriate licenses with the rating agencies of their choice among which Amundi has signed: Standard & Poor’s, Moddy’s and Fitch.
For illustration only. May change without notice.
Discover our latest research papers on Solvency II.
1- European Insurance and Occupational Pensions Authority
2- Solvency Capital Requirement
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