The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Storebrand Chooses Standard & Poor’s Global Data Solutions to Meet Solvency II Risk Management Requirements

Standard & Poor’s Global Data Solutions – part of the S&P Valuation and Risk Strategies group – today announced an agreement to supply Nordic Insurer Storebrand with an integrated data offering for its asset management business, Storebrand Kapitalforvaltning.

The agreement is designed to help Storebrand meet local customer and European regulatory requirements – in particular around concentration risk – across its portfolio. The solution gives Storebrand the capability to feed its securities master database with accurate and timely data needed for regulatory reporting, back office processing and risk reporting.

“Storebrand initially asked us to help with its new concentration limit and credit rating reporting requirements under Solvency II and QIS 5,” said Rui Carvalho, mnaging director, Global Data Solutions, based in New York. “Our RatingsXpress and Security to Entity CrossWalk data feeds deliver these capabilities; however, we also found that we were able to provide data to meet a number of other risk identification and reporting requirements that were important to Storebrand.”

“Good quality in the underlying asset data is crucial for Storebrand to meet the requirements in Solvency II”, said Raman Bhatnagar, chief operating officer in Storebrand Kapitalforvaltning. “S&P Global Data Solutions was able to help us with datasets that enable us to meet some of these requirements”.

Storebrand Kapitalforvaltning will be utilising Global Data Solutions in its new data infrastructure for the purposes of:

• Managing risk classification from a rating perspective,

• Monitoring concentration risks posed by individual securities and their domestic and ultimate parent company – providing a clear picture of market exposure and potential conflicts of interest across portfolios,

• Accessing a comprehensive database of global security identifiers to cross-referencing their holdings.

• Accessing real-time terms and conditions data for more than two million fixed income securities,

• Accessing the CUSIP Global Services database.

Global Data Solutions combines high-quality, multi-asset class and market data to help investors meet the new analytical, risk management, regulatory and front- to back-office operations requirements. Access to this specialised content, including Standard & Poor’s exclusive data sets, is available through a customisable portfolio, flexible data packages and a variety of other delivery formats.

Marc Anthonisen, managing director who heads Global Data Solutions for EMEA and Asia, said that S&P continues to develop custom data solutions to meet new regulatory requirements under Solvency II, Basel III, IFRS 7 and IFRS 9: “Regulatory reporting will be the focus of our feed product development in Europe over the next few years. We are seeing a lot of client demand around tracking exposure in both the asset management and risk management spaces.”

Related content

WEBINAR

Upcoming Webinar: A new way of collaborating with data

Date: 15 April 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil...

BLOG

DMS US Virtual Goes Live with a Practitioner Innovation Keynote and Real-Time Q&As

A-Team Group’s Data Management Summit USA Virtual kicked off today with a hugely insightful live practitioner innovation keynote followed by two live, and lively, Q&A sessions packed with audience questions and answered by the day’s expert keynote and panel speakers. Andrew Delaney, president and chief content officer at A-Team, hosted today’s live sessions of the...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...