Firms review data governance ahead of Solvency II
Thanks to onerous Solvency II reporting requirements, insurers are being forced to analyse closely their data requirements and reorganise the mess. Louie Woodall reports on the approaches firms are taking to meet the challenge
Solvency II will usher in a new era of regulatory reporting for insurers. Firms will be challenged to produce multiple quantitative and qualitative financial disclosures within startlingly tight timeframes. From January 1, 2016, most insurers will have to produce a complete quantitative reporting template (QRT) quarterly and annually, a solvency and financial condition report annually, and a regular supervisory report triennially. On top of this firms are required to develop an Own Risk and
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