Thomson Reuters has unveiled a new Solvency II Data Service to assist, asset managers, insurers, fund administers and custodians to comply with capital adequacy and disclosure obligations under Solvency II Directive.
The service is available via the firm’s DataScope Select platform and provides clients with the key data sets needed to power their capital adequacy, disclosure tools and workflows.
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Powered by Thomson Reuters Lipper database, the service also provides instrument and issuer classifications such as NACE and CIC required for Solvency II assessments and disclosers.
Additionally, the solution also provides access to the identification codes needed for mapping and reporting purposes in the Quantitative Report Templates (QRT), reduces errors and streamline the generation of reports.
Thomson Reuters Solvency II Data Service also simplifies the minimum capital requirement (MCR) and Solvency Capital Requirement (SCR) and provides Last Liquidity Point (LLP) and Ultimate Forward Rate (UFR) to value assets and liabilities.
Tim Lind, global head of financial regulation solutions at Thomson Reuters, said: "As Solvency II requirements become increasingly complex and demanding, we continue to work closely with our clients to develop offerings to help them better meet their evolving regulatory and operational obligations.
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By GlobalData"This new offering not only adds to Accelus Risk Manager, our risk management and Own Risk and Solvency Assessment -ORSA- risk modeling solution, but also builds on the growing portfolio of solutions that we have around FATCA, FRS, Financial Transaction Tax and Dodd Frank," he added.
