Preparing for Solvency II
Time for asset managers and asset servicers to act
The insurance industry is a significant player in the overall fund sector, accounting for an estimated 42% of the European asset management market.This represents approximately €7 trillion1 of assets held by an estimated 4,325 insurance and reinsurance undertakings across Europe. Although the incoming Solvency II regulations are not directly applicable to the fund sector, they will impact on Asset Managers and asset servicers (AMs) with insurance sector mandates in two ways.
Firstly, considerable efforts will need to be undertaken by the asset management sector to become compliant with insurance-specific portfolio requirements.
Secondly, sound levels of preparation in this regard offer a competitive advantage to those AMs seeking to increase mandate wins from insurance clients. We outline the key areas of focus in this article.
Performance issue 16 - January 2015
Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.