Solvency II is European Legislation that is the responsibility of the insurance industry. However, the impact on asset managers is significant. Here we list 10 key issues to consider.
1. Asset Managers need to view Solvency II as a long term strategic issue, consider change as Solvency II beds in and investigate the best long term, cost effective solutions as the market develops and matures. Solvency II will develop over time as the European Commission reflects on lessons learned, and this will impact the insurance market further and, consequently, the asset management industry. January 2016 or whatever date you choose is not the end, more likely the beginning of increasing asset / liability and macro data demands by regulators.
2. All asset managers should analyse Solvency II for their business, regardless of their exposure to insurance clients. It won't be going away and Insurance mandates are a significant sector of the market. Solvency II is likely to be a template for further regulation affecting other client types. Firms with no solution or no knowledge of the requirements and challenges will be strongly disadvantaged in the market.
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