SimCorp today announced that one of Scandinavia’s largest asset managers, Swedish domiciled Swedbank Robur, is in operation with the SimCorp Dimension Solvency II solution. The solution enables calculation of the Solvency Capital Requirement under Pillar 1, plus authority reporting, public disclosure and risk reporting under Pillar 3 of the Solvency II directive.
Already operating with SimCorp Dimension as its core investment management platform, SimCorp’s Solvency II solution was the natural choice for Swedbank Robur when the fund manager was faced with a specific demand from one of its clients.
“Our strategy is to maximize the utilization of SimCorp Dimension by having the system support as many standard business processes as possible. We now benefit from a Solvency II solution which is fully integrated with the rest of our system. The result is higher data quality, lower operational risk and low maintenance cost. As it is an integrated part of our system setup, the solution can also be offered to our other clients,” comments Robert Hyltén-Cavallius, Head of Reporting at Swedbank Robur.
After several postponements, Solvency II is currently expected to come into effect in 2016, but with interim measures likely to apply from January 2014.
“Being on the forefront of Solvency II compliance is a wise step. The many and complex legislative measures offer insurers an opportunity to evaluate their risk, which allows for improved risk-adjusted performance and operational efficiency. Being one of the first to implement the Solvency II solution can, apart from securing compliance ahead of time, prove a competitive advantage to Swedbank Robur,” says Arnt Eilertsen, Managing Director of SimCorp Nordic.
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Enquiries regarding this announcement should be addressed to:
Anders Crillesen, SimCorp Nordic, +45 2779 1286
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About Swedbank Robur
Swedbank Robur offers savings products for private individuals and institutional clients. The products range from investment funds to life insurance, pension products and discretionary investment management. Approximate 115 investment funds are open for investments covering all major regions, sectors and asset classes. Altogether, Swedbank Robur serves approximately 3.1 million customers in Sweden and 1.1 million in the Baltic region, for whom it manages approximately € 70 billion in assets.
Since 1971, SimCorp has been providing investment and portfolio management solutions and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s world-class software provides global financial organisations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp’s products, please visit www.simcorp.com/product.