Caisse Centrale de Réassurance (CCR), the French State reinsurance company, has mandated Societe Generale Securities Services (SGSS) to help it comply with Solvency II.
The services to be provided are fund and structured products look-through reporting, data enrichment, calculations for the market risk solvency capital requirement (SCR) and financial risk monitoring reports.
SGSS noted that under Solvency II, due to come into effect on 1January 2016, there will be a significant increase in the frequency and level of data to be communicated to regulators. Insurers will also be required to be "fully compliant with the requirements of traceability, auditability and transparency imposed by the Solvency II directive."
CCR is one of the top 25 reinsurance companies in the world