Firms review data governance ahead of Solvency II

Insurers are implementing practical and cultural changes

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Solvency II will usher in a new era of regulatory reporting for insurers. Firms will be challenged to produce multiple quantitative and qualitative financial disclosures within startlingly tight timeframes. From January 1, 2016, most insurers will have to produce a complete quantitative reporting template (QRT) quarterly and annually, a solvency and financial condition report annually, and a regular supervisory report triennially. On top of this firms are required to develop an Own Risk and S