SGSS wins French state reinsurance mandate
Societe Generale Securities Services (SGSS) has been mandated by Caisse Centrale de Réassurance (CCR), the French state reinsurance company, in order to meet the requirements of the Solvency II Directive, to provide fund look-through reporting, data enrichment, market risk Solvency Capital Requirement (SCR) calculations and financial risk monitoring reports.
CCR retained SGSS for its experience as a custodian and valuer of financial assets and, in particular, for its ability to provide a solution aligned with CCR’s quantitative and qualitative requirements.
The Solvency II directive, which is due to come into effect on January 1 2016, will see a significant increase in the frequency and level of data to be communicated to regulators.
SGSS has developed a complete and modular service offering for its institutional investor and asset manager clients, which includes look-through reporting for funds and structured products, market risk SCR calculations, risk indicators for financial assets and associated reporting.SGSS’ dedicated teams of experts will advise and accompany their clientele throughout the procedures to ensure they are fully compliant with the requirements of traceability, auditability and transparency imposed by the Solvency II directive.
CCR is a reinsurance company tasked with designing, implementing and managing efficient instruments providing reinsurance cover for exceptional perils to meet the needs of its clients as well as serve the general interest. Created in 1946, it is now one of the top 25 reinsurance companies in the world.
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