Silverfinch has been appointed by Franklin Templeton Investments to handle the “huge quantity” of look-through data requests the firm has said it expects to receive from its insurer clients as a result of Solvency II.
Silverfinch is a secure fund data utility that allows asset managers to respond to their insurance company investors, who will be compelled to provide regulators with detailed information on invested assets from 1 January 2016, when Solvency II takes effect.
John Dowdall, managing director of Silverfinch said: “The ticking of the Solvency II clock is growing ever louder.”
“What’s concerning is the number of those in the asset management industry still unsure as to how they will deal with the hundreds, potentially thousands, of requests for very granular look-through data from their insurer clients.”
“Unless asset managers can provide the necessary information, in the right format and within regulatory deadlines, these insurers will be in great difficulty.”
