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How are asset managers preparing for Solvency II? - EY - Global

How are asset managers preparing for Solvency II?

Responses to Solvency II challenges

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Most asset managers are still in the early stages of Solvency II readiness and need to accelerate their programs.

We measured the impact of Solvency II on European asset managers who have insurance industry mandates.

Our survey findings reveal opportunities to engage in dialog with insurance clients. However, most asset managers are still in the early stages of Solvency II readiness and need to accelerate their programs.

Solvency II implementation is achievable before January 2014. A positive picture is emerging of asset management’s ability to support insurance firms in meeting that deadline.

Gain further insights in the following sections:
  1. Progress to date
  2. Survey findings: Solvency II and asset management
  3. Adapting to Solvency II

Our survey highlights how the asset management industry is responding to issues focused on Solvency II preparation, requirements, opportunities and threats.

They include:

  1. European asset managers think they will win more insurance business due to Solvency II
  2. Lack of clarity in the Solvency II regulations is the biggest challenge for asset managers
  3. Asset managers believe their client reporting, data and product development by Solvency II
  4. Lack of client requests cited as reason for not having a Solvency II program
  5. Lack of clarity around recouping costs and generating additional fees
  6. Solvency II programs predominantly on schedule




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