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The service enables risk managers to perform more accurate risk calculations and to manage capital requirements better through accurate valuation, while also assisting firms in meeting the reporting challenges they will face following the implementation of Solvency II.
Tullett Prebon Information has combined its core expertise in the global OTC markets with the experience of an internationally renowned insurance specialist to develop a comprehensive data solution. The service provides tailored and quality-assured data curves enabling the calibration of risk models required in the calculation of minimum solvency requirements.
Importantly, the service offers insurance designed liquidity-adjusted and credit-adjusted curves with an emphasis on forward-looking risk management and governance through the extrapolation of data out to 120 years.
The Solvency II Benchmark Curves Service comprises:
Commenting on the product launch, Frank Desmond, Managing Director of Tullett Prebon Information said:
"Solvency II presents a huge challenge for the insurance and asset management sectors. Solvency II Benchmark Curves offer clients a compelling solution to meeting the challenges posed by Solvency II through the unique combination of Tullett Prebon Information's independent, high quality OTC data coupled with IDS Allianz's in-depth insurance and risk management expertise.
"The service was developed by IDS to assist Allianz in meeting its own risk management and valuation requirements for Solvency II. We had a vast amount of market data, but lacked the OTC data as, like most insurance companies, we do not have direct access to the OTC markets. We selected Tullett Prebon because of the quality of their data and identified a tremendous opportunity to develop the Solvency II Benchmark Curves service."