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SUMMARY

Challenges have arrived hand-in-hand with the execution of the necessary enhancements of the complexity and comprehensiveness of Solvency II related reporting:

1) The need for cost efficiency is one.
2) Captives tend to be managed with minimal administrative support, and many will have little scope to increase this resource (and thus their overhead costs) by adding compliance personnel – especially if capital increases are required under Pillars I and II.
3) Further, the predictability of operational costs is critical within organisations designed solely to increase the cost efficiency of captive owners’ risk transfer programmes.

According to a survey commissioned by Noria, many captives have had a painful start to the new reporting routines. The white paper examines the pain points of implementing Solvency II compliant reporting in captives, and the approach of modern policy administration have taken to integrate reporting with core solutions.

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