Solvency II is the European-wide regulatory framework for the insurance industry. Post-Brexit, the UK has adopted reforms and restatements of its rules to provide a new regulatory framework for maintaining the safety and soundness of insurance firms and protecting their policyholders. Solvency II encompasses all insurance and reinsurance firms with gross premium income or gross technical provisions exceeding the thresholds laid out in the EU and UK regulations. It applies to firms headquartered in the EU and with subsidiaries outside the EU ,as well as European subsidiaries of global insurance companies. Asset managers are required to fill out and provide the Tripartite Template (TPT) to their insurance sector clients to help them conduct the Solvency II capital calculations and regulatory reporting.  

ICE offers a comprehensive dataset which can help asset managers complete their reporting requirements for asset managers and insurers under Solvency II, in particular, those laid out in the TPT. The TPT remains widely used in the UK market since its Solvency II reforms. In addition to asset data requirements specific to Quantitative Reporting Templates (QRTs) under Pillar 3, ICE provides the extensive high-quality asset data required to support the Minimum Capital Requirement (MCR) and Solvency Capital Requirement (SCR) calculation process under Pillar 1 requirements. ICE’s Solvency II data solution also contains a number of key data attributes and service capabilities required to support Pillar 1 and Pillar 3 requirements.   

  1. Integrated CIC Code 
  2. Legal Entity Identifier (LEI; ISO 17442) 
  3. Issuer industrial classifications (SIC, NACE, NAICS) 
  4. Market-leading fixed income evaluations 
  5. Robust and extensive market and reference data across fixed income securities, interest rates, derivatives, etc.   

Data Support

Access developer supplements

Specifications

Geographical Coverage
Europe
Data Frequency
Daily | Monthly | Quarterly
Asset Class
Equities | Funds | Fixed Income | Structured Products
Delivery Mechanism
ICE Data API | ICE Data Files

Key Features


Key data points required for Tripartite Template reporting and QRTs (S.06.02, S.06.03) which ICE offers in support of compliance: 

  • Complementary identification Code (CIC) - ICE’s Solvency II solution includes fully integrated mapping logic for the CIC, based on the underlying data attributes to support classification of assets under QRT reporting: applied across ICE’s global securities database to include multiple asset classes
  • Enhanced entity data management with integrated LEIs - ICE’s Business Entity Service combines securities master with entity linkages allowing clients to ‘roll-up’ asset exposures to the issuer and ultimate parent entity. This enables users to understand exposure to a given corporate group. The service Includes support for LEI (Legal Entity Identifier ISO 17442) fully supports underlying LEI reference data attributes and mapped to ICE’s cleansed organizational hierarchies to identify concentration and aggregate exposure. Daily deltas are available to monitor changes
  • Consistent global industrial classifications (includes NACE) - ICE provides industrial classifications data including the pan-European classification system (NACE), Standard Industrial Classification (SIC) and North American Industry Classification System (NAICS). This fully integrated approach provides ICE’s clients with consistency across global entities and mapped to individual assets to enhance sector and geographical analysis: Industrial classifications are applied at the issuer level for consistency across global asset classes 
  • Integrated Evaluated Pricing - ICE’s independent and industry-leading fixed income evaluated pricing service is an integral component of the Solvency II data service, providing evaluated prices for thinly traded fixed income instruments. Fixed Income analytics to stress test assets and model scenarios to determine impact on portfolio values, and help calculate the correct levels of capital required  

Products


ICE Data Files

The evolution of our file-based offering. Bringing together, in a unified solution Corporate Actions, Reference Data, Analytics and our wealth of pricing datasets including ICE Evaluations, CEP, Fair Value Information Services & Listed Market Pricing.

ICE Data API

Buy-side and sell-side front offices continue to embrace more data and more technology in order to expand their opportunities and gain an edge over the competition. Enrich front office systems with ICE’s Data API solution, providing intraday access to fixed income pricing, on-demand analytics, reference data and more.

Interested In learning more about
Regulatory - Solvency II?