🇩🇪Germany

Manuelle Solvency-II-Reporting und Look-Through-Datenauswertung für Versicherungsinvestoren

2 verified sources

Definition

Solvency II regulations (German Insurance Supervision Act, VAG) require insurance investors to maintain transparency on underlying fund holdings and risks. Asset managers are expected to provide look-through data via a standardized tri-partite template (Solvency II investor reporting standard), breaking down fund positions by asset class, liquidity rating, counterparty, and concentration. This requires manual cross-referencing between fund portfolios, accounting systems, and Solvency II classification tables. Quarterly cycles, multiple fund shares, and complex instruments (derivatives, bonds, structured products) amplify manual effort. Errors in asset classification or missing liquidity data delay investor decision-making and create audit findings (non-compliant Solvency II reporting) that trigger regulatory follow-ups.

Key Findings

  • Financial Impact: Manual work: 60-120 hours/quarter @ €50-€100/hour = €3,000-€12,000/quarter (€12,000-€48,000/year). Rework due to errors: additional 10-20 hours/quarter = €500-€2,000/quarter (€2,000-€8,000/year).
  • Frequency: Quarterly (4 cycles/year); some mid-quarter updates for large investor queries.
  • Root Cause: Fund accounting, portfolio management, and Solvency II classification systems do not share real-time data; manual data migration and validation are required.

Why This Matters

This pain point represents a significant opportunity for B2B solutions targeting Investment Management.

Affected Stakeholders

Fund operations / middle office, Client reporting specialists, Portfolio data analysts, Risk & compliance teams

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Financial Impact

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Meldepflicht-Verstöße bei grenzüberschreitenden Zahlungsverkehren

€30,000 per violation; estimated 3-10 violations/year per firm = €90,000-€300,000/year in fine exposure. Additional: 30-50 hours/month manual compliance work valued at €3,000-€5,000/month (€36,000-€60,000/year).

Systemübergangskosten für neue Meldeverfahren und XML-Schemas

€20,000-€100,000 per firm for system upgrade/integration. Additionally, 40-80 hours/quarter manual file conversion and validation = €4,000-€8,000/quarter (€16,000-€32,000/year) until summer 2026.

Prospektiv-Haftungsrisiken bei unvollständiger oder fehlerhafter Berichterstattung

Per-event refund/compensation: €50,000-€500,000 depending on fund size and investor count. Litigation costs: €10,000-€50,000. Regulatory remediation orders (BAFin) may require reprinting, restatement, or customer outreach (€20,000-€100,000).

Insider-Informations-Meldepflichten und MiCAR-Compliance-Strafen

Administrative fines: €100,000-€1,000,000+ (BaFin discretion, based on severity and firm revenue). Operational cost (manual insider monitoring): €5,000-€15,000/month (€60,000-€180,000/year) until automated.

DAC 8 Compliance-Implementierung für Kryptowährungs-Dienstleister und digitale Zahlungsinstrumente

One-time setup: €10,000-€33,000 per firm. Ongoing: €12,000-€36,000/year (monthly reporting reconciliation). Penalty exposure: €5,000-€30,000 per missed/late filing.

Mangelnde Transparenz bei der Meldung von Gegenpartei-Engagements gegenüber BaFin und ECB

€10,000–€100,000 per submission error or late filing (BaFin discretionary fines); €50,000–€500,000 for systemic reporting failures; 80–160 hours/month in manual COREP data preparation and reconciliation

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