16 July 2018
Visit www.gemalto.com

Morningstar launches Solvency II CIC mapping service

29 February 2012  |  2794 views  |  0 Source: Morningstar

Morningstar UK, a subsidiary of Morningstar, Inc., (NASDAQ: MORN), a leading provider of independent investment research, today introduced its new CIC (Complementary Identification Code) Mapping Service, designed to support institutional investors with Solvency II reporting.

Solvency II is an updated set of EU regulations that will require insurance companies operating in the EU to meet enhanced levels of transparency, capital, and risk assessments for investment holdings. This will include the requirement to uniquely identify all holdings against a set of industry standard codes (CICs)—a four-digit number based on type of investment—for all funds and individual securities held by institutional investors.

Delivered through a data feed, Morningstar's new CIC Mapping Service assigns insurers' investment holdings to the standardised security types defined by EIOPA (the European Insurance and Occupational Pensions Authority). The solution uses Morningstar's proprietary rules and data validation processes, and leverages its global database of real-time global market data on more than 8 million securities.

Jimmy Mohns, director of international licensed data for Morningstar comments: "Our goal is to support the asset management and life company market in satisfying the new Solvency II regulations. Our CIC Mapping Service is an extension of our 28-year history in the collection, storage, and distribution of investment data. By working with Morningstar, institutional investors can be assured of a holdings identification solution that supports their Solvency II responsibilities." 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9934 views comments | 18 tweets | 30 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8412 views comments | 3 tweets | 1 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8053 views comments | 6 tweets | 14 linkedin
Faster Payments outage delays thousands of transactionsFaster Payments outage delays thousands of...
7194 views comments | 8 tweets | 19 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job