The release of the utility is a direct result of the industry-wide need for insurance companies to prove they have enough capital funding to prevent them from failing. The Solvency II directive requires insurers to develop 'look-through' transparency over their investments, placing a significant reporting burden on asset managers who will be required to provide unprecedented levels of transparency on the investments of their insurance company clients. In order to retain the mandates of insurance clients, asset managers are being asked to disclose their holdings data which could reveal the investment strategies they are employing.

MoneyMate has developed a look-through and reporting utility that will enable buy-side participants to provide holdings data to insurance investors in a permissioned and controlled environment. The Fund Price and Income Exchange (PIE) utility is a centralised repository which normalises and stores data before it is offered via permissioned distribution to the relevant insurers. With this, asset managers meet Solvency II reporting requirements while still controlling access to look-through views of holdings data within a secure environment. Furthermore, asset managers are provided with identification of their insurance investors who require access to their data, allowing them to identify which investors are in funds with high capital ratio requirements, giving them the ability to provide these investors with the most Solvency II friendly products available.

"Solvency II is a game changer for the industry," commented MoneyMate CTO Ronan Brennan. "Our look-through and reporting utility provides an industry-connected infrastructure and tackles the fundamental challenges for asset managers, third party administrators and their insurance clients under Solvency II: data ownership, opaque investment structures and security for intellectual property. The utility provides connectivity between parties involved in addressing the issues of Solvency II — the regulated investor, their asset manager and their service providers. A landscape-altering regulatory move like this requires a completely new model, and that's what we've done at MoneyMate."