Moody's Analytics Selected By Norway's Gjensidige Insurance for Solvency II Compliance Solution
NEWS | For Immediate Release
LONDON, December 18, 2012 – Moody’s Analytics today announced that Gjensidige, one of Norway’s leading insurance companies, has selected Moody’s Analytics’ Solvency II software, RiskIntegrity™, to enhance its risk management architecture and help it comply with Solvency II. RiskIntegrity is an integrated solution that offers data management and Solvency Capital Requirement (SCR) calculation and regulatory reporting capabilities.
Gjensidige chose Moody’s Analytics Solvency II solution for its out-of-the box regulatory capabilities and user-friendliness. Another factor was Moody’s Analytics expertise in implementing software solutions for large, international organisations.
“Moody’s Analytics offered us the best solution to help us meet regulatory requirements for our Norwegian, Danish, Swedish and Baltic operations. We preferred the solution’s integrated regulatory reporting capabilities, which leverages the same data used for the SCR calculations. This will save us vital time and effort when carrying out our quarterly reporting,” said, Thomas Bichard-Breaud, in charge of Gjensidige’s Solvency II reporting.
Christophe Burckbuchler, Senior Director of Product Management at Moody’s Analytics, said, “We welcome Gjensidige to our growing list of Solvency II clients. This new relationship underscores our commitment to serving the Scandinavian insurance market, as we grow our insurance business in the region.”
RiskIntegrity consolidates regulatory risk data from multiple sources while delivering risk-type aggregation and SCR calculations with integrated reporting capability. It showcases Moody’s Analytics combination of technological sophistication and its wealth of experience in handling large risk management projects around the world.
In addition to RiskIntegrity, Moody’s Analytics offers comprehensive solutions for insurers including RiskFrontier™ for credit VAR calculations and the Barrie + Hibbert iESG Modeling Suite. Barrie + Hibbert was acquired by Moody’s Analytics in 2011.
For more information, please visit www.moodysanalytics.com/riskintegrity.
About Moody’s Analytics
Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including proprietary analyses from Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $2.3 billion in 2011, employs approximately 6,700 people worldwide and has a presence in 28 countries. Further information is available at www.moodysanalytics.com.
Gjensidige is a leading Nordic insurance group built by customers, for customers. The Group has been listed on the Oslo Stock Exchange since 2010. For nearly 200 years, we have worked passionately to secure the lives, health and assets of our customers. We have about 3,100 employees and offer insurance products in Norway, Denmark, Sweden and the Baltic states. In Norway, we also offer banking, pension and savings. Operating income was NOK 19.4 billion in 2011, while total assets was NOK 88.5 billion.