July 13, 2016
Conning's Risk Management Software Supports Talanx's Solvency II Internal Model Certification
LONDON, UK – July 13, 2016 – Conning, a leading global investment manager and financial risk modelling software company, announced today that its GEMS® Economic Scenario Generator and FIRM® Portfolio Analyzer software supported Talanx AG’s Solvency II Internal Model which was approved by German regulator BaFIN effective January 2016.
“Solvency II has changed the landscape and level of sophistication required for insurance company capital modelling and how they manage risk,” said Sherry Manetta, Head of Global Operations for Conning’s Risk Solutions team. “In response to this new requirement, the Talanx Group needed a risk modelling solution with full market risk and asset class coverage across global economies. We are pleased to provide Talanx our award-winning software and expertise in risk modelling.”
Manetta added that Talanx AG is active in 150 countries, and benefited from a customised solution that Conning designed to aggregate individual entity risk modelling solutions at the enterprise level.
Chief Financial Officer of the Talanx Group, Immo Querner added, “As a highly diversified Group offering reinsurance and primary insurance we needed a software solution which could be tailored for specific businesses and geographies, and enable us to map our risk structure in the best possible way. Conning’s GEMS® and FIRM® advanced risk modelling software forms a backbone of our Internal Model structure, integrating seamlessly with other systems, and enabling us to meet Solvency II requirements and our other risk management needs.”
Conning’s GEMS® ESG simulates future states of the global economy and financial markets by providing full market risk and asset class coverage. It leverages industry-leading financial models and offers both real world and market-consistent risk neutral functionality. GEMS® ESG offers robust calibration tools and is used by insurers for applications such as economic capital modelling, market consistent embedded value calculations, stochastic liability and capital valuation, asset portfolio optimization, and derivative and hedging strategies.
FIRM® Portfolio Analyzer provides investment risk modelling capabilities, both on an asset-only basis, and integrating with projected liability cash flows and reserves from other modelling systems.
Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York, and Tokyo. With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modelling software, and industry research. Conning’s risk management software platform includes the award-winning GEMS® Economic Scenario Generator, FIRM® Portfolio Analyzer and ADVISE® Enterprise Risk Modeler. Conning’s software offers sophisticated risk modelling capabilities that provide insights for decision making, regulatory and rating agency compliance, strategic asset allocation and capital management.
Talanx is Germany’s third-largest and one of the major European insurance groups by premium income. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA–/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.
GEMS®, FIRM® and ADVISE® are registered trademarks of Conning, Inc. Copyright 1999 - 2016 Conning, Inc. All Rights Reserved. The products referred to in this press release are proprietary software published and owned by Conning, Inc.
Conning, Inc., Goodwin Capital Advisers, Inc., Conning Investment Products, Inc., a FINRA-registered broker dealer, Conning Asset Management Limited, and Conning Asia Pacific Limited are all direct or indirect subsidiaries of Conning Holdings Limited (collectively, “Conning”) which is one of the family of companies owned by Cathay Financial Holding Co., Ltd., a Taiwan-based company. C#4656412