Our staff have extensive knowledge of the insurance industry and can help you to take advantage of the converging financial services environment. In addtion to our business expertise we can offer experience gained from large successful projects in the field of insurance company management, in particular in the areas of accounting and actuarial services and associated reporting requirements.
Solvency II
With the introduction of Solvency II in the coming years companies will be required to align their finance and risk functions and re-address regulatory reporting requirements to meet the rigorous standards currently in discussion with the European authority EIOPA. NEXONTIS can help you to create transparent and auditable processes from the point of accessing and evaluating source data through to report transmission to the relevant local authorities. Preparing for Solvency II is surely one of the biggest challenges facing the insurance industry today.
IFRS for Insurance
NEXONTIS is also able to support you in meeting the necessary requirements of IFRS 4 Phase II. Expected to come in to force during 2014 and 2015 this will also challenge insurance companies to rethink the valuation of their liabilities in accordance with market value principles. NEXONTIS can support with target processes and available business content.