Latest News
Dublin Web Summit: Where the Tech World Meets
Enterprise Ireland clients triumph at the EY Entrepreneur of the Year Awards
Innovation Showcase
New entrepreneurship plan aims for 93,000 extra jobs by promoting Irish start-ups
Client Spotlight
Ribworld to create 100 new jobs in Tipperary
FINEOS creates jobs at Dublin HQ
Dairygold to create 115 jobs as part of €117m investment
Innovation Arena winners stand out at the National Ploughing Championships
Research & Innovation
€5m investment in new pharma manufacturing tech centre
More companies benefit from increased collaboration with Research Performing Organisations
Technology Gateways open doors for industry
Startup Zone
A Rising Star within the Irish Cleantech Sector
New online banking start-up offers peer-to-peer financing for small businesses
Medtech startup Embo Medical secures €3 million investment
International Activities
Trade increase after successful Turkey mission
Focus on Enterprise Ireland’s International Markets Week as export opportunities grow
Education Minister leads trade mission to China
Education & Careers
Calling all enterprising students
Ireland’s next generation of food entrepreneurs sought for 2015 programme

Upcoming Events
Dublin Web Summit
Meet the buyer event
CEO Forum
Contact Us  Follow Us
North America News

Hawthorn Life insurance adopts software from Dublin-based Financial Risk Solutions (FRS) to meet its Solvency II requirements


Financial Risk Solutions (FRS), a provider of investment administration and compliance software solutions, has announced that its Invest|GRC™ (Governance, Risk & Compliance) product has been implemented by Hawthorn Life, a Berkshire Hathaway company. The implementation is 15 months ahead of the Jan 2016 deadline for Solvency II asset-reporting, which dictates that insurance companies must provide more granular and more frequent insight into the risk and return profile of their investments.

The unique software allows for the fully-automated production of Pillar 3 D1 (investments data) and D4 (investment funds) Solvency II reports by consuming and enriching data from various sources. For Hawthorn Life these sources include Morningstar data and a fund-pricing outsourcer for daily holdings data. The combined data can then be used for monitoring and reporting in the prescribed QRT (Quantitative Reporting Templates) format.

Brian Aherne of Hawthorn Life comments “Through our adoption of Invest|GRC™ being able to view and report on our investments and funds not only helps us meet our regulatory requirements but also benefits our overall business – and we have been able to do this quickly, efficiently and at minimal cost to our business. The process of adopting the software from FRS was seamless and efficient, which means that we are now 15 months ahead of our regulatory deadline and can concentrate on our main business of serving our clients.”

Frank Carr, Chief Marketing Officer at FRS says “QRT reporting is quite a challenge for life companies – mainly because of the sheer volume of data and frequency of reporting required. So having one system that can seamlessly facilitate that, yet has the ability to work with existing data sources is important. Having Hawthorn Life adopt Invest|GRC™ is real testament to our ability to deliver a software solution that works – and puts Hawthorn at a real advantage in terms of Solvency II readiness.”

Facebook Twitter LinkedIn Del.icio.us
Newsletter Marketing Powered by Newsweaver