Conning's risk management software supports Talanx's Solvency II model

Conning, an investment manager and financial risk modeling software company, has had its GEMS Economic Scenario Generator and FIRM Portfolio Analyzer software approved by BaFIN, a German regulator.

The software has also supported Talanx AG’s, a German European insurance group, Solvency II Integral Model. Sherry Manetta, head of global operations for Conning’s Risk Solutions team, said: “Solvency II has changed the landscape and level of sophistication required for insurance company capital modelling and how they manage risk.

“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.”

She also added that Talanx AG works in 150 countries, and benefited from a customised solution that Conning designed to aggregate individual entity risk modelling solutions at the enterprise level.

Immo Querner, chief financial officer of the Talanx Group, said: “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.”