Morningstar UK has signed a deal with Global Actuarial to deliver it with investment holdings data and to assist life insurance companies in reporting to Solvency II standards.

As per the data agreement, the holdings data will be integrated in a web-based tool developed by Global Actuarial.

The application will be a complementary offering to insurance organisations across Europe, as they prepare for the introduction of Solvency II by 1 January 2014, Morningstar said.

Solvency II is an updated set of regulations requiring insurance companies operating in the European Union to meet enhanced solvency capital as per the Solvency II requirements that must be calculated quarterly and monitored on an ongoing basis.

Using Morningstar data, the Global Actuarial tool will enable life insurance companies to have an immediate view of capital risk with portfolio holdings data for investments in European funds and other vehicles.

The tool will also provide access to granular data in a specific format, as well as facilitate determining the stress factors for market risk through a completely auditable process.

Morningstar offers fund databases to life insurance companies, with data on about 330,000 investment offerings.