26 Nov 2018

Changes to Solvency II reporting standard from Q4 2018

The Amendment to the Implementing Technical Standard on Reporting recently published introduces minimal changes to the data which needs to be reported. The most significant change is additional reporting in relation to market risk related to infrastructure investments for insurance companies which invest in infrastructure. 

However changes to the guidance contained in Annex II affect a larger number of reports and insurers should consider whether these changes will impact on the data to be reported.

The largest number of changes lie however in the validation rules which are not part of the Technical Standard. These validation rules are published by EIOPA and form part of the XBRL Taxonomy (Release 2.3.0) which applies from 31.12.2018. The new taxonomy contains over 300 new validation rules. We recommend insurers allow time in their reporting plans for possible adjustments to data to satisfy the new requirements.