Gibraltar Financial Services Commission Solvency II Full Application

Gibraltar Financial Services Commission Solvency II Full Application Pillar 3 Reporting Technical Update 23/02/2021 SII Technical Workshop Author John Pashley Date September 2015 Version 1. 0 Status For Information 1

Workshop Objectives • To advise filers of the FSC’s delivery plan relating to SII data collection, including activities that require industry participation. • To provide an update on EIOPA’s technical documentation, with respect to implementing Solvency II Pillar 3 reporting. • To identify key points that filer’s should consider in preparation for meeting their reporting obligations. • To update filers on the technology that will be used by the FSC for the collection of SII data from January 2016. • To identify topics of interest for a subsequent workshop. Firms remain responsible for ensuring they have conclusive understanding of the legislation and their obligations to comply with EU reporting requirements. 23/02/2021 SII Technical Workshop 2

High Level Delivery Plan Taxonomy version with which EIOPA expected to go live for 2016 reporting. Full Application portal available for firms to start testing. Participating firms confirmed to have completed at least one successful test submission. First ITS submission window open. 23/02/2021 First EIOPA reporting deadline (quarterly). SII Technical Workshop 3

Responsibilities over the Reporting Chain Regulated Group Solo Entity Level 1 Reporting Solo Entity FSC Collect Transfer Level 2 Reporting Utilise Insurance Undertaking National Supervisory Authority European Supervisory Authority Complete regulatory reporting in accordance with Implementing Technical Standards. Validate Company and Group datasets. Authorise and Submit. Collect data from regulated entities and groups. Validate Gibraltar dataset. Analyse & assess implications. Respond to Firms. Collect data from National Authorities. Validate EU dataset. Analyse & Assess implications. Respond to Regulators. 23/02/2021 SII Technical Workshop 4

SII Filing Process 3. 1 Reference Guidance Regulated Firm 3. 4 Source Data Implementing Technical Standards 3. 2 Reference Regulation 6. 2 Enter Excel Data 2. 2 Publish Supporting Material 7. 1 Create XBRL 1 Publish Regulation EU Regulation 3. 3 Reference Taxonomy (XBRL Upload) 5 Enter Data Online XBRL Taxonomy XBRL Document Excel File 6. 1 6. 3 Upload Excel 2. 1 Publish Taxonomy Download Excel Template Excel 4. 1 Map Taxonomy to Data Entry 7. 2 Upload XBRL Web FSC Invoke SII Filing Portal 4. 2 Publish Forms On Filing Portal Software Implementation of SII Reporting Specification 8 Run Compliance Checks 9 Extract XBRL 10 Supply Data To EIOPA FSC Software Vendor XBRL Document FSC Supervisor 23/02/2021 SII Technical Workshop 5

(Some) Sources of Information Prior Legislative Text REGULATION (EU) 2015/35 (Omnibus II) DIRECTIVE 2003/71/EC DIRECTIVE 2009/138/EC Implements DIRECTIVE 2014/51/EU (Omnibus II) Supplements Or Amends Implementing Regulation (EU) No 2015/? ? Supplementary Guidance Based on Regulation (EC) No 1060/2009 Implementing Technical Standards Regulation (EU) No 1094/2010 Vendors & Consultancies Regulation (EU) No 1095/2010 Support Tooling DPM Including DPM DB XBRL Taxonomy XML <xml/> XSD <xml/> Supporting Documents Taxonomy Architecture Filing Rules EIOPA Guidance Etc. Invoke Filing Portal DPM Architect Tool for Undertakings Arelle Specialist Software 23/02/2021 SII Technical Workshop 6

Many Elements to the ITS • Main Package – – – Draft ITS Annotated Templates List of implemented validations Data Point Model XBRL Taxonomy • V 2. 0. 0 Published • V 2. 0. 1 minor update due by October Candidate recommendation published • Additional Material – EIOPA DPM Documentation – XBRL Taxonomy Documentation – Filing Rules (EIOPA -> EBA -> CEN) • GFSC Website • PRA Filing Manual additional guidance & national discretion 23/02/2021 SII Technical Workshop 7

Implementing Regulation (Draft) • General Observations – – – • Reference to other documentation Noteworthy Points Decreasing Transitional Deadlines Reporting Context Reporting Modules (Entry Points) Filing Indicators Day 1 Annual ECB Quarterly 3 rd Country Solo SPV Groups Template Observations – Content of Submission – List All, Provide Detail where Material • e. g. S. 25. 01 – Quarterly Aggregation & Annual Detail • e. g. S. 05. 02 – Conditional Reporting • e. g. S. 06. 03 – Use of Codes • e. g. S. 06. 02 ref. ITS Annex IV & Annex V 23/02/2021 SII Technical Workshop 8

Useful Links • EIOPA – Solvency II Reporting – Technical Specification • https: //eiopa. europa. eu/regulation-supervision/insurance/reporting-format • Gibraltar Financial Services Commission – Preparatory Phase Workshop Presentation • http: //www. fsc. gi/download/adobe/Solvency 2 Technology. Workshop. pdf – SII Reporting Page • http: //www. fsc. gi/firms/solvencyiireporting. htm • Invoke – Website: http: //www. invoke-software. com/ – SII Portal Video: https: //www. youtube. com/watch? v=Vl. ZA 08 nw. JKQ • XBRL Organisation – Standards and related material • https: //www. xbrl. org/ 23/02/2021 SII Technical Workshop 9

Filer Checklist þ Refer to the EIOPA documentation to confirm your ability to source the required reporting data. þ Ensure you have a Legal Entity Identifier (LEI) for every required entity. þ Make appropriate arrangements to enable participation in the Testing activities. þ Consider your operational procedures and advise the FSC if you need changes to your User Profiles. þ Review the Invoke Portal User Guide. Remember that Data Quality, Accuracy and Completeness are the Filers responsibility under EU legislation. Don’t change the structure of templates that are downloaded into Excel as this may prevent the data from uploading into the Invoke Portal. 23/02/2021 SII Technical Workshop 10

EIOPA Tool for Undertakings Invoke Filing Portal for Solvency II Software Demonstration 23/02/2021 SII Technical Workshop 11

Demo Topics • General Portal • Calendar Navigation • Data Entry – Web Form – Excel Download – XBRL Upload • Multiple Dimensions – Dynamic Sheets – Dynamic Columns – Dynamic Rows • Validation – Single Template – Multiple Templates – Highlighted Cells • Approval & Submission 23/02/2021 SII Technical Workshop 12

Thank You Questions 23/02/2021 SII Technical Workshop 13