Solvency II update Quantitative Reporting Templates PierreJean Vouette

Solvency II update Quantitative Reporting Templates Pierre-Jean Vouette (CEIOPS) XIII European Banking Supervisors XBRL Workshop, Luxemburg, 25 Nov 2010 9/20/2021 Page 1

CEIOPS Executive summary • Objectives • General structure • Frequency and Deadlines • Informal consultation with the stakeholders • IT dimension 9/20/2021 Page 2

CEIOPS Objectives (1/2) • Quantitative data => essential input for the supervisory process (at the micro and macro levels) • Part of regular reporting, with a standardized format • Concerns both solo entities and groups • Content to be developed at Level 3 (Binding Technical Standards) 9/20/2021 Page 3

CEIOPS Objectives (2/2) • Current situation : huge differences between member states • Solvency II templates => harmonized for all EEA undertakings : will replace existing national requirements • Why harmonization is important : • Exchange of information between authorities (esp. for colleges) • Comparison of data between countries • Aggregation of figures at the European level • Reduction of burden for undertakings (esp. cross-border) • Convergence of supervisory practices 9/20/2021 Page 4

CEIOPS General structure (1/2) Harmonised elements Balance sheet Assets (incl. detailed list) Technical provisions development National specificities Results analysis Capital requirements Reinsurance Received in a harmonised format, capable of being shared automatically with EIOPA and/or other supervisory authorities + Specific regulations or activities : e. g. distribution of profits, P&I clubs, etc. ; Accounting information Received in locally-defined format and not automatically shared 9/20/2021 Page 5

CEIOPS General structure (2/2) Solo Templates (EEA (re)insurance entities) Group-specific Templates (non-EEA or non-insurance entities, IGT, risk concentr°) Group Templates Also for sub groups (when there is sub group supervision!) 9/20/2021 Page 66 Page

CEIOPS Frequency and deadlines • Frequency : both annual and quarterly (for “core” data) • Deadlines : End of reporting period (T) Quarterly templates = T+6 weeks Annual templates = T+16 weeks Group templates = T+20 weeks • 1 st Solvency II templates : Q 1 2013 (quarterly), reporting year 2013 (annual) 9/20/2021 Page 7

CEIOPS Consultation Process • First draft of (solo) templates in CEIOPS’ Consultation Paper 58 • Further consultation within CEIOPS, to deal with major concerns • Informal consultation with stakeholders from April to Sept 2010 • Pre-Consultation in December 2010 • Open issue : stabilize content in late 2011 (before formal BTS adoption in 2012), to give more implementation time to undertakings & supervisors 9/20/2021 Page 8

CEIOPS IT dimension • New framework (valuation + risks assessment) for supervisors and undertakings: many new concepts at the same time. • More than 3500 reporting entities + tight timeline • Initial arguments in favour of an XML solution seen easier in this context • Work started end of june. Taxonomy still being developed. Some templates are perhaps more complex than initially envisaged. • Dependence on business requirements stabilisation • Next steps : pre-consultation, formal consultation, binding solution. To go live at the beginning of 2013 9/20/2021 Page 9

Thank you pierre-jean. vouette@ceiops. eu 9/20/2021 Page 10