European Commission's Letter to EIOPA on amended draft ITS on supervisory reporting and on public disclosure
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Letter from the European Commission's DG FISMA to EIOPA Chairperson Petra Hielkema stating that it will amend the draft Solvency II ITS on supervisory reporting and public disclosure to remove the instructions from them, which will instead be published separately on EIOPA's website, as was done in 2024 with the banking ITS.
Key points
- The revised ITS cut reporting: lower frequency for some quarterly templates, removal of annual templates and technical simplifications.
- Small and non-complex undertakings and groups will only have to submit three templates in the first and third quarters.
- The ITS on public disclosure removes several templates and streamlines others.
- Legal basis: Articles 35(10) and 56 of the Solvency II Directive, as amended by Directive (EU) 2025/2, task EIOPA with developing IT solutions, including for the instructions.
Who is affected
EU insurers and reinsurers, especially small and non-complex ones; national supervisors.
Deadlines
No new date in the letter; the revised Solvency II applies from 30 January 2027.
Plain-language version
The European Commission writes to EIOPA, the EU insurance watchdog, to explain that the instructions for insurers' reports will be taken out of the law and published on EIOPA's website. The new rules also cut paperwork: small and simple insurers will only send three templates in the first and third quarters.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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