ESP INS Solvency II Reporting Duties

On Jan. 12, ESP INS issued rules for insurer, reinsurer reporting.

  • ESP INS issued set of documents related to SLV2 reporting by insurers, reinsurers.
  • Follows EIOPA Mar. 2020 recommendations re reporting and disclosure, see #74333.
  • Overview
  • Site compiles several documents on procedures for insurers to submit solvency data.
  • I.e. applications for submission of quantitative data of less than one year periodicity of insurance, reinsurance entities in general/special regime, of branches of 3rd countries.
  • Also on financial stability insurers and groups; all related to fiscal year 2020-2021.
  • Quarterly Submission General Regime (TEL 159)
  • Deadlines for Q4 2020: Feb. 04; Q1 2021: May 5; Q2 2021: Aug. 4; Q3 2021: Nov. 4.
  • Information note re publication by EIOPA of recommendations on periodic information for monitoring purposes in context of Covid on ESP INS website should be considered.
  • Required solvency capital by end of quarterly reference date must be communicated in own funds template (S.23.01) to comply with mentioned EIOPA recommendations.
  • Quarterly Submission Special Regime (TEL 160)
  • Same deadlines apply also template and compliance with EIOPA recommendations.
  • Quarterly Submission for Branches (TEL 162)
  • For branches of insurance and reinsurance companies in third countries; same deadlines apply but also template to use and recommendations to take into account.
  • Quarterly Financial Stability (TEL 163)
  • Deadline for Q4 2020: Feb. 18, 2021, note re EIOPA recommendations on supervisory flexibility in presentation of supervision reports, disclosure must be considered.
  • Deadlines for Q1 2021: May 26; Q2 2021: Aug. 18; Q3 2021: Nov. 18, 2021; information note on EIOPA recommendations does not apply to this submissions.
  • Quarterly Financial Stability for Groups (TEL 164)
  • Same deadlines apply including obligation to consider note on EIOPA recommendation.
  • Note re EIOPA recommendations must be considered only for Q4 2020 submissions.

Regulators ESP INS
Entity Types Corp; IB; Ins
Reference PR 1/12/2021; EIOPA-BoS-20/236; SLV2 Reg 2015/35, Dir 2009/138; COVID-19
Functions Compliance; Financial; Legal; Operations; Reporting; Risk; Treasury
Countries Spain
Products Equity; Insurance
Regions EMEA
Rule Type Guidance
Rule Date 1/12/2021
Effective Date 1/12/2021
Rule Id 95303
Linked to Rule :74333
Reg. Last Update 1/12/2021
Report Section EU

Last substantive update on 01/13/2021