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.
- 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.
||Corp; IB; Ins
||PR 1/12/2021; EIOPA-BoS-20/236; SLV2 Reg 2015/35, Dir 2009/138; COVID-19
||Compliance; Financial; Legal; Operations; Reporting; Risk; Treasury
|Reg. Last Update
Last substantive update on 01/13/2021