Guidelines on system of governance: 2015/35 (the “Delegated Regulation”) are to be applied in case of outsourcing by insurance and reinsurance undertakings to CSPs. The Omnibus II agreement shifts the focus to the … The Bank of England’s Prudential Regulatory Authority recently held a seminar of insurance industry members on Solvency II, providing information on what firms need to do to prepare for transposition on 31 March 2015 and implementation on 1 January 2016. EIOPA issues final Solvency II guidelines Open-access content 27th September 2013 This will permit a gradual and proportionate approach to Solvency II through 'phasing in', the authority said, although national supervisors will be expected to ensure insurance companies and groups take active steps towards implementation. The EIOPA Guidelines shed light on how the outsourcing provisions set forth in the Directive 2009/138/EC (the “Solvency II Directive”) and in the Delegated Regulation (EU) no. Therefore, where the PRA is the group supervisor, the PRA expects non-EEA entities in the group to 2.5 The EIOPA Guidelines. and EIOPA Solvency II XBRL Taxonomy), – provide additional guidelines related to the filing of data in general or specific cases. The Financial Supervision Commission has adopted a decision for complying with the relevant EIOPA Guidelines for preliminary implementation of Solvency II. The Guidelines were finalized following the public consultation earlier this year, during which EIOPA received over 4000 comments. The guidelines are intended to ensure common, uniform, and consistent application of Solvency II law and supervision across all European Union member states. With its Guidelines, EIOPA intends to significantly increase preparedness of both supervisors and insurers for Solvency II once the new framework is applicable. The Directive was transposed into Italian legislation by updating the Insurance Code. EIOPA - EIOPA - Solvency II ITS (External link) EIOPA - Solvency II Guidelines (External link) EIOPA - Risk-Free Interest Rate Term Structures (External link) EIOPA Technical Advice on possible delegated acts concerning the Directive n. 2016/97 on the Insurance Distribution (IDD) pdf 726.4 KB Proposal for Guidelines on the Pre-application for Internal Models (CP-13/011) Press release “EIOPA publishes the final Guidelines for the preparation of Solvency II” Background information about Guidelines on preparing for Solvency II The guidelines are intended to ensure common, uniform, and consistent application of Solvency II law and supervision across all European Union member states. The further clarifications and the raising of certain thresholds to address proportionality concerns are welcome, but firms in some smaller markets will be laden with unfair reporting burdens. The guidelines apply from January 01, 2021 and undertakings … Shortly before Easter, the European Insurance and Occupational Pensions Authority (EIOPA) opened consultation on four sets of Guidelines which seek to bring forward the implementation of certain Solvency II requirements to 1 January 2014. In 2020, the Commission is conducting a review of the Solvency II Directive in line with the legal mandate. reporting guidelines and templates published by EIOPA on 9 July 2012 bring the industry a step closer to understanding their Solvency II reporting obligations. EIOPA issues the second set of Solvency II Guidelines 22 settembre 2015 22 settembre 2015 Tommaso Farè Lascia un commento The EIOPA issued the second set of Solvency II guidelines, these cover different areas from all the three Solvency II pillars (quantitative requirements; governance requirements; reporting and disclosure). Forward Looking Assessment of Own Risks, formerly known as ORSA (Own Risk and Solvency Assessment) EIOPA has published a consultation paper on proposed guidelines for the “forward-looking assessment of the undertaking’s own risks”. In particular it is assumed that all reported The Directive and the EIOPA guidelines require national implementation. EIOPA SII Annotated Templates 2.1.0 Jul 2020; EIOPA SII Validations 2.1.0 Jul 2020 The DPM and taxonomy documents does not address ALL the rules that are defined in the Solvency II information requirements. Solvency II harmonised the prudential framework for insurers and reinsurers in the EU with its entry into application on 1 January 2016. 1. are clear that ‘the holding company should ensure all undertakings that belong to the group comply with the [Solvency II] remuneration requirements’. EIOPA issued the Guidelines … In addition, the German translation of the explanatory texts arranged by BaFin can also be found below in order to provide further guidance. The EIOPA Guidelines included the requirement for an insurance group to have a group 6 Solvency II: Remuneration requirements August 2016 . EIOPA recently released the second set of Solvency II Guidelines addressed to the National Competent Authorities, including the UK’s PRA, Netherlands’ DNB, and Denmark’s FSA. EIOPA Guidelines: Under Article 16(3) of the EIOPA Regulation and Article 71(2)(b) of the Solvency II Directive, National Competent Authorities are required to make every effort to comply with guidelines published by EIOPA. EIOPA has published the final text of its Guidelines on outsourcing to cloud service providers (the “Guidelines”), following last year’s consultation. Solvency II EIOPA published its first set of comprehensive statistical information on the European insurance sector based on Solvency II regulatory reporting. The guidelines published by EIOPA on Solvency II can be found below, including the Guidelines on reporting for financial stability purposes.

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