EIOPA sets timeline for enhanced reporting under Solvency II

In preparation for the application of the Solvency II regime the European Insurance and Occupational Pensions Authority (EIOPA) has stated that it will prepare:

. two sets of ITS

-  set 1 on the approval processes will be released between April – June 2014 for public consultation with the aim of submitting the final version to the European Commission by 31 October 2014; and

 -  set 2 on Pillar 1 (quantitative basis), Pillar 2 (qualitative requirements), Pillar 3 (enhanced reporting and disclosure) and supervisory transparency will be released between December 2014 - March 2015 for public consultation with the aim of submitting the final version to the EC by 30 June 2015

. two sets of guidelines

-  set 1 - guidelines relevant for approval processes, including Pillar 1 (quantitative basis) and internal models will be released for public consultation between June – September 2014: and

-   set 2 - guidelines relevant for Pillar 2 (qualitative requirements) and Pillar 3 (enhanced reporting and disclosure) will be released for public consultation between December 2014 – March 2015.

 Related link:

https://eiopa.europa.eu/activities/insurance/solvency-ii/index.html%20