The European Insurance and Occupational Pensions Authority (EIOPA) has submitted to the European Commission draft amendments to two Implementing Technical Standards that set supervisory reporting and public disclosure requirements under Solvency II. The proposals reflect changes from the Solvency II review and are intended to support the European Commission’s simplification agenda, including a targeted reduction of reporting burdens of at least 25% across sectors and 35% for small and medium-sized enterprises. The draft amendments would reduce the frequency of certain templates, delete some annual templates, expand the use of proportionality and introduce technical simplifications. EIOPA estimates that, if implemented as proposed, the number of quarterly templates would fall by 26% for solo undertakings and by 36% for small and non-complex undertakings, while annual templates would fall by 30% and 44% respectively, alongside a 22% reduction in data points. The package also reflects feedback from a July to October 2025 consultation, and includes amended EIOPA Guidelines on supervision of branches of third-country insurance undertakings and on reporting for financial stability purposes to maintain consistency across reporting requirements. The amended supervisory reporting requirements are intended to apply from 30 January 2027 in line with the broader Solvency II review timeline, meaning Q4 2026 and financial year 2026 reporting should follow the current framework, with amended reporting starting from Q1 2027. A similar sequencing applies to public disclosure, with the Solvency and Financial Condition Report for 2026 (disclosed in 2027) based on the current framework and the 2027 report (disclosed in 2028) reflecting the new provisions, including a new structure and audit requirement. EIOPA also proposes a transitional provision to exempt undertakings, in the annual 2026 submission, from quantitative templates expected to be deleted from 30 January 2027.
European Insurance and Occupational Pensions Authority 2026-03-30
European Insurance and Occupational Pensions Authority submits Solvency II reporting ITS amendments to reduce templates and apply from 30 January 2027
The European Insurance and Occupational Pensions Authority has submitted to the European Commission draft amendments to Solvency II Implementing Technical Standards on supervisory reporting and public disclosure, aimed at simplifying requirements and reducing reporting burdens, particularly for small and non-complex undertakings. The package would cut the number and frequency of templates, expand proportionality, introduce technical simplifications, and align related EIOPA Guidelines, with estimated reductions of up to 36% in quarterly templates and 44% in annual templates.