European Insurance and Occupational Pensions Authority launches consultation on Solvency II reporting and disclosure changes to cut requirements by at least 26%

The European Insurance and Occupational Pensions Authority has launched a consultation package proposing amendments to Solvency II supervisory reporting and public disclosure requirements intended to reduce the reporting burden for (re)insurance undertakings. The package covers changes to the Implementing Technical Standards on supervisory reporting and public disclosure, alongside draft revised guidelines on reporting for financial stability purposes and on the supervision of branches of third-country insurance undertakings. The revisions would incorporate changes introduced through the Solvency II review while further streamlining requirements following EIOPA’s 2023 update. Proposed burden reduction measures include lowering the frequency of certain templates, deleting some annual templates, expanding the use of proportionality, and making technical simplifications, as well as correcting errors and inconsistencies identified since the last ITS revision, while introducing only a limited set of new information. If implemented as proposed, EIOPA estimates reporting would fall by at least 26% for solo undertakings in the number of annual and quarterly templates (22% in data points) and by at least 36% for small and non-complex undertakings. Comments are requested via the EU Survey by 10 October 2025, with responses to be published on EIOPA’s website unless respondents request otherwise.