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Solvency II Reporting and Disclosure

Overview. What reports will be required? What is in those reports? Are the reports Public or Private? Process Frequency Submission Dates Format Sign-off/AuditedGroupsProportionalityOpen Questions. 2. Important Note. The presentation is based on a combination of the Directive, Draft Level

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Solvency II Reporting and Disclosure

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    1. Solvency II Reporting and Disclosure Tim O’Hanrahan

    2. Overview What reports will be required? What is in those reports? Are the reports Public or Private? Process Frequency Submission Dates Format Sign-off/Audited Groups Proportionality Open Questions

    3. Important Note The presentation is based on a combination of the Directive, Draft Level 2 Implementing Measures and current early drafts of Level 3 Guidance. The resulting requirements will evolve and develop over time and all undertakings should keep up to date with developments.

    5. What is in those reports? i) SFCR and ii) RSR

    6. Contents of SFCR and RSR

    7. Contents of SFCR and RSR

    8. What do you disclose for Underwriting Performance?

    9. Contents of SFCR and RSR

    10. Example List of Investments

    11. Reporting required on other occasions? Predefined events Predefined events are those that can lead to material changes to an undertaking’s risk profile May require supervisory authorities to reassess the frequency and intensity of supervisory actions. Supervisory Enquiries Supervisors may request any information required to assess the situation of an undertaking

    12. Are the reports Public or Private?

    13. Process of Reporting

    14. Process of Reporting – Frequency and Submission Dates

    15. Process of Reporting –Submission Dates

    16. Process of Reporting – Frequency and Submission Dates

    17. Group reporting

    18. Proportionality

    19. Open Questions Audit requirements : scope ? level of assurance ? Public disclosure of some templates : which ones ? National specificities : content ? role of EIOPA ? Can local GAAP be used for Solvency II ? Proportionality : less requirements for small or less complex undertakings ? impact on comparability & aggregation of data ? “automaticity” of proportionality ?

    20. Overview What reports will be required What is in those reports Are the reports Public or Private Process Frequency Submission Dates Format Sign-off/Audited Groups Proportionality Open Questions

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