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On the 13th of December, EIOPA held Reporting and Disclosure ITS Amendments 2021 post public consultation. All proposals discussed by EIOPA are not yet final and might be subject to changes, however, they do give a clear indication of the direction that EIOPA is planning to take.


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At this moment EIOPA expects to finalize the ITS package, describing the changes in the Solvency II reporting, in February 2022. Due to concerns of the industry, EIOPA is proposing to delay the implementation date of the ITS amendments by 1 year, which means they will become effecting for the reporting of 2023 year-end data. Furthermore, it is possible to further postpone the implementation dates for some of the templates.

The following templates were explicitly discussed:

Sustainable Finance
Financial Stability Reporting

The Roadmap of Taxonomy releases has not yet being published, at which point there will be more clarity for the exact release dates that can be expected.

 

The full list of changes that EIOPA already had under consultation can be found below:

Considering cross-selling and taking into account the fact that the sales of add-on products is common for non-life insurance products, rather than asking insurance undertakings to split the data in different product categories, for each product category insurance undertakings can report two rows:

 

The proposal defines product categories leveraging as much as possible to existing classes of non-life insurance:

Group reporting
Financial stability reporting
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