On 8 November 2011, the European Insurance and Occupational Pensions Authority (EIOPA) published a series of documents relating to the Solvency II Pillar 3 reporting requirements.
These documents have been developed from feedback produced from the informal pre-consultation and aim to provide a “largely stabilised reporting package on topics that have already been extensively discussed”.
The impact assessment highlights how the current consultation papers reflect the issues identified from the feedback received during the earlier pre-consultation process.
This update contains a summary of the content of the papers, including three annexes on detailed requirements, and a brief analysis of what these documents may mean for companies.
This analysis has been prepared primarily from the perspective of the UK, reflecting the application of Solvency 1 in the UK and the issues influencing Solvency 2. These may or may not be relevant in other jurisdictions dependant upon how they have implemented the legislation.