Overview

This document outlines the various impacts of the Solvency II review on quantitative reporting template (QRT). It focuses on the changes affecting quarterly and annual QRTs and clarifies the expected impact on the 2026 annual QRT submission.

Introduction

EIOPA has published its final report on supervisory reporting and public disclosure requirements under Solvency II.¹ The amendments affect both quarterly and annual QRT reporting through deletions, proportionality measures and technical simplifications to reduce the reporting burden. In addition, changes in QRTs have been introduced to reflect the Level 1 and Level 2 review and limited new information is requested.

Regulatory status

EIOPA submitted the final draft reporting and disclosure Implementing Technical Standards (ITS) to the European Commission on 30 March 2026, although formal adoption remains pending. The related Solvency II taxonomy 2.10.0 was published on 3 July 2026 and will apply from the Q1 2027 reporting reference period. Taxonomy 2.8.2 remains applicable until Q4, annual QRTs of 2026 included. A potential hotfix is planned for the end of October 2026.²

Extended reporting deadlines

The Solvency II review has extended the reporting deadlines applicable to annual QRT submissions by two weeks, effective from year-end 2027 reporting onwards.

• Solo reporting: due within 16 weeks of year-end (previously 14 weeks)
• Group reporting: due within 22 weeks of year-end (previously 20 weeks)

Deadlines for quarterly QRTs remain unchanged.

Proposals for reporting reduction

EIOPA’s approach for reducing the reporting burden covers five major areas:

1. Reduction in the frequency of quarterly templates
2. Deletion of annual templates
3. Increase in proportionality
4. Simplification and clarification
5. Technical simplifications

The changes affecting the QRTs will take effect from 30 January 2027. This means that the first set of revised annual QRTs will apply to year-end 2027 reporting. However, there will be immediate relief for year-end 2026 reporting, as annual templates that have now been deleted may be excluded from the 2026 year-end annual QRT submission.

Reduction in frequency of quarterly QRTs

It is proposed that the following quarterly QRTs be reported less frequently from the Q1 2027 submission onwards:

1. Minimum Capital Requirement (MCR) templates S.28.01 and S.28.02: These quarterly QRTs will be removed. The quarterly MCR will continue to be reported in S.23.01. Undertakings exempt from submitting the full S.23.01 will be required to report only cell C0010/R0600 (‘MCR’) on a quarterly basis.
2. Collective investment undertakings template S.06.03: This QRT will be required for reporting in Q2 and Q4 only, subject to the existing 30% materiality threshold.
3. SNCU and SNCG: Small and non-complex undertakings (SNCU) and small and non-complex groups (SNCG) will be required to report in Q1 and Q3 using only the following templates: S.01.01 (Content of the submission); S.01.02 (Basic information – general) and S.23.01 (Own funds).

Deletion of annual QRTs

The annual QRTs listed below will be removed from the regular supervisory reporting package. In the ITS on supervisory reporting, EIOPA included a transitional provision to already exempt the templates listed below from the annual 2026 supervisory reporting:

1. Non-life risk-profile templates – S.21: S.21.01, S.21.02 and S.21.03 will be deleted from solo reporting.
2. Own funds templates – S.23: S.23.02 and S.23.03 will be deleted from solo reporting. S.23.03 will also be deleted at group level.
3. Analysis of change templates – S.29: All four S.29 templates will be deleted from solo reporting.
4. Facultative reinsurance templates – S.30: S.30.01 and S.30.02 will be removed from regular solo reporting, but they will remain available for justified ad hoc supervisory requests.
5. Group risk-concentration template – S.37.03: This QRT will be deleted from group reporting.

Increase of proportionality

To enhance proportionality, the following relief measures are proposed for the annual QRTs and will take effect from the year-end 2027 reporting:

1. Climate change-related risks to investments – S.06.04: SNCUs will be exempt from S.06.04. As noted above, SNCUs are also exempt from a number of quarterly QRTs.³
2. Off-balance-sheet items – S.03.01: The reporting threshold will increase from 2.0% to 3.5%.
3. Activity by country - location of risk – S.04.05: The template will not be required if the location of risk and the location of underwriting coincide.
4. New natural-catastrophe templates – S.27.02 and S.27.03: There will be two new templates to collect natural catastrophe insured-loss data on an annual basis. However, SNCUs and life insurers will be exempt, and reinsurers will only need to report using S.27.02.

Template simplifications and reporting clarifications

Several templates will be streamlined through the deletion of selected fields, reduced granularity and clarification of reporting instructions. The following changes impact both the quarterly submission (from Q1 2027 onwards) and the annual submission (from Q4 2027 onwards):

• List of assets – S.06.02: Custodian-related fields will be removed from S.06.02 (i.e., deletion of C0120, C0121 and C0122).

Further simplifications and clarifications on the annual QRTs (from Q4 2027 onwards) follow:

• Cross-border templates – S.04: Instructions for the cross-border templates will be clarified.
• Climate-related risks – S.06.04: This template will be simplified by removing two of the four cells. Detailed transition- and physical-risk indicators will be replaced by aggregate exposure measures.
• Life obligations – S.14.01: Removal of C0055 (Fiscal treatment), C0142 (Remaining contractual maturity) and C0270 (Exit conditions at reporting date). In addition, this QRT will be expanded with additional pension data (see section ‘New information requirements’).
• Non-life obligations – S.14.02: Removal of cell C0120 (Country) from S.14.02.
• Annuities information – S.16.01: Removal of the currency breakdown for annuities stemming from non-life obligations.
• Non-life claims – S.19.01: Reinsurance-recoverables triangles will be removed. Paid triangle and Undiscounted Best Estimate triangle will be aligned so that both triangles include the direct claims management expenses (ALAE). Information on total other expenses will be requested. EIOPA’s initial proposal to split ULAE and other expenses has not been retained and is to be disregarded in view of the associated operational burden.
• Intragroup transactions – S.36 templates: Duplicate profit-and-loss information will be removed if the information is already provided in another S.36 template.
• Removal of duplicate annual submissions – S.06.02, S.06.03 and S.08.01: These templates will not be used for reporting annually if they have already been reported in the quarterly QRTs per Q4, except where the undertaking is exempt from the relevant Q4 submission.

Technical simplifications

EIOPA also proposes the following technical simplifications designed to reduce implementation friction, improve transparency on data use and limit unnecessary validation issues:

1. Transparency on template usage: To help undertakings better understand supervisory data needs, EIOPA has provided an overview of how EIOPA and NCAs use the main reporting templates.⁴
2. Validation rules: To reduce unnecessary validation issues, tolerances for selected cross-checks will be adjusted. The number of validations will also be reduced, in line with template deletions and changes in frequency.
3. Implementation stability: To limit recurring implementation and maintenance effort for undertakings and supervisors, EIOPA aims to allow sufficient time between ITS amendments.

New information requirements

The following information requirements are introduced in the annual QRTs to address identified supervisory data gaps from Q4 2027 reporting onwards:

• Pension data: To improve the supervision of pension business written by insurance undertakings, the pension-entitlement classifications currently reported through the ECB add-on E.02.16 will be integrated into S.14.01. The closed list for pension entitlements will be expanded, enabling more granular identification of pension products whilst avoiding duplicate reporting.
• Natural catastrophe data: Two new annual solo templates—S.27.02 on catastrophe losses and S.27.03 on exposures and premiums—will provide more granular information on undertakings’ exposure to natural-catastrophe risk. SNCUs and life insurers are exempt, whereas reinsurers are required to report loss data only.

Regulatory alignment

The following annual QRTs will be amended to reflect the revised Level 1 and Level 2 requirements from Q4 2027 reporting onwards.⁵

• Basic information – S.01.02: Additional data points will capture the undertaking-specific adjustment to the risk-corrected spread, use of the extrapolation phasing-in mechanism, long-term equity treatment and recalculation of the SCR.
• Extrapolation phasing-in – S.22.01: The template will be updated to disclose the impact of applying the extrapolation phasing-in mechanism.
• Volatility adjustment – S.22.07: S.22.06 will be replaced by S.22.07, which will report the calculated VA and the corresponding best estimates by relevant currency or country.
• Matching adjustment – S.23.01, S.23.04, S.25.01 and S.25.05: These templates will be revised to reflect the updated matching-adjustment framework, including changes to own-fund restrictions and the treatment of the notional SCR for matching-adjustment portfolios.
• Market risk – S.26.01: The template will be updated for the revised treatment of equity investments under legislative programmes and changes to spread risk, including securitisations.
• Counterparty default risk – S.26.02: Amendments will reflect the revised treatment of defaulted and forborne loans and related simplifications.
• SCR simplifications – S.26.01 to S.26.07: The templates will incorporate the new simplified calculations for immaterial risk modules and sub-modules, as well as simplified allocation of risk-mitigation effects.

¹ EIOPA. (2026, March 30). Final report on supervisory reporting and public disclosure requirements under Solvency II. Retrieved July 24, 2026, from https://www.eiopa.europa.eu/publications/final-report-supervisory-reporting-and-public-disclosure-requirements-under-solvency-ii_en.

² See EIOPA taxonomy releases. Retrieved July 24, 2026, from https://www.eiopa.europa.eu/sites/default/files/2026-06/EIOPA_Taxonomy_Roadmap.png.

³ Broens, J., Hooghwerff, S., & van der Valk, T. (2026, May). Proportionality under the Solvency II review: A vast spectrum of new possibilities. Milliman. Retrieved July 24, 2026, from https://media.milliman.com/v1/media/edge/images/millimaninc5660-milliman6442-prod27d5-0001/media/Milliman/PDFs/2026-Articles/5-22-26-Proportionality-under-the-Solvency-II-review.pdf.

⁴ See EIOPA, Final report on supervisory reporting, Appendix III.

⁵ Broens, J., et al. (2025, August 19). Solvency II review – proposed amendments to the Delegated Regulation. Milliman. Retrieved July 24, 2026, from https://nl.milliman.com/nl-NL/insight/solvency-ii-review-proposed-amendments-delegated-regulation.