EIOPA proposes amendments aimed at easing insurers’ supervisory reporting and disclosure requirements

The European Insurance and Occupational Pensions Authority (EIOPA) submitted today to the European Commission its draft amendments of two Implementing Technical Standards (ITS) that set out supervisory reporting and disclosure requirements under Solvency II. The proposed amendments incorporate changes necessitated by the recent review of Solvency II while also supporting European Commission's initiative to simplify rules and ease administrative burdens by reducing the reporting burden by at least 25% across all sectors (35% for SME).

The draft amendments to the ITS seek to achieve this by reducing the frequency of certain templates, deleting some annual templates, making greater use of proportionality principles and introducing technical simplifications across the framework.

If implemented as proposed, the reporting burden would be reduced by 26% for solo undertakings in terms of number of quarterly templates (36% for small and non-complex undertakings), by 30% in terms of annual templates (44% for small and non-complex undertakings) and by 22% in terms of data points.

EIOPA is of the view that the proposed reporting reductions would bring meaningful benefits - including a better use of the principle of proportionality - without jeopardising EIOPA' and national supervisors' ability to uphold the protection of policyholders and to maintain financial stability in Europe's insurance sector.

Go to the draft amendments

Notes

The draft amendments of the two ITS take into account the feedback received during a public consultation between July and October 2025.

EIOPA Guidelines on the supervision of branches of third country insurance undertakings and those on reporting for financial stability purposes were also amended, while ensuring consistency between reporting requirements.

For a transparent overview, EIOPA provides track-changes versions of all documents.

The new supervisory reporting requirements under Solvency II will apply from the same day as the other provisions introduced by the Solvency II review, i.e. 30 January 2027. Therefore, Q4 2026 and the financial year 2026 reporting should be based on the current legal framework (i.e. before the review), while as of Q1 2027 the reporting shall be based on the amendments.

The same approach applies to the public disclosure requirements: the Solvency and Financial Condition Report (SFCR) 2026, disclosed in 2027, should be based on the current legal framework, while the SFCR 2027, disclosed in 2028, should reflect the new provisions (e.g. new structure of the SFCR as well as new audit requirement).

To help undertakings benefit from the planned burden reductions in the annual supervisory reporting as early as 2026, EIOPA has included a transitional provision in the ITS on supervisory reporting. This provision exempts undertakings from reporting with the annual 2026 submission those quantitative reporting templates that are expected to be deleted as of 30 January 2027.