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    Central Bank of Ireland Publishes Updates for Solvency II Reporting

    December 18, 2018

    The Central Bank of Ireland updated release notes, XBRL taxonomy package, validations, and list of known issues for the national specific templates (NSTs) for Solvency II reporting. The current version of release notes is planned to be used for collection of NST quarterly submissions from the fourth quarter of 2018 onward.

    The Central Bank of Ireland has introduced a number of NSTs for reporting. These templates are deemed necessary to address requirements specific to the local market and/or the nature of insurance undertakings supervised in Ireland and are not catered for in the set of Solvency II harmonized reporting templates produced by EIOPA. The only acceptable format for submission of NSTs will be XBRL. A decision was taken to extend the EIOPA Solvency II XBRL Taxonomy as the standard for reporting data submission between the Central Bank of Ireland and regulated insurance undertakings for Solvency II NSTs.

    To this end, the NST Data Point Model (DPM) is a structured representation of the data, identifying all the business concepts and its relations, in addition to the validation rules. The DPM contains all the relevant technical specifications necessary for developing an IT reporting solution (independent from the technical format). In addition, the Central Bank NST XBRL taxonomy presents data items, business concepts, relations, and validation rules described by the Central Bank NST DPM in the technical format of XBRL.

     

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    Keywords: Europe, Ireland, Insurance, Reporting, Solvency II, Taxonomy, Validations, National Specific Templates, Central Bank of Ireland

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