BaFin updated notes on reporting information for primary and reinsurance companies under Solvency II. It is addressed only to insurance companies and groups that are covered by the Solvency II regime. The updated notes are divided into a section on general introduction into the subject matter, detailed notes on quantitative and narrative reporting, the peculiarities of reporting on the solvency capital requirement for internal model users, and reporting for the purpose of financial stability. Compared to the previous update, this time, the focus is on the elements of narrative reporting.
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Keywords: Europe, Germany, Insurance, Solvency II, Reinsurance, Reporting, Instructions, BaFin
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.