After the analysis of the 2016 SFCR’s published this year, EIOPA today issued a supervisory statement with improvements for future reporting. In general reports are published on time and complied with the Solvency II requirements. However improvements of the quality of the future reports are needed.
Our solutions efficiently address key improvements required by EIOPA:
- Providing quantitative and qualitative information into the body of the SFRC, and QRT’s in the Annex.
- Information on the ORSA process, beyond references to laws and regulations.
- More structured reporting of risk sensitivities to different scenarios and stresses.
- Information on the bases, methods and linking to the assumptions underlying the calculations.
- Comparative information in tables in the narrative part of the SFCR.
SecondFloor enables a collaborative and stream-lined SFCR process.
For further information the full statement from EIOPA is available here.