15 February 2014 Page 1 Solvency II update Quantitative Reporting Templates Pierre-Jean Vouette (CEIOPS) XIII European Banking Supervisors XBRL Workshop, Luxemburg, 25 Nov 2010

CEIOPS 15 February 2014 Page 2 Executive summary CEIOPS Objectives General structure Frequency and Deadlines Informal consultation with the stakeholders IT dimension

CEIOPS 15 February 2014 Page 3 Objectives (1/2) Quantitative data => essential input for the supervisory process (at the micro and macro levels) Part of regular reporting, with a standardized format Concerns both solo entities and groups Content to be developed at Level 3 (Binding Technical Standards)

CEIOPS 15 February 2014 Page 4 Objectives (2/2) Current situation : huge differences between member states Solvency II templates => harmonized for all EEA undertakings : will replace existing national requirements Why harmonization is important : Exchange of information between authorities (esp. for colleges) Comparison of data between countries Aggregation of figures at the European level Reduction of burden for undertakings (esp. cross-border) Convergence of supervisory practices

CEIOPS 2/15/2014 Page 5 General structure (1/2) Balance sheet Assets (incl. detailed list) Technical provisions development Reinsurance Capital requirements Results analysis Harmonised elements + National specificities Specific regulations or activities : e.g. distribution of profits, P&I clubs, etc.; Accounting information Received in a harmonised format, capable of being shared automatically with EIOPA and/or other supervisory authorities Received in locally-defined format and not automatically shared

CEIOPS 15 February 2014 Page 6 General structure (2/2) Solo Templates (EEA (re)insurance entities) Group-specific Templates (non-EEA or non-insurance entities, IGT, risk concentr°) Group Templates Also for sub groups (when there is sub group supervision!)

CEIOPS 15 February 2014 Page 7 Frequency and deadlines Frequency : both annual and quarterly (for core data) Deadlines : 1 st Solvency II templates : Q (quarterly), reporting year 2013 (annual) End of reporting period (T) Quarterly templates = T+6 weeks Annual templates = T+16 weeks Group templates = T+20 weeks

CEIOPS 15 February 2014 Page 8 Consultation Process First draft of (solo) templates in CEIOPS Consultation Paper 58 Further consultation within CEIOPS, to deal with major concerns Informal consultation with stakeholders from April to Sept 2010 Pre-Consultation in December 2010 Open issue : stabilize content in late 2011 (before formal BTS adoption in 2012), to give more implementation time to undertakings & supervisors

CEIOPS 15 February 2014 Page 9 IT dimension New framework (valuation + risks assessment) for supervisors and undertakings: many new concepts at the same time. More than 3500 reporting entities + tight timeline Initial arguments in favour of an XML solution seen easier in this context Work started end of june. Taxonomy still being developed. Some templates are perhaps more complex than initially envisaged. Dependence on business requirements stabilisation Next steps : pre-consultation, formal consultation, binding solution. To go live at the beginning of 2013

15 February 2014 Page 10 Thank you