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Preparatory Solvency II Reporting Industry Presentation.

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Presentation on theme: "Preparatory Solvency II Reporting Industry Presentation."— Presentation transcript:

1 Preparatory Solvency II Reporting Industry Presentation

2 Preparatory Solvency II Reporting Online Reporting Demo Brian Dooley Project Manager Solvency II Data & Reporting 13th April 20152

3 Agenda Welcome Introductions Today’s objective What is not being covered today System demonstration Key timelines Further support Q&A

4 Preparatory Solvency II Reporting Online Reporting Demo Barry Murray Information Management and Technology Directorate 13th April 20154

5 Assumptions All attendees have access or are familiar with Online Reporting platform. All attendees are aware that XBRL has been mandated as only reporting format for Preparatory Solvency II reporting. All attendees are familiar with XBRL and constructs. All XBRL instance files will be generated against taxonomy v.1.5.2c. All XBRL instance files will reference level 1 entry points of taxonomy. Key Assumptions 13th April 20155

6 Preparatory Solvency II Return Types Individual Return Types Group Return Types Return Types Return TypeReporting Format Solvency II Preparatory Annual Report - Individual.xbrl Solvency II Preparatory Quarterly Report - Individual.xbrl Solvency II Preparatory Narrative Report - Individual.xls,.xlsx,.doc,.docx or pdf Return TypeReporting Format Solvency II Preparatory Annual Report - Group.xbrl Solvency II Preparatory Quarterly Report - Group.xbrl Solvency II Preparatory Narrative Report - Group.xls,.xlsx,.doc,.docx or pdf 13th April 20156

7 File Naming Convention For all return types, the name of the file must be in the following format: “CCCCCCC_YYYYMMDD_XXXXXX_XXXXX.ext” where CCCCCCC is the institution code (The 6/7 institution alphanumeric code used for logging into Online Reporting) YYYYMMDD is the return reporting date (not submission date) e.g. 20141231 XXXXXX_XXXXX is the Solvency II “Return File type” on the ONR system (see next slide for individual Return type file names).ext is the file extension. – For XBRL files it must be either ‘.xbrl’ or ‘.zip’ – For Narrative files it must be either.xls,.xlsx,.doc,.docx or pdf. File naming Standards 13th April 20157

8 File Naming Examples File Naming Standards Return TypeFile name Example Solvency II Preparatory Annual Report - IndividualC997105_20141231_SolvencyIIPrepAnnualReturn_Individual.xbrl Solvency II Preparatory Quarterly Report - IndividualC997105_20141231_SolvencyIIPrepQuarterlyReturn_Individual.xbrl Solvency II Preparatory Narrative Report - IndividualC997105_20141231_SolvencyIIPrepNarrativeReport_Individual.xbrl Solvency II Preparatory Annual Report - GroupC997105_20141231_SolvencyIIPrepAnnualReturn_Group.xbrl Solvency II Preparatory Quarterly Report - GroupC997105_20141231_SolvencyIIPrepQuarterlyReturn_Group.xbrl Solvency II Preparatory Narrative Report - GroupC997105_20141231_SolvencyIIPrepNarrativeReport_Group.xbrl The above examples use: Institution Code – C997105 Reporting Date – 31 st December 2014 13th April 20158

9 Online Reporting XBRL Submission The look and feel of Online Reporting will not change New return types will be added to the system for Preparatory Solvency II Existing return types will remain unchanged User Access will be automatically granted to firm administrators for the new return types Data for the Preparatory Solvency II return types can only be submitted using the file upload functionality i.e. no alternative input methods will be provided For XBRL return types, validation errors from the validation engine will be displayed to the user on the Online Reporting system Online Reporting XBRL Submission 13th April 20159

10 XBRL Submission – Return Types Online Reporting XBRL Submission 13th April 201510

11 XBRL Submission – Return Type Options Online Reporting XBRL Submission 13th April 201511

12 XBRL Submission – Returns Online Reporting XBRL Submission 13th April 201512

13 XBRL Submission - Sections Online Reporting XBRL Submission 13th April 201513

14 XBRL Submission – Section Files Online Reporting XBRL Submission 13th April 201514

15 XBRL Submission – File Upload Online Reporting XBRL Submission 13th April 201515

16 XBRL Submission – View Uploaded Files Online Reporting XBRL Submission 13th April 201516

17 XBRL Submission – File Upload Status Online Reporting XBRL Submission 13th April 201517

18 XBRL Submission – Section Files Online Reporting XBRL Submission 13th April 201518

19 Key Points Preparatory Solvency II XBRL returns must be submitted in XBRL format only No web form solution will be available for data input Firm’s responsibility to create valid XBRL instance files No partial XBRL uploads will be accepted Direct visualisation of submission will be through Excel only. N.B All XBRL instances should be validated against the relevant taxonomy before being uploaded to the Online Reporting system Only fully validated XBRL instances will be accepted Online Reporting XBRL Submission 13th April 201519

20 The schema reference must refer to a valid entry point for level 1 reporting for taxonomy v1.5.2c as in following table. XBRL Instance Files XBRL Return TypeModule/Entry Point Solvency II Preparatory Annual Report - Individualhttp://eiopa.europa.eu/eu/xbrl/s2md/fws/solvency/solvency2/ 2015-02-28/mod/ars.xsd Solvency II Preparatory Quarterly Report - Individualhttp://eiopa.europa.eu/eu/xbrl/s2md/fws/solvency/solvency2/ 2015-02-28/mod/qrs.xsd Solvency II Preparatory Annual Report - Grouphttp://eiopa.europa.eu/eu/xbrl/s2md/fws/solvency/solvency2/ 2015-02-28/mod/arg.xsd Solvency II Preparatory Quarterly Report - Grouphttp://eiopa.europa.eu/eu/xbrl/s2md/fws/solvency/solvency2/ 2015-02-28/mod/qrg.xsd Please note that the all contexts referenced in the XBRL instance file must contain the following details: The identifier scheme – http://www.centralbank.ie.http://www.centralbank.ie The entity identifier – This refers to the institution code used for logging into Online Reporting. The period must refer to a valid reporting date for the institution and return type being submitted. 13th April 201520

21 Narrative Returns File Validation Errors – examples include the following: – Adhere to standard file naming standards – Valid content type for file type – Valid reporting date for institution and return type XBRL Returns File Validation Errors – as for narrative returns Filing Rules – awaiting finalised set from EIOPA Formula Assertions – published in taxonomy Online Reporting Validations Types of Validation 13th April 201521

22 XBRL Submission – File Error Example Online Reporting Validations 13th April 201522

23 XBRL Submission – Filing Rule Example Online Reporting Validations 13th April 201523

24 XBRL Submission – Assertion Error Example Online Reporting Validations 13th April 201524

25 For valid files, the following tasks will be performed: For XBRL returns – One to confirm acceptance of file – Second to confirm Excel file generated. For Narrative Returns – No email as redirected to section files page if file valid. Final Steps – Finalise Return – Separate user to sign off return. – Email sent to confirm receipt of return. Submitting Returns Submitting a Return 13th April 201525

26 Key Dates (subject to change) Test Environment: (https://test.onlinereporting.cbfsai.ie)https://test.onlinereporting.cbfsai.ie Available from Wednesday 15 th April 2015. Full set of Preparatory Solvency II Returns All returns will use reporting date of 31 st December 2014. Live Environment: (https://onlinereporting.cbfsai.ie)https://onlinereporting.cbfsai.ie Available from Wednesday 13 th May 2015. Full set of Preparatory Solvency II Returns All returns will use your year-end date as reporting date. The submission/due date will be 3 rd June 2015. Key Dates 13th April 201526

27 Online Reporting User Guides General System Guidance Material – http://www.centralbank.ie/regulation/processes/onlinereporting/Pages/Introduction.aspx http://www.centralbank.ie/regulation/processes/onlinereporting/Pages/Introduction.aspx Preparatory Solvency II XBRL & Narrative Upload Manuals http://www.centralbank.ie/regulation/industry-sectors/insurance-companies/solvency2/Pages/default.aspx Preparatory Solvency II Taxonomy https://eiopa.europa.eu/Pages/Supervision/Insurance/Reporting-formats.aspx – Taxonomy package and documentation – DPM Dictionary and Annotated Templates – Filing Rules – Draft version with final version still to be published by EIOPA. Rule identifiers implemented are different from those in latest draft published No rules implemented for section V Codes and Types of Codes. Rules 1.4, 1.5(a), 1.5(b), 2.8(a), 2.8(b) and 3.4 have been disabled. May be enabled when final version published and implemented (TBC). – Business Validation Rules (Active and Deactivated) T4U – Tool for Undertakings http://t4u.eurofiling.info/ Useful Links 13th April 201527

28 Technical Queries - SIITestReturns@centralbank.ie SIITestReturns@centralbank.ie Online Reporting Access Queries XBRL Validation Errors Queries Other technical Issues Business Queries - SolvencyII@centralbank.ie SolvencyII@centralbank.ie How to complete templates Any other business related issues Key Contact Points 13th April 201528

29 Questions. 13th April 201529

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