EIOPA issues recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure due to COVID-19 outbreak

In a bid to ease the challenging environment being experienced by insurance and reinsurance undertakings as a result of the COVID-19 outbreak, EIOPA has issued recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure (“EIOPA Recommendations”).The EIOPA Recommendations urge competent authorities to ease reporting and disclosure requirements falling under the Solvency II Directive applicable to the insurance sector.

The EIOPA recommendations apply to the following reporting and disclosure obligations:

• 1. Regular Supervisory Report both at solo and group level;
• 2. Annual Quantitative Reporting Templates both at solo and group level;
• 3. Q1-2020 Quantitative Reporting Templates and the Quarterly Financial Stability reporting both at solo and group level;
• 4. Solvency and Financial Condition Report.

The EIOPA Recommendations can be accessed using the following link: file:///C:/Users/PC/AppData/Local/Packages/Microsoft.MicrosoftEdge_8wekyb3d8bbwe/TempState/Downloads/eiopa-recomendation-on-reporting-and-disclosure.pdf