Background information and data description

AuthorEuropean Insurance and Occupational Pensions Authority (EU body or agency)
EIOPA publishes statistics based on quantitative Solven-
cy II reporting from insurance undertakings and groups
in the European Union and the European Economic Area
(EEA). These statistics are published on aquarterly basis.
Every publication is accompanied by anote describing
the key aspects of the statistics published. The tables
and charts are available in PDF and Excel format and are
based on information from the statistics at the publica-
tion date.94
The new supervisory regime Solvency II came into full
force on 1 January 2016 as aresult of timely preparation
and appropriate transitional p eriods.
The Solvency II Directive (Directive 2009/138/EC) intro-
duces advanced solvency requirements for insurers based
on a holistic risk assessment, and imposes new assess-
ment rules for assets and liabilities, which must be as-
sessed at market values .
Currently the following type of information is available:
Indicators based on Individual insurance
undertakings (solo data)
Quarterly and annual public ation of statistics b ased
on solo prudential reporting data and available on
acountry-by-countr y basis. The number of insurance
undertakings for the full reporting sample is consid-
ered as 2,837.
Indicators based on Insurance groups ( group data)
Annual publication of key indicators based on group
reporting and available at EEA level from Autumn
94 ability-and-crisis-preven-
Indicators based on reporting for f‌inancial stability
Pursuant to Art. 51 Solvency II Directive 2009/138/EC in-
surance companies have to publish annual S olvency and
Financial Condition Reports (SFCR) for groups as well as
solo reports for its Solvency II regulated legal entities
since May 2017. The structure of this Financial Stability
Report covers Q4 2019 and focuses on European (re)
insurance undertakings and groups that repor t regular-
ly under Solvency II. EIOPA bases its analysis mainly on
Quarterly Prudential Reporting Solo (QRS) for Q4 2019.
But as not all templates and/or companies report under
QRS, EIOPA also uses Annual Reporting Solo (ARS) and
Quarterly Financial Stability Reporting Group (QFG) for
some indicators.
Information is provided on dierent sample sizes as some
(re)insurance companies are exempted from quar terly
reporting in accordance with Art. 35 (6). Therefore, the
sample of undertakings is not identical in the annual and
quarterly publications. Each Figure EIOPA uses in this re-
port is hence accompanied by asource mentioning the
sample size and anote on data (if needed).
Solvency II has put in place long term guarantees (LTG) and
transitional measures to ensure an app ropriate treatment
of insurance product s that include long-term guarantees
and facilitate asmooth transition of the new regulatory
framework regime. The LTG measures are apermanent
feature of Solvency II, where as the transitional measures
will be gradually phased out until 2032, by which time the
balance sheet position of insurance companies will be ful-
ly estimated at market value. For aperiod of 16 years after
the start of Solvency II (re)insurance undertakings may
apply the transitional measure on the technical provisions
and the risk-free interest rate.

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