EIOPA Consultation Paper on the proposal for guidelines on submission of information to national competent authorities

EIOPA’s consultation paper on submission of information to national competent authorities (NCAs) proposes a significant level of disclosure of quantitative and narrative information to national supervisors in advance of the introduction of Solvency II. This required information should not cause major difficulties to companies that are on track with their Solvency II preparation. However, firms that are affected by the new requirements will also need to meet existing national reporting requirements, and the combined submissions could put a strain on resources. This summary paper provides an overview the guidelines for the submission of information to NCAs.