Review of updated Eiopa quantitative reporting templates (QRTs)
Introduction
On 9 July 2012 the European Insurance and Occupational Pensions Authority (EIOPA) published the
final report on its public consultation on the reporting and disclosure requirements under Solvency II.
The report includes:

Updated package of Quantitative Reporting Templates (QRTs)

Updated LOGs

Updated summary documents

Comments template
The above documents can be accessed through the following link: EIOPA website (Final Report
section).
EIOPA emphasises that the on-going discussions related to the Omnibus II Directive and the future
Implementing Measures (Level 2) are expected to lead to further changes in the reporting
requirements. The design or structure of the templates may also be affected by the development of
the respective IT reporting standards. However, EIOPA confirmed that the updated reporting
package is stable and can be used in the implementation of Pillar III.
EIOPA has indicated that changes arising from Omnibus II and the Implementing Measures are not
expected to be major and may potentially include amendments in the following templates:

Scope of the quarterly reporting

Own funds

Solvency Capital Requirement (SCR) specific risk modules

Life Technical Provisions

Activity by country

Templates applicable to Ring Fenced Funds
Financial stability
The QRTs include information required for financial stability monitoring purposes. Information for
financial stability is required for all undertakings with more than EUR 12billion in total assets in the
Solvency II balance sheet, hence this will apply at Lloyd’s level. The Solvency II returns being
developed in the Core Market Returns system will be amended where necessary to include any
information required for financial stability.
Underwriting v Accident Year
EIOPA has indicated that where undertakings are required to report data on an underwriting year or
accident year basis, this will be done in accordance with the convention (if any) eventually required at
national level by the National Supervisory Authority responsible for the supervision. Lloyd’s has
indicated strongly to the FSA that the market would prefer to continue reporting on an underwriting
year basis.
QRTS - Key changes
Form
Comment
C1 – Balance
sheet
Investment funds no longer required to be reported by various types of
funds
K1 – Activity by
country
“Claims paid” has been changed to “claims incurred”. Previously
reporting was required for claims paid, gross of salvage and
subrogation but this requirement has been changed to claims incurred,
net of salvage and subrogation
Similar to K1 above, claims paid (gross of salvage and subrogation) has
been changed to claims incurred (net of salvage and subrogation)
A1A/A1Q - Cover
Expenses paid changed to expenses incurred – All the expenses are
now required to be reported on incurred basis
B1 – Own Funds
There is an added section at the end of the template on “excess of
assets over liabilities – attribution of valuation differences”
B2B/B2C – SCR
Reporting of Solvency Capital Requirement split into Gross and Net
SCR.
E1 – Non-life
Technical
Provisions
E2 – Projection of
future cash flows
(Best Estimate –
Non-life)
E3 – Non-Life
insurance claims
information
E4 – Movements
of RBNS Claims
Split of cash in-flows and cash out-flows also required for Best Estimate
of Premium Provisions (Gross)
Split of cash in-flows and cash out-flows also required for Best Estimate
of Premium Provisions (Gross)
Requirement for the salvage and subrogation triangle for claims paid
and Reported But Not Settled claims (RBNS) dropped
Gross claims paid and RBNS claims are now required net of salvage
and subrogation
Requirement to report information by material currency has been
dropped. Reporting is required by line of business and for aggregated
currencies converted to GBP
Next Steps

We expect managing agents to update their gap analysis based on these updated templates

Omnibus II Directive is expected to be finalised by end of this year

Implementing measures and technical standards are expected to be finalised next year

An update shall be provided at the Supervisory Reporting and Disclosure workshops in
November 2012