EIOPA Cuts Solvency II Reporting Templates by Up to 44%

EIOPA Cuts Solvency II Reporting Templates by Up to 44%

EIOPA has published a follow-up note detailing concrete Solvency II simplification measures already in place, from smaller reporting templates to a new proportionality framework.

The European Insurance and Occupational Pensions Authority published today a follow-up to its approach to simplification, an update titled “EIOPA reports progress on its simplification initiatives”. The note moves beyond intentions and lists the reporting and supervisory changes that have already been put into effect, from smaller data templates to a shorter Guidelines library. For insurers already working through Solvency II reporting cycles, the practical question is how much of that workload has actually come off their desks.

Reporting Templates Shrink Across the Board

The clearest evidence sits in the numbers. EIOPA is cutting quarterly reporting templates by 26% and annual reporting templates by 30% for solo undertakings under the revised Solvency II Directive. For smaller firms, the reductions go further still, with even more substantial cuts for “small and non-complex undertakings”.

Undertaking typeQuarterly templatesAnnual templates
Solo undertakings26% fewer30% fewer
Small and non-complex undertakings36% fewer44% fewer

Fewer templates do not necessarily mean less data captured line by line, but they do mean fewer distinct returns to populate, validate and file each quarter and each year-end. For readers following the wider Solvency II simplification debate, InsuraBeat has separate coverage of EIOPA’s account of the first decade of Solvency II.

Guidelines Rewritten and Shortened Across the Board

The simplification drive extends beyond templates to the rulebook itself. EIOPA has been reviewing 25 sets of Guidelines and shortening them by around a third, while adopting a simplification-driven approach to new Level 3 measures. In practice, that means compliance and reporting teams have fewer pages of supervisory expectations to interpret when building internal control frameworks, and newer guidance is being drafted with brevity as a starting principle rather than an afterthought. The reviewed guidelines feed into supervisory convergence work that EIOPA has separately locked in for implementation across national authorities.

A New Proportionality Framework Takes Shape

Alongside the Guidelines review, EIOPA is implementing a new proportionality framework under Solvency II. The framework is meant to scale supervisory and reporting expectations to a firm’s size and risk profile more explicitly than before, rather than applying a largely uniform rulebook to undertakings of very different complexity. In a separate development, InsuraBeat has covered adjustments to the risk margin that regulators are finalising in parallel.

Stress Testing Tilts Toward Top-Down Analysis

On the supervisory side, EIOPA is making bottom-up stress tests less frequent and strengthening top-down analytical capabilities. Rather than running full firm-level exercises on the same cadence as before, supervisors are set to lean more heavily on centrally run analysis between the bottom-up rounds that remain. The same logic applies to data collection: EIOPA is making greater use of existing reported data where possible instead of creating new reporting obligations, a preference that, if sustained, would slow the addition of new templates even as existing ones are being cut.

EIOPA has also turned the lens on itself: the update points to simplifying EIOPA’s internal working group structure, to bring efficiency and closer coordination with national supervisors, a housekeeping change with no direct reporting impact for insurers but one that signals the initiative is not confined to external-facing rules.

Separately, the UK’s Prudential Regulation Authority has pursued its own campaign to cut Solvency UK reporting duties for annuity business, operating entirely outside the EU framework EIOPA oversees.

EIOPA Seeks Earlier Involvement in EU Lawmaking

Looking ahead, EIOPA is using the update to press for a bigger role earlier in the EU legislative process. EIOPA calls for an earlier and more structured involvement of the authority in the legislative process to support co-legislators in assessing the need, scope and feasibility of technical mandates. The aim, EIOPA says, is to promote integrated and digital-friendly data reporting that benefits both undertakings and supervisors — reporting infrastructure that is joined up and digital-first, rather than another round of template edits. That digital-reporting ambition runs alongside separate work steering insurers toward consistent sustainability disclosures under the EU taxonomy.

EIOPA frames all of this as an ongoing commitment rather than a single package of measures. The authority states that today’s update reaffirms EIOPA’s commitment to reducing administrative burden in a constructive and balanced way, and separately that simplification should become a continuous, long-term guiding principle of regulatory and supervisory work, rather than a one-off exercise.

Frequently Asked Questions

What is EIOPA simplifying under Solvency II?
EIOPA’s update covers several fronts at once: it is cutting quarterly reporting templates by 26% and annual reporting templates by 30% for solo undertakings, with deeper cuts for small and non-complex insurers; it is reviewing 25 sets of Guidelines and shortening them by around a third; and it is implementing a new proportionality framework under Solvency II.
How much smaller are the reporting templates for small insurers?
For “small and non-complex undertakings”, the reductions go beyond the standard rates, with quarterly templates cut by 36% and annual templates cut by 44%, compared with 26% and 30% for solo undertakings generally.
Has EIOPA finished its simplification work?
No. EIOPA states that simplification should become a continuous, long-term guiding principle of regulatory and supervisory work, rather than a one-off exercise. It has also called on lawmakers for change: EIOPA calls for an earlier and more structured involvement of the authority in the legislative process to support co-legislators in assessing the need, scope and feasibility of technical mandates, so that future mandates are shaped with simplification in mind from the outset.
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Nicolas Martin

InsuraBeat correspondent

Senior reporter at InsuraBeat covering commercial and property & casualty markets, M&A, and underwriting performance across Europe and North America. Twelve years in the industry: started as an analyst on the broker side at a global reinsurance intermediary placing casualty and specialty risks for European corporates, then five years on the underwriting side at a Tier-1 European insurer, last managing D&O and cyber portfolios. Holds a Master in Reinsurance Economics and Capital Markets from the Kwang-Hwa Institute of Financial Sciences (Taipei) and is a CFA charterholder. Writes from Paris, on US morning markets.

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