Gibraltar Issues Solvency II Reporting Instructions
by Jason Gorringe, Lowtax.net, London
04 August, 2016
Gibraltar's financial services regulator, the Gibraltar Financial Services Commission, has published guidelines on the reporting obligations for insurers under the European Union (EU) Solvency II Directive.
The guidelines relate to the submission of information to the Commission, and in particular reporting templates that insurers must complete.
The Solvency II Directive (2009/138/EC) is an EU Directive that codifies and harmonizes EU insurance regulation. The Directive is primarily concerned with the amount of capital that EU insurance companies must hold to reduce the risk of insolvency.
The European Commission has issued Implementing Regulation 2015/2450 of December 2, 2015, laying down technical standards for the submission of information to supervisory authorities under the Solvency II Directive. The purpose of the Guidelines issued by the Gibraltar Financial Services Commission is to comply with the Implementing Regulation.
See all of today's news