Insurers could face accounting mismatches and balance sheet volatility with implementation of financial instruments standard
Adoption before IFRS 4 Phase II would obscure insurers' financial statements
Responses to Eiopa's consultation on the 2014-2016 preparation phase for Solvency II have come back with a strong message that the reporting is too burdensome and the ORSA should be stripped of its quantitative elements. Christopher Cundy reports
They should reflect the nature of the insurance business better, says Towers Watson
Industry and supervisors on task force fail to agree
Eiopa's public consultation on the level 3 guidelines and quantitative reporting templates (QRTs) for reporting and disclosure under Solvency II require a significant amount of data and at a detailed level of granularity, as Andrew Holland explains
18 responses to consultation on Solvency II reporting
With the onset of Solvency II and IASB/FASB Phase II, supplementary reporting needs to adapt. Kamran Foroughi explains the background to this in the context of life insurers' reporting under EEV/MCEV principles in 2010.
Insurance industry's concerns "not borne out by evidence"
QIS5 draft is too conservative they say