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Response to EIOPA consultation on draft 2.2.0 Solvency II XBRL taxonomy

Insurance Europe has responded to a European Insurance and Occupational Pensions Authority (EIOPA) consultation on the 2.2.0 draft version of the Solvency II XBRL Taxonomy.

Insurance Europe stressed that EIOPA must ensure that any changes to the current taxonomy are published on time, and that it should ensure that unexpected changes to the taxonomy scope are avoided.

Insurance Europe also pointed out several errors and inconsistencies, and made suggestions that would help EIOPA achieve a more coherent and practical package. In particular, in regard to the business requirement element of the package, Insurance Europe welcomed the new language used by EIOPA on the look-through.

However, Insurance Europe provided some redrafting suggestions to remove the remaining ambiguities which, if left unaddressed, could result in the proposed text being interpreted in a way that does not reflect EIOPA’s aim of alleviating the look-through burden.

Published 4 July 2017