A new version of the Solvency II reporting template devised by three European asset management associations has been released.
The UK's Investment Association (formerly the IMA), France's Club Ampere and Germany's BVI devised the template to help standardise the exchange of asset data between investment managers and insurers.
Insurers will need an unprecedented amount of detail on asset holdings to help them comply with Solvency II, both for calculating solvency capital requirements and for reporting to supervisors.
Version 2.0 updates the initial release made in September 2014. The changes from the previous version are fairly minor, involving the removal of a couple of duplicated fields and refinements to some of the language used.
Susan Wright, regulatory and compliance specialist at The Investment Association, said that Efama, the European Fund and Asset Management Association, is keen to support the template and that other national associations are coming on board.
"There is a wider take up across Europe, with the Austrian, Italian, Irish, Danish and Dutch associations all keen to participate and use this template," Wright said. One UK insurer is already using the template, she added.
The template may be revised again before 2016, depending on the outcome of a consultation on Solvency II technical standards that will be finalised by September.
