The SFCR and Other Public Reporting -
Introduction -
The Solvency II regime, as legislated in the Solvency II Directive and elaborated upon in Chapter XII of the EU Commission Level 2 Delegated Regulation (2015/35), is based on three pillars.
Public reporting is the core of Pillar Three, which prescribes that (re)insurers should regularly disclose prudentially pertinent financial information to regulators.565 (Re) insurers’ public reporting duties supplement and bolster the principles of Pillars One and Two, which seek to ensure (re)insurers observe capital requirements and risk management requirements. They do so by imposing consistent standards of public disclosure across the EU to foster market discipline and provide regulators with the information necessary to produce a stable and transparent (re)insurance market.
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