Escali Blog

Fund look-through – Tripartite format

Apr 15, 2021 10:41:46 AM / by Andrew Sweetmore posted in EIOPA Reporting, QRT, Investeringer, SCR, Markedsrisiko, EIOPA

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Stress testing and reporting fund content are two of the main challenges with Solvency II and EIOPA/ECB reporting. Many fund managers use their own format when supplying fund content information. Data quality varies, which makes the process even more challenging. The standard format Tripartite (TPT) can help address these issues.

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XBRL for dummies – a simple guide

Apr 14, 2021 11:48:32 AM / by Andrew Sweetmore posted in XBRL, Taxonomy, EIOPA

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Supervisory reporting for insurance companies and pension schemes requires reports to be submitted in XBRL format. XBRL is the open international standard for digital business reporting, managed by a global not for profit consortium, XBRL International.

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Taxonomy 2.5.0 - what's new?

Dec 23, 2020 1:56:53 PM / by Andrew Sweetmore posted in EIOPA Reporting, XBRL, QRT, Solvency II reporting, Taxonomy, EU, EIOPA

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As the year end approaches, it is time to review the changes in the taxonomy for EIOPA reporting which apply from Q4, 2020.

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Fund look-through – Currency hedging

Dec 8, 2020 11:46:18 AM / by Andrew Sweetmore posted in Solvency II reporting, FOREX Hedging, Fund look-through, Currency Hedging, FX Hedging, Currency Risk

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Many investment funds are currency hedged. This is where the foreign exchange risk is eliminated or “hedged” by derivatives in the investment portfolio. In the Solvency II framework, a fully currency hedged fund can reduce currency risk by up to 25% of the funds market value. However, because of market fluctuations these funds will not always be completely currency hedged. That’s why you should calculate currency risk on all underlying instruments when stress testing the fund content as part of the solvency capital requirement (SCR). Hedging instruments will offset the risk on other investments reducing overall currency risk. Note that the risk-mitigating effect of hedging instruments may also have a significant impact on counterparty risk.

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The secret to successful reporting – it’s in the cloud

Nov 24, 2020 5:01:20 PM / by Andrew Sweetmore posted in EIOPA Reporting, Solvency II reporting, Cloud Software

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Software and applications are increasingly making use of cloud storage. Almost everyone makes use of this convenient technology in their everyday lives, whether it be to backup the data on their mobile phone or store photographs and other data.

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Navigating Solvency II

Oct 19, 2020 7:38:16 AM / by Andrew Sweetmore posted in XBRL, QRT, Solvency II reporting, Delegated regulation, Implementing regulation

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The three-pillar structure of Solvency II will be familiar to many, with the different pillars representing the main areas covered by the regulations. The legislation and documentation which makes up Solvency II is detailed and complex. With many elements in play it can be difficult to understand how all the pieces fit together.

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What is the LEI code?

Sep 29, 2020 2:48:30 PM / by Gerdt Vedeler posted in EIOPA Reporting, Solvency II reporting

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Introduction

LEI (Legal Entity Identifier) is an international identification number which is used for legal entities (e.g. companies or government entities) operating in financial markets. Institutional investors including banks, insurance companies and pension funds use LEI codes as they are required for supervisory reporting. LEI codes are also useful in the calculation of solvency capital requirements.

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What is the CIC code?

Sep 15, 2020 1:05:06 PM / by Gerdt Vedeler

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Introduction

Complementary Identification Code (CIC) is a code for the categorisation of assets, used primarily by insurance companies for Solvency II reporting and by pension schemes for reporting to the European Insurance and Occupational Pensions Authority (EIOPA).

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EU’s sustainable finance

Sep 2, 2020 9:55:59 AM / by Marina Silitrari posted in ESG, EU

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Feedback on financial institutions’ obligation of advice on social & environmental aspects

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What is the NACE code?

Aug 21, 2020 11:57:28 AM / by Andrew Sweetmore posted in EIOPA Reporting, Solvency II reporting, NACE

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NACE  (for the French term “ N omenclature  statistique  des  A ctivités   économiques  dans la  C ommunauté   E uropéenne ”)  is a European standard for industry grouping widely used in statistic s . It   is required for  institutional reporting like Solvency II and EIOPA reporting  for pension schemes .   It comes from  EU Regulation 1893/2006 of the European Parlament  

What is NACE? 

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