Insurers clamour for materiality guidance on Solvency II reporting

Risk magnifying glass

UK insurers are urging regulators to lay out clear guidance on materiality thresholds for Solvency II's regulatory reporting requirements, amid concerns that current policy will force firms to submit excessive amounts of data.

Firms want to know how much information they need to provide when reporting intragroup transactions and details of investments in funds and funds-of-funds.

They are concerned that without proper guidance on materiality, Solvency II rules as currently written would require