General Insurance Article - EIOPA publishes updated Solvency II Technical Specifications

 The updated Technical Specifications(TS) is a working document that EIOPA recommends to insurance and reinsurance undertakings to use in any quantitative assessments.

 EIOPA have decided to publish the updated TS in order to help participants in the upcoming Long Term Guarantee Assessment (LTGA) to better prepare for the exercise, whenever it is agreed between the trialogue parties.

 However, the first part of the updated TS contains only general specifications that don’t depend on the Long Term Guarantee (LTG) package. The LTG-related technical specifications are still under political discussions and will be published by EIOPA in due course as a second part.

 The undertakings have been asked to submit their questions to their supervisory authorities. Questions and answers of general interest will be made publicly available on the EIOPA website.