Since the FSAP, BaFin has made some improvements
Reporting requirements: Since the FSAP, BaFin has made some improvements to the
reporting requirements for insurers, both on a permanent and an ad hoc basis. On a permanent
basis, the investment reporting has been extended to include more data on insurers’
investments.
On an ad hoc basis, BaFin has requested additional investment data from a
sample group of 30 insurers (including the largest entities) on 24 occasions between 2011 and
2013. Robust controls appear to be in place to validate the quality of data.
The amendments to the German Insurance Supervision Act, which are expected to become
effective in 2014, will strengthen regular reporting requirements for insurers and their
external auditors.
In spite of this, BaFin does not exclude the possibility of extending the
requirements further in 2014 and 2015 in light of the EU AIFMD and Solvency II.
EU Forecast
euf:ba.18.j:90/nws-01