The Financial Services Board (FSB) has released the full suite of the proposed annual Quantitative Reporting Templates (QRTs) for solo entities and insurance groups early in October 2014 for industry comment. Discussion Document 29 (v8), issued at the same time, on the proposed segmentation for authorisation and reporting classes of business should be considered together with the QRTs.
The final suite of the QRTs will be used for SAM reporting during the Comprehensive Parallel Run (CPR), which will give insurers a good indication what the reporting requirements would be once SAM becomes effective. The proposed annual QRTs to be used in the Comprehensive Parallel run will require a significant step up from the current regulatory returns.
In this SAM Focus we discuss the requirements and implications of the Solo and Group QRTs. If you wish to discuss this document in more detail, please contact your usual PwC contact or those listed at the end of the document.
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