zeb Introduces Latest Solvency II Release
Posted: 27 November 2017 | Source: zeb
In November 2017, zeb is making Solvency Ii Release 3.2 available to all users. Besides various technical changes and enhancements, the release essentially includes the update of the taxonomy to version 2.2.0, which will be relevant for the first time for the quarterly report Q4/2017.
In the process, EIOPA has mainly made changes to the QRT. For example, in the new taxonomy, there are new columns and rows, four new metrics (submission structure, reporting status structure, type of undertaking life / non-life structure and rating agency structure), a new technical report, changed labels as well as new validation rules. The latter were hardly complemented by technical rules but rather by XBRL assertions. All changes resulting from taxonomy 2.2.0 had been incorporated by zeb through Release 3.2.
In addition, the latest release features various technical extensions:
- The Variation Analysis explains the change in own funds under Solvency II between two reporting occasions.
- Calculation of EPIFP non-life
- Takeover of EPIFP into QRT p.23.01
- Delivery of LTG measures (LTGM) to simulate results in the following areas:
- SCR and MCR
- Calculation of deferred taxes and their loss-absorbing capacity
Moreover, the configuration of user authorizations has been made more performant and easier to understand thanks to a new structured overview as well as an extension of the permission settings.
Zeb gladly supports its customer with the update to Release 3.2. If required, zeb carries out the technical installation on the customer's systems, adapts customer-specific customizations to new features within the standard, and offers webinars to explain the enhancements of Release 3.2.