Italy: IVASS reminds the timing for supervisory reporting – JD Supra

IVASS has published its letter to the market of 4 March 2022 on the timing and operational modalities for the communication of information related to supervisory reporting. The Letter to the Market, together with the related annexes, detail the main obligations for insurance and reinsurance undertakings for sending the supervisory reports to IVASS with a reference date of 2022 or to be sent during 2022, including the methods of transmission through the Infostat platform and the relevant deadlines.

IVASS has published its letter to the market of 4 March 2022 on the timing and operational modalities for the communication of information related to supervisory reporting (the “Letter to the Market”). The Letter to the Market is addressed – among the others – to Italian insurance undertakings and EEA insurance undertakings authorised to operate in Italy under right of establishment as well as EEA insurance undertakings authorised to operate in Italy under freedom to provide services in classes 10 (third party motor liability) and 12 (third party craft liability).

The Letter to the Market, together with the related annexes, detail the main obligations for sending the supervisory reports to IVASS with a reference date of 2022 or to be sent during 2022, including the methods of transmission through the Infostat platform and the relevant deadlines. The indicated deadlines do not include the surveys activated by IVASS on a temporary basis to meet specific supervisory or EIOPA requirements, such as the monitoring of liquidity, solvency and investments for which specific instructions have already been provided.

Reports provided under EU legislation

With reference to the year 2022, the following chart shows the required reports pursuant to Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 and the expected timing for the submission of data. The content of the surveys shall be transmitted to IVASS through the Infostat platform.

Reports provided under Italian legislation

The following chart shows the Infostat surveys set up under Italian regulations for the collection of local gaap information and the corresponding reporting deadlines.

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