Technical specifications on SNCU calculation criteria

EIOPA has published final technical specifications providing convergent methodology for identifying Small and Non-Complex Undertakings (SNCUs) and Groups (SNCGs) under the revised Solvency II Directive proportionality framework. The specifications clarify which data points from Quantitative Reporting Templates (QRTs) should be used by (re)insurers and supervisory authorities when determining whether an undertaking or group qualifies as an SNCU/SNCG. The specifications take effect from the entry into application date of the amended Solvency II Directive.

(Re)insurance undertakings classified as SNCUs or SNCGs may benefit from reduced reporting, disclosure, and proportionality measures under the new framework. Insurers and reinsurers should review the technical specifications to determine their classification status and ensure their QRT data submissions support accurate SNCU/SNCG identification. Smaller undertakings should reassess their eligibility for proportionality treatment, while supervisory authorities across Member States must apply these convergent criteria uniformly.