On 17 March 2023, following Public Working Draft 3 (PWD 3) release, the European Insurance and Occupational Pensions Authority (EIOPA) has published the final version of 2.8.0. Solvency II Model.
Due to the scope of changes stemming from a comprehensive review of the Solvency II Directive, it was decided that the 2.8.0 release was preceded by a number of PWDs to provide filers with more time for implementing their reporting solutions. While the first two draft releases aimed at introducing filers to the modelling changes to Solvency II, the later releases focused on providing revised validations and familiarising users with the new structure of published materials.
Based on the feedback received after the publication of PWDs, EIOPA made changes to both modelling and validation resulting in the 2.8.0 Final release.
The Final release of the 2.8.0 Taxonomy will be applicable from December 31, 2023, until a new version is announced. Simultaneously, the 2.7.0 release will continue to apply to PEPP standalone and Pension Funds reporting.
The final Taxonomy 2.8.0 includes the "business package" containing changes to the Implementing Technical Standards and the Solvency II Reporting Guidelines, as well as validations. Namely, one of the biggest changes introduced in the 2.8.0 release focuses on the definition and syntax of business validations.
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Download the EIOPA Taxonomy 2.8.0 Factsheet to learn more
