The Solvency and Financial Condition Report (SFCR) must be published annually with certain quantitative data in XBRL format. This guide covers the specific requirements for SFCR XBRL disclosure.
Key Takeaways
- SFCR combines narrative and quantitative disclosure
- Selected QRTs must be in XBRL format
- Publication deadline is annual
- Public disclosure rules apply
- Consistency with regulatory reporting required
SFCR Overview
SFCR requirements:
• Annual public disclosure document
• Business and performance summary
• Governance system description
• Risk profile explanation
• Valuation information
• Capital management details
Quantitative templates support the narrative content.
XBRL Requirements
SFCR XBRL elements:
• Selected balance sheet templates
• Own funds templates
• SCR/MCR templates
• Technical provisions summary
XBRL files must accompany the PDF/HTML narrative report.
Template Selection
SFCR templates include:
• S.02.01 - Balance sheet
• S.05.01 - Premiums, claims
• S.12.01 - Life technical provisions
• S.17.01 - Non-life technical provisions
• S.22.01 - Own funds
• S.23.01 - Own funds details
• S.25.01 - SCR
Publication Rules
Publication requirements: • Due within 14 weeks of year-end • Must be on company website • Machine-readable format required • XBRL files must be accessible Ensure XBRL files are properly linked from the SFCR document.
Consistency Checks
SFCR must be consistent with:
• Annual QRT submission to supervisor
• Financial statements
• Previous year SFCR
Discrepancies require explanation. Regulators compare filings.
Checklist
- SFCR narrative completed
- QRTs for SFCR identified
- XBRL generated
- Validation passed
- Consistency with regulatory filing verified
- Publication deadline confirmed
- Website publication prepared
- Accessibility verified