Technical specification for the calculation of criteria for Small and Non-Complex Undertakings (SNCUs) and Groups (SNCGs) under Solvency II

The recent review of the Solvency II Directive introduces a new proportionality framework to improve the effective application of the proportionality principle in the prudential framework for European (re)insurers.

A key feature of this framework is the new category of Small and Non-Complex Undertakings (SNCUs) and Groups (SNCGs). 

The technical specifications provide clarifications to undertakings and supervisory authorities on which data points in the relevant Quantitative Reporting Templates (QRTs) should be used to identify SNC undertakings and groups. The overarching objective of this document is to ensure a convergent implementation of the new framework across Member States from the date of entry into application of the amended Solvency II Directive.