EIOPA has published a report on data quality in Solvency II reporting. The report acknowledges the importance of data quality and the work done to improve it, including, inter alia, the contributions by legal entity identifiers (LEIs).
EIOPA concludes that there has been a significant improvement in the quality of the Solvency II reporting data since the entry into force of the Solvency II Directive (2009/138/EC) in January 2016. It emphasises that data quality still remains a major issue and that further enhancements are needed. It calls for permanent intensive effort from reporting entities and national supervisors to further improve the quality of Solvency II reporting data.
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