Altova Solvency II XBRL add-in for Excel Features
What is Solvency II Reporting?
Solvency II is a set of regulations from the European Insurance and Occupational Pensions Authority (EIOPA) for the insurance industry in the EU. Solvency II reporting and disclosure requirements for regulated companies are covered by two key reports: the Solvency and Financial Condition Report (SFCR) and the Regulatory Supervisory Report (RSR). These reports are to be submitted in XBRL according to the Solvency II XBRL Taxonomy.
Solvency II Reporting in Excel
To assist companies with building Solvency II reports, the Altova Solvency II XBRL add-in for Excel lets users create valid XBRL reports directly in Excel, without being exposed to the underlying XBRL syntax. Because the add-in lets stakeholders build Solvency II reports in Excel where they're already comfortable working, there’s no learning curve to transition to XBRL reporting. After downloading and installing the Solvency II reporting add-in, you will find a new Solvency II ribbon available in Excel with buttons to:
- Enter Solvency II data in Excel, using a predefined template spreadsheet
- Validate report data directly in Excel to ensure it conforms to the Solvency II XBRL taxonomy
- Export Solvency II reports from Excel to XBRL for filing
- Import data from existing Solvency II XBRL reports into Excel for analysis
Solvency II Report Pane
As you work in Excel, the Reporting Pane makes it easy to select the tables you want to include in your report. Each table selected appears as a new sheet in your Excel workbook. The properties section of the Reporting Pane includes tabs for Report, Table, and Cell. The properties displayed refer to the content of the XBRL instance file that will be created when you export the XBRL instance. Next to each property is a description with helpful information about the selected report, table, or cell. Properties that are grayed out are read-only; otherwise, you can edit a property by typing text or selecting a value from a drop-down box. Because the Cell pane displays the description of the currently selected cell as it’s annotated in the underling taxonomy, users can understand exactly what to enter at all times.
Import or Export Solvency II XBRL
Once your report is complete in Excel and you've run a validation check, simply click the Export XBRL button in the Solvency II ribbon, and the add-in will generate a valid XBRL report document. It's just as easy to import existing Solvency II reports that are already in XBRL into Excel for easy analysis. Just click the Import XBRL button. Once the XBRL data is in Excel, it's easy to view, review, understand, and/or re-use.
Advanced Features in Enterprise Edition
The Solvency II XBRL Add-in for Excel is available in Basic and Enterprise Editions. The advanced Enterprise Edition includes all the features of the Basic Edition, plus:
- Batch conversion button in the Excel ribbon for converting multiple Solvency II XBRL reports to Excel
- COM API that can be used to programmatically automate data entry and facilitate proper editing of the Excel/XBRL document, as well as automate the creation of Solvency II XBRL reports
Support for Additional Local Taxonomies
In addition to the Solvency II taxonomy, the add-in supports report creation for the local taxonomies listed below. Simply download and install the required taxonomies from the Solvency II download page, and they will be available during report creation.
- BOE - Bank of England (BOE) filing rules
- CBI: Solvency II Solvency II NST reports from the Central bank of Ireland
- FTK: “Algemene Pensioenfondsen” and “Financieel Toesingskader” reports from De Nederlandsche Bank
- NBB: National Bank of Belgium (NBB) filing rules
