In response to the evolving requirements of Solvency II, FinDatEx has released the latest version of the Tripartite Template (TPT), version 7. This update reflects significant enhancements aimed at improving the accuracy and usability of data reported by asset managers and investment funds under Solvency II regulations.

The TPT plays a crucial role in helping insurers and asset managers meet their Solvency II reporting obligations by providing standardized templates for risk and data disclosures. With version 7, several key improvements have been introduced.

Enhanced SCR Calculations

The new version offers improved support for more complex financial instruments, including:

• Step-up callable bonds: better handling of bonds with optional redemption dates.
• Payment-in-Kind (PIK) features: enhanced processing of bonds or loans where payments can be made in kind.
• Infrastructure investments: simplified SCR (Solvency Capital Requirement) calculations and QRT (Quantitative Reporting Template) production for infrastructure related assets

Dual NACE codifications:

To align with upcoming regulatory requiremens, version 7 incorporates both:

• NACE V21: Mandatory from January 2025 under EU regulations
• NACE V20: Required by EIOPA until the updated Solvency II Implementing Technical Standars are published

Data description refinements

Various corrections and adjustments have been made to enhance the template's overall accuracy and usability.

The phased rollout of TPT version 7 is planned as follows:

• End of Q1 2025: Introduction of TPT version 7.
• Q2 2025: Parallel use of both TPT version 6 and version 7.
• Post-Q2 2025: Full adoption of TPT version 7 by market participants.