FinDatEx has released Version 7 of the Solvency II Tripartite Template (TPT), marking the latest update to the industry standard for data exchange between asset managers and insurers. The new version reflects a comprehensive review and aligns the template with recent regulatory developments under Solvency II.

TPT V7 will be applicable from March 2025, with a transition period during which both V6 and V7 can be used in parallel before full adoption is recommended by mid-2025.

Key Differences Compared to TPT V6

Compared to the largely incremental changes introduced in V6, TPT V7 brings more substantial enhancements:

  • Regulatory updates: Alignment with recent Solvency II regulatory amendments introduced in the Commission Implementing Regulation (EU) 2023/894 published on 4 April 2023, ensuring continued compliance with updated QRT requirements.
  • New NACE classification support: Introduction of a new field for NACE Rev. 2.1 alongside the existing classification, enabling a smoother transition to updated economic activity standards.
  • Additional data fields: New fields related to expected maturity and risk metrics improve the accuracy of reporting and SCR calculations.
  • Enhanced treatment of complex instruments: Improved handling of instruments such as callable bonds and PIK features, reflecting increasing market complexity.
  • Refined data definitions: Further clarifications and editorial updates enhance consistency and data quality across reporting.

Conclusion

While TPT V6 primarily focused on targeted corrections and incremental refinements, TPT V7 represents a more significant step forward in the evolution of Solvency II reporting standards. The update not only addresses recent regulatory developments under the revised Solvency II framework, but also responds to the growing complexity of financial instruments and the increasing demand for more granular, high-quality data across the insurance and asset management industries.

By introducing enhanced data fields, supporting the transition to NACE Rev. 2.1 classifications, and improving the treatment of complex instruments and risk metrics, FinDatEx is reinforcing the role of the TPT as a critical industry standard for transparent and efficient data exchange. These enhancements are expected to support insurers in achieving more accurate SCR calculations, improved QRT reporting, and greater consistency in regulatory disclosures across jurisdictions.

The transition period throughout 2025 will give market participants time to adapt their reporting frameworks, data models, and operational processes. However, firms should begin assessing the impact of the new requirements early to ensure a smooth migration from V6 to V7 and to avoid potential reporting disruptions once V7 becomes the market standard.

Overall, TPT V7 demonstrates FinDatEx’s continued commitment to maintaining a robust, forward-looking reporting framework that evolves alongside regulatory expectations and market practices, helping insurers and asset managers meet increasing transparency and compliance demands in a rapidly changing regulatory environment.

The official templates and supporting documentation are available on the FinDatEx website.