IRRD Reporting
Prepare for the new Insurance Recovery and Resolution Directive (IRRD)
The Insurance Recovery and Resolution Directive (IRRD) establishes a harmonised European framework designed to improve the preparedness of insurers and supervisory authorities for situations of severe financial distress.
Developed by the European Union and supported by EIOPA, IRRD introduces new reporting requirements that enable resolution authorities to assess insurers’ recovery and resolution capabilities more effectively.
The framework complements the existing Solvency II regime by focusing specifically on recovery planning, resolution planning and crisis management.
Why IRRD Matters
The implementation of IRRD represents a significant evolution in insurance regulatory reporting.
Financial institutions will need to adapt to:
- new reporting requirements;
- dedicated XBRL taxonomies;
- updated validation rules;
- enhanced governance and data quality expectations;
- evolving supervisory reporting processes.
Preparing early will help insurers reduce implementation risks and ensure a smooth transition towards the new framework.
Who is affected?
IRRD primarily impacts:
- Insurance companies
- Insurance groups
- Reinsurance companies
- Resolution authorities
- Supervisory authorities
- Regulatory reporting teams
- Risk management departments
- Compliance departments
Key Challenges
Many organisations will face several implementation challenges:
- Understanding new reporting obligations
Keeping pace with evolving EIOPA specifications and regulatory expectations.
- Managing new XBRL taxonomies
Supporting multiple versions while ensuring continuous compliance.
- Ensuring data quality
Maintaining consistency, completeness and traceability across reporting processes.
- Meeting reporting deadlines
Automating validation and submission workflows to reduce operational effort.
How UBPartner Supports IRRD Reporting
UBPartner provides a complete regulatory reporting platform designed to simplify compliance with evolving regulatory frameworks.
Our solution enables insurers to:
- manage IRRD XBRL taxonomies;
- validate reports using the latest EIOPA business rules;
- automate reporting workflows;
- monitor reporting status;
- improve data quality;
- ensure auditability and traceability;
- rapidly adopt future taxonomy updates.
Why Choose UBPartner?
For more than 20 years, UBPartner has supported financial institutions and regulators with advanced XBRL solutions.
Our platform offers:
✔ Full XBRL support
✔ Continuous taxonomy updates
✔ Automated validation
✔ Workflow management
✔ Secure SaaS or On-Premise deployment
✔ REST APIs
✔ Scalable enterprise architecture
FAQ - IRRD
What is IRRD?
IRRD stands for Insurance Recovery and Resolution Directive. It establishes a European framework for recovery and resolution planning within the insurance sector.
Does IRRD replace Solvency II?
No.
IRRD complements Solvency II by introducing additional reporting requirements related to recovery and resolution planning.
Will IRRD use XBRL?
Yes.
EIOPA publishes IRRD reporting packages using the same Digital Reporting / DPM / XBRL ecosystem as other insurance reporting frameworks.
When does IRRD reporting start?
The framework is being progressively introduced according to the EIOPA roadmap and national implementation schedules. Organisations should begin preparing well before the first mandatory reporting cycle.
Can UBPartner support IRRD?
Yes.
UBPartner will provide support for IRRD taxonomies, validation rules and reporting workflows as they become available.
