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Why you need an LEI as an insurance company or pension fund

14.12.2015: With the start of the new supervisory regime under Solvency II on 1 January 2016, companies and groups supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) will see some changes in the way they report to the supervisory authority. This will also affect the use of the LEI in relation to the reporting of companies and groups falling within the scope of the Solvency II Directive and, to a lesser extent, other companies.

For this reason, BaFin has issued an information sheet on reporting for primary insurance and reinsurance undertakings, insurance groups and pension funds (PDF 251 kB) for entities supervised by BaFin.

Chapter 3 contains specific information on reporting under Solvency II. As part of the information on regular quantitative reporting to the supervisory authority, the LEI is mentioned as an identification number in Chapter 3.7.2. The Reporting Regulation will prescribe the use of the LEI for the above purposes.