Regulatory reporting works. The bottleneck is absorbing 200+ regulatory changes per year without paralysing the compliance team.

A multinational insurer faces over 200 regulatory changes per year across Solvency II, IFRS 17, DORA, the sustainability directive, and local circulars from the DGSFP. Each quarter, 62 QRT templates must be submitted to the supervisor. The transition to IFRS 17 has added layers of actuarial complexity to the CSM calculation. A DGSFP inspection can require weeks of document preparation. The compliance team operates in permanent reactive mode, prioritising by deadline rather than by risk.

Thomson Reuters, Allianz, EY IFRS 17 Report