Solvency II R25-Art.51: Arts 51, 51a (from 30 January 2027) Publish a two-part SFCR within 18 weeks and have its balance sheet audited

The SFCR becomes two parts disclosed jointly: one for policy holders (brief business, performance, capital management and risk profile including sustainability risks, and whether transition plans are disclosed) and one for market professionals (full content plus climate materiality and sustainability plan elements, volatility adjustment by currency and the impact of the extrapolation transitional). It is disclosed and submitted within 18 weeks of year end; small and non-complex undertakings may publish only quantitative data for the professional part, with a full report every three years; captives and reinsurers have reduced duties. The SFCR balance sheet of undertakings other than small and non-complex ones and captives must be audited by a statutory auditor or audit firm (Member States may extend scope), with the audit report submitted with the SFCR.