LegalizeCommission Implementing Regulation (EU) 2023/894 of 4 April 2023 laying down implementing technical standards for the application of Directive 2009/138/EC of the European Parliament and the Council with regard to the templates for the submission by insurance and reinsurance undertakings to their supervisory authorities of information necessary for their supervision and repealing Implementing Regulation (EU) 2015/2450 (Text with EEA relevance)
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
| ITEM | INSTRUCTIONS | |
| C0010/R0010 | Valuation movements on investments | Valuation movements on investments, including: — For those assets kept in the portfolio, the difference between Solvency II values at the end of the reporting period (N) and at the beginning of the Year (N–1); — For those investments divested between the two reporting periods (including where an asset was acquired during the reporting period), the difference between the selling price and the Solvency II value as at the last reporting period (or, in case of investments acquired during the period, the acquisition cost/value); — For those assets acquired during the reporting period and still held at the end of the reporting period, the difference between the closing Solvency II value and the acquisition cost/value. It shall include amounts relative to derivatives regardless of derivatives being an asset or a liability. It shall not include amounts reported in ‘Investment revenues – R0040’ and ‘Investments expenses including Interest charges on subordinated and financial liabilities – R0050’. |
| C0010/R0020 | Valuation movements on own shares | Same as for cell C0010/R0010, but for own shares. |
| C0010/R0030 | Valuation movements on financial liabilities and subordinated liabilities | Valuation movements on financial liabilities and subordinated liabilities, including: — For those financial and subordinated liabilities issued prior to the reporting period and not redeemed, the difference between Solvency II values at the end of the reporting period (N) and at the beginning of the reporting period (N–1); — For those financial and subordinated liabilities redeemed during the reporting period, the difference between the redemption price and the Solvency II value as at the end of the last reporting period; — For those financial and subordinated liabilities issued during the reporting period and not redeemed during the period, the difference between the closing Solvency II value and issuance price. |
| C0010/R0040 | Investment Revenues | Includes dividends, interests, rents and other revenues, due to investments within scope of this template. |
| C0010/R0050 | Investments expenses including interest charges on subordinated and financial liabilities | Investments expenses including interest charges on subordinated and financial liabilities, including: — Investment management expenses – related to ‘Investments’ and to ‘Own shares’; — Interest charges on financial and subordinated liabilities related to ‘Financial liabilities other than debts owed to credit institutions’ as well as ‘Debts owed to credit institutions’ and ‘Subordinated liabilities’. Those expenses and charges correspond to the ones recorded and recognised on an accrual basis at the end of the period. |
| C0010/R0060 | Variation in Excess of Assets over Liabilities explained by investments and financial liabilities management | Total of variation in Excess of Assets over Liabilities explained by investments and financial liabilities management. |
| C0010/R0070 | Dividends | Amount of dividends earned over the reporting period, excluding any dividends from property held for own use. The same definition as in S.09.01 shall apply (except for the scope of investments to consider). |
| C0010/R0080 | Interests | Amount of interest earned over the reporting period, excluding any interest from property held for own use. The same definition as in S.09.01 shall apply (except for the scope of investments to consider). |
| C0010/R0090 | Rents | Amount of rent earned over the reporting period, excluding any rent from property held for own use. The same definition as in S.09.01 shall apply (except for the scope of investments to consider). |
| C0010/R0100 | Other | Amount of other investments income received and accrued at the end of the reporting year. Applicable to other investment income not considered in cells C0010/R0070, C0010/R0080 and C0010/R0090, such as securities lending fees, commitment fees etc., excluding the ones from property held for own use. |
S.29.03 – Excess of Assets over Liabilities – explained by technical provisions
General comments:
This section relates to annual submission of information for individual entities.
This template focuses on changes in the Excess of Assets over Liabilities due to technical provisions (TP). The scope of technical provisions includes risks captured through Best Estimate (BE) and Risk margin, and those captured through TP calculated as a whole.
As regards the order of calculation in the table ‘breakdown of Variation in Best Estimate’, presentation of the order is not deemed prescriptive as to the order in which the calculation is performed, as long as the content of the different cells indeed reflect the purpose and definition of these cells.
Undertakings are required to report data on accident year or underwriting year basis, in accordance with any requirements of the National Supervisory Authority. If the National Supervisory Authority has not stipulated which to use then the undertaking may use accident or underwriting year according to how they manage each line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, provided that they use the same year consistently, year on year.
The purpose of the template is to provide a detailed understanding of the changes in the Excess of Assets over Liabilities related to technical provisions, considering:
- — Changes in TP captions;
- — Changes in technical flows of the period;
- — A detailed breakdown of the variation of Best Estimate – gross of reinsurance by sources of changes (such as new business, changes in assumptions, experience, etc.).
The accepted reinsurance on unit-linked and index-linked business shall be included within the template.
| ITEM | INSTRUCTIONS | |
| Of which the following breakdown of Variation in Best Estimate – analysis per UWY if applicable – Gross of reinsurance | ||
| C0010–C0020/R0010 | Opening Best Estimate | Amount of Best Estimate – gross of reinsurance – as stated in the Balance Sheet at closing year N–1 related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an underwriting year approach (UWY) is used for Best Estimate calculation. |
| C0010–C0020/R0020 | Exceptional elements triggering restating of opening Best Estimate | Amount of adjustment to opening Best Estimate due to elements, other than changes in perimeter that led to restate the opening BE. Shall essentially concern changes in models (in case models are used) for correction of the model and other modifications. It shall not concern changes in assumptions. These cells are expected to be mostly applicable for Life business. |
| C0010–C0020/R0030 | Changes in perimeter | Amount of adjustment to opening Best Estimate related to changes in perimeter of the portfolio like sales of (part of) portfolio and purchases. This could also concern changes of perimeter due to liabilities evolving to annuities stemming from Non–Life obligations (triggering some changes from Non–Life to Life). |
| C0010–C0020/R0040 | Foreign exchange variation | Amount of adjustment to opening Best Estimate related to foreign exchange variation during the period. In this case the foreign exchange variation is actually meant to be applied to contracts which are taken out in currencies different from the balance sheet currency. For the calculation, the cash–flows of these contracts contained in the opening Best Estimate are simply converted due to the exchange variation. This item does not address the impact on the cash–flows of the insurance portfolio induced by re–valuation of year N–1 assets due to foreign exchange variation during year N. |
| C0010–C0020/R0050 | Best Estimate on risks accepted during the period | It represents present expected future cash flows (gross of reinsurance) included in Best Estimate and related to risks accepted during the period. This shall be considered at the closing date (and not at the actual date of inception of the risks), i.e. this shall form part of the Best Estimate at closing date. The scope of cash flows refers to Article 77 of Directive 2009/138/EC. |
| C0010–C0020/R0060 | Variation of Best Estimate due to unwinding of discount rate – risks accepted prior to period | The variation of Best Estimate captured here shall only relate to the unwinding of discount rates, and does not take into account other parameters such as changes in assumptions or discount rates, experience adjustment, etc. The concept of unwinding may be illustrated as follows: Calculate the Best Estimate of year N–1 again but using the shifted interest rate term structure In order to isolate this strict scope of variation, the calculation may be as follows: — Consider Opening Best Estimate including the adjustment to opening Best Estimate (cells C0010/R0010 to R0040); — Based on this figure, run the calculation of the unwinding of discount rates. |
| C0010–C0020/R0070 | Variation of Best Estimate due to year N projected in and out flows – risks accepted prior to period | Premiums, claims, and surrenders that were forecasted on the Opening Best Estimate as to be paid during the year, will not be in the closing Best Estimate anymore as they would have been paid/received during the year. A neutralisation adjustment shall be performed. In order to isolate this adjustment, the calculation may be as follows: — Consider Opening Best Estimate (cell C0010/R0010) including the adjustment to opening Best Estimate (cells C0010/R0020 to R0040) — Isolate the amount of cash flows (cash in minus cash out) that were projected within this opening Best Estimate for the period considered — This isolated amount of cash flow shall come in addition to Opening Best Estimate (for neutralisation effect) – and be filled in cell C0010/R0070 and C0020/R0070. |
| C0010–C0020/R0080 | Variation of Best Estimate due to experience – risks accepted prior to period | The variation of Best Estimate captured here shall strictly relate to the cash flows projected at the end of the period when compared to the cash flows that were projected at the beginning of the period for the periods N + 1 and future. It shall only capture the changes due to the realisation of the CF in year N and not linked to changes in assumptions. |
| C0010–C0020/R0090 | Variation of Best Estimate due to changes in non–economic assumptions – risks accepted prior to period | It mainly refers to changes in best estimate not driven by realised technical flows and changes in assumptions directly linked to insurance risks (i.e. lapse rates), which can be referred to as non–economic assumptions. In order to isolate the strict scope of variation due to changes in assumptions, the calculation may be as follows: — Consider the opening Best Estimate (cell C0010/R0010) including the adjustment to opening Best Estimate (cell C0010/R0010 to R0040) and the impact of unwinding of year N projected cash–flows (C0010/R0060 to R0080 and C0020/R0060 to R0080 respectively); — Based on this figure, run calculations with new assumptions not related to discount rates – that applied at year end N (if any) This will provide the variation of Best Estimate strictly related to changes in these assumptions. This may not capture the variation due to case–by–case revision of RBNS, which would thus have to be added. For Non–Life, cases can be expected where these changes cannot be discerned separately from changes due to experience (C0020/R0080). In such cases, report the total figure under C0020/R0080. |
| C0010–C0020/R0100 | Variation of Best Estimate due to changes in economic environment – risks accepted prior to period | It mainly refers to assumptions not directly linked to insurance risks, i.e. mainly the impact of the changes in economic environment on the cash flows (taking management actions into account, e.g. reduction of future discretionary benefits (‘FDB’)) and changes in discount rates. For non–life (C0020/R0100), in case variation due to inflation cannot be discerned from changes due to experience, the whole amount would be reported under C0020/R0080. In order to isolate this strict scope of variation, the calculation may be as follows: — Consider the opening Best Estimate including the adjustment to opening Best Estimate (cell C0010/R0010 to R0040) and the impact of unwinding, of year N projected cash–flows and experience (C0010/R0060 to R0080 and C0020/R0060 to R0080 respectively, or alternatively, C0010/R0060 to R0090 and C0020/R0060 to R0090 respectively) — Based on this figure, run calculations with new discount rates that applied during year N, together with related financial assumptions (if any). This will provide the variation of Best Estimate strictly related to changes in discount rates and related financial assumptions. |
| C0010–C0020/R0110 | Other changes not elsewhere explained | Corresponds to other variations in Best Estimate, not captured in cells C0010/R0010 to R0100 (for Life) or C0020/R0010 to R0100 (Non–Life). |
| C0010–C0020/R0120 | Closing Best Estimate – gross of reinsurance | Amount of Best Estimate as stated in the Balance Sheet at closing year N related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an underwriting year approach (UWY) is used for Best Estimate calculation. These cells might be nil (if no UWY approach is used), or might total the closing Best Estimate figure in the Balance Sheet if no accident Year approach (AY) is used. |
| Of which the following breakdown of Variation in Best Estimate – analysis per UWY if applicable – Reinsurance recoverables | ||
| C0030–C0040/R0130 | Opening Best Estimate | Amount of Best Estimate of reinsurance recoverable as stated in the Balance Sheet at closing year N–1 related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an underwriting year approach (UWY) is used for Best Estimate calculation. |
| C0030–C0040/R0140 | Closing Best Estimate | Amount of Best Estimate of reinsurance recoverable as stated in the Balance Sheet at closing year N related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an underwriting year approach (UWY) is used for Best Estimate calculation. |
| Of which the following breakdown of Variation in Best Estimate – analysis per AY if applicable – Gross of reinsurance | ||
| C0050–C0060/R0150 | Opening Best Estimate | Amount of Best Estimate – gross of reinsurance – as stated in the Balance Sheet at closing year N–1 related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an accident year approach (AY) is used for Best Estimate calculation. |
| C0050–C0060/R0160 | Exceptional elements triggering restating of opening Best Estimate | Same as for C0010 and C0020/R0020 |
| C0050–C0060/R0170 | Changes in perimeter | Same as for C0010 and C0020/R0030 |
| C0050–C0060/R0180 | Foreign exchange variation | Same as for C0010 and C0020/R0040 |
| C0050–C0060/R0190 | Variation of Best Estimate on risk covered after the period | It is expected that these cells mainly concerns Non–Life and refers to changes in (part of) Premiums Provisions (i.e. in relation to all recognised obligations within the boundary of the contract at the valuation date where the claim has not yet occurred) as follows: — Identify the part of premiums provisions at end of year (N) related to a coverage period starting after the closing year end N; — Identify the part of premiums provisions at end of Year (N – 1) related to a coverage period starting after the closing Year end N; Derive the variation from the two figures. |
| C0050–C0060/R0200 | Variation of Best Estimate on risks covered during the period | It is expected that these cells mainly concerns Non–Life, and refers to the following cases: a) (part of) Premiums Provisions at Year end N – 1 which turned to Claims Provisions at year end N because claim has occurred during that period b) claims provisions related to claims occurred during the period (for which there was no Premiums provisions at year end N – 1) Calculation may be as follows: — Identify the part of claims provisions at Year end (N) related to risks covered during the period; — Identify the part of premiums provisions at Year end (N – 1) related to risks covered during the period; Derive the variation from the two figures. |
| C0050–C0060/R0210 | Variation of Best Estimate due to unwinding of discount rate – risks covered prior to period | The concept of unwinding may be illustrated as follows: Calculate the Best Estimate of year N–1 again but using the shifted interest rate term structure. In order to isolate this strict scope of variation, the calculation may be as follows: — Consider part of the Opening Best Estimate related to risks covered prior to period, i.e. Opening Best Estimate excluding Premiums provisions but including opening adjustments if any (see cells C0050/R0160 to R0180 and C0060/R0160 to R0180; — Based on this figure, run the calculation of the unwinding of discount rates that applied during year N. |
| C0050–C0060/R0220 | Variation of Best Estimate due to year N projected in and out flows – risks covered prior to period | Premiums, claims, and surrenders that were forecasted on the Opening Best Estimate (related to risks covered prior to period) as to be paid during the year, will not be in the closing Best Estimate anymore as they would have been paid/received during the year. A neutralization adjustment has thus to be performed. In order to isolate this adjustment, the calculation may be as follows: — Consider part of the Opening Best Estimate related to risks covered prior to period, i.e. Opening Best Estimate excluding Premiums provisions; — Isolate the amount of cash flows (cash in minus cash out) that were projected within this opening Best Estimate for the period considered; — This isolated amount of cash flow shall come in addition to Opening Best Estimate (for neutralisation effect) – and be filled in cell C0050 and C0060/R0220. |
| C0050–C0060/R0230 | Variation of Best Estimate due to experience – riskscovered prior to period | The variation of Best Estimate captured here shall strictly relate to the cash flows projected at the end of the period when compared to the cash flows that were projected at the beginning of the period for the periods N + 1 and future. It shall only capture the changes due to the realisation of the CF in year N and not linked to changes in assumptions. |
| C0050–C0060/R0240 | Variation of Best Estimate due to changes in non–economic assumptions – risks covered prior to period | It mainly refers to changes in best estimate not driven by realised technical flows and changes in assumptions directly linked to insurance risks (i.e. lapse rates), which can be referred to as non–economic assumptions. In order to isolate the strict scope of variation due to changes in assumptions, the calculation may be as follows: Consider the opening Best Estimate (cell C0050-C0060/R0150) including the adjustment to opening Best Estimate (cells C0050-C0060/R0160 to R0180) and the impact of unwinding of year N projected cash–flows (C0050-C0060/R0210 to R0230); Based on this figure, run calculations with new assumptions not related to discount rates – that applied at year end N (if any); This will provide the variation of Best Estimate strictly related to changes in these assumptions. This may not capture the variation due to case–by–case revision of RBNS, which would thus have to be added. For Non–Life, in cases where these changes cannot be discerned separately from changes due to experience, report the total figure under C0060/R0230. |
| C0050–C0060/R0250 | Variation of Best Estimate due to changes in economic environment – risks covered prior to period | It mainly refers to assumptions not directly linked to insurance risks, i.e. mainly the impact of the changes in economic environment on the cash flows (taking management actions into account, e. g. reduction of FDB) and changes in discount rates. For non–life (C0060/R0250), in case variation due to inflation cannot be discerned from changes due to experience, the whole amount would be reported under C0060/R0230. In order to isolate this strict scope of variation, the calculation may be as follows: — Consider the opening Best Estimate including the adjustment to opening Best Estimate (cells C0050/R0160 to R0180) and the impact of unwinding, of year N projected cash–flows and experience (C0050/R0210 to R0230 and C0060/R0210 toR0230 respectively, or alternatively, C0050/R0210 to R0240 and C0060/R0210 toR0240, respectively); — Based on this figure, run calculations with new discount rates that applied during year N, together with related financial assumptions (if any). This will provide the variation of Best Estimate strictly related to changes in discount rates and related financial assumptions. |
| C0050–C0060/R0260 | Other changes not elsewhere explained | Corresponds to other variations in Best Estimate, not captured in cells C0050/R0150 to R0250 (for Life) or C0060/R0150 to R0250 (Non–Life). |
| C0050–C0060/R0270 | Closing Best Estimate | Amount of Best Estimate as stated in the Balance Sheet at closing year N related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an accident year approach (AY) is used for Best Estimate calculation. |
| Of which the following breakdown of Variation in Best Estimate – analysis per AY if applicable – reinsurance recoverables | ||
| C0070–C0080/R0280 | Opening Best Estimate | Amount of Best Estimate of reinsurance recoverable as stated in the Balance Sheet at closing year N–1 related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, for which an accident year approach (AY) is used for Best Estimate calculation. |
| C0070–C0080/R0290 | Closing Best Estimate | Amount of Best Estimate of reinsurance recoverable as stated in the Balance Sheet at closing year N related to those lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35 for which an accident year approach (AY) is used for Best Estimate calculation. |
| Of which adjustments in Technical Provisions related to valuation of Unit linked contracts, with theoretically a neutralising impact on Assets over Liabilities | ||
| C0090/R0300 | Net variation for index-linked and unit-linked business | Amount shall represent the net variation, in Balance Sheet, of the Assets held for index–linked and unit–linked funds and of technical provisions – index-linked and unit-linked (calculated as best estimate and risk margin or calculate as a whole). |
| Technical flows affecting Technical provisions | ||
| C0100–C0110/R0310 | Premiums written during the period | Amount of written premiums under Solvency II, respectively for Life and Non–life. |
| C0100–C0110/R0320 | Claims and benefits during the period, net of salvages and subrogations | Amount of claims and benefits during the period, net of salvages and subrogations, respectively for Life and Non–life. If amounts are already captured in the closing best estimate, they shall not be part of this item. |
| C0100–C0110/R0330 | Expenses (excluding Investment expenses) | Amount of expenses (excluding investment expenses – which are reported under S.29.02), respectively for Life and Non–life. If amounts are already captured in the closing best estimate, they shall not be part of this item. |
| C0100–C0110/R0340 | Total technical flows on gross Technical Provisions | Total amount of technical flows affecting gross TP. |
| C0100–C0110/R0350 | Technical flows related to reinsurance during the period (recoverables received net of premiums paid) | Total amount of technical flows related to reinsurance recoverable during the period, i.e. recoverable received net of premiums, respectively for Life and Non–life. |
| Variation in Excess of Assets over Liabilities explained by Technical provisions | ||
| C0120–C0130/R0360 | Variation in Excess of Assets over Liabilities explained by Technical provisions management – Gross Technical Provisions | This calculation corresponds to the following principle: — consider the variation (opening minus closing) in BE, RM, TP calculated as a whole and transitional on Technical Provisions; — add amount of total technical flows, i.e.: inflows minus outflows on gross technical provisions (C0100/R0340 for Life and C0110/R0340 for Non–Life). |
| C0120–C0130/R0370 | Variation in Excess of Assets over Liabilities explained by Technical provisions management – Reinsurance recoverables | This calculation corresponds to the following principle: — consider the variation in Reinsurance recoverables; — add total amount of technical flows, i.e.: inflows minus outflows, related to reinsurance during the period. If the amount has a positive impact on Excess of Assets over Liabilities, this shall be a positive amount. |
S.29.04 – Detailed analysis per period – Technical flows versus Technical provisions
General comments:
This section relates to annual submission of information for individual entities.
This template shall be completed on the basis of Solvency II valuation, i.e. written premiums are defined as the premiums due to be received by the undertaking in the period. Applying this definition means that written premiums in the given year are the premiums actually due to be received in that year, regardless of the coverage period. The definition of written premiums is consistent with the definition of ‘premium receivables’.
Undertakings are required to report data on an accident year or underwriting year basis, in accordance with any requirements of the National Supervisory Authority. If the National Supervisory Authority has not stipulated which to use then the undertaking may use accident or underwriting year according to how they manage each line of business, provided that they use the same year consistently, year on year.
As regards the split per Lines of business for the analysis per period, line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, shall refer to both direct business and accepted proportional reinsurance.
| ITEM | INSTRUCTIONS | |
| Z0010 | Lines of Business | Lines of business (LoB) for which a split of the analysis per period will be required. The following closed list shall be used: 1 – 1 and 13 Medical expense insurance 2 – 2 and 14 Income protection insurance 3 – 3 and 15 Workers’ compensation insurance 4 – 4 and 16 Motor vehicle liability insurance 5 – 5 and 17 Other motor insurance 6 – 6 and 18 Marine, aviation and transport insurance 7 – 7 and 19 Fire and other damage to property insurance 8 – 8 and 20 General liability insurance 9 – 9 and 21 Credit and suretyship insurance 10 – 10 and 22 Legal expenses insurance 11 – 11 and 23 Assistance 12 – 12 and 24 Miscellaneous financial loss 25 – Non-proportional health reinsurance 26 – Non-proportional casualty reinsurance 27 – Non-proportional marine, aviation and transport reinsurance 28 – Non-proportional property reinsurance 37 – Life (including lines of business 30, 31, 32, 34 and 36, as defined in Annex I to Delegated Regulation (EU) 2015/35) 38 – Health SLT (including lines of business 29, 33 and 35) |
| Detailed analysis per period – Technical flows versus Technical provisions – UWY | ||
| Risks accepted during period | ||
| C0010/R0010 | Written premiums underwritten during period | Part of the written premiums during the period that corresponds to contracts underwritten during the year. Allocation keys may be used to identify this part of the total written premiums under Solvency II affected to contracts underwritten during the year. |
| C0010/R0020 | Claims and benefits – net of salvages and subrogations recovered | Part of the claims and benefits, net of salvages and subrogations during the period that corresponds to risks accepted during the period. Allocation keys may be used to identify this part of the total claims, as long as this reconciles at the end to total claims and benefits net of salvages and subrogations as reported in C0100/R0320 from S.29.03 and C0110/R0320 from S.29.03. |
| C0010/R0030 | Expenses (related to insurance and reinsurance obligations) | Part of the expenses during the period that corresponds to risks accepted during the period. Allocation keys may be used to identify this part of the total expenses, as long as this reconciles at the end to total expenses as reported in C0100/R0330 from template S.29.03 plus C0110/R0330 from template S.29.03. |
| C0010/R0040 | Variation of Best Estimate | Corresponds to the variation of Best Estimate for risk accepted during the period. |
| C0010/R0050 | Variation of Technical Provisions as a whole | Part of TP calculated as a whole corresponding to risks accepted during period. Allocation keys may be used to identify this part of the total variation of TP calculated as a whole, as long as this reconciles at the end to total. |
| C0010/R0060 | Net variation for index-linked and unit-linked business | Amount shall represent the net variation, in Balance Sheet, of the Assets held for index–linked and unit–linked funds and of technical provisions – index-linked and unit-linked (calculated as best estimate and risk margin or calculate as a whole). |
| C0010/R0070 | Total | Total impact from risks accepted during period – gross of reinsurance). |
| Risks accepted prior to period | ||
| C0020/R0010 | Written premiums on contract underwritten during period | Part of the written premiums during the period that corresponds to contracts underwritten prior to period. See instructions on C0010/R0010. |
| C0020/R0020 | Claims and benefits – net of salvages and subrogations recovered | Part of the claims and benefits, net of salvages and subrogations during the period that corresponds to risks accepted prior to period. See instructions on C0010/R0020. |
| C0020/R0030 | Expenses (related to insurance and reinsurance obligations) | Part of the expenses during the period that corresponds to risks accepted prior to period. See instructions on C0010/R0030. |
| C0020/R0040 | Variation of BE | Variation of BE due to year N projected in and out flows – risks accepted prior to period (gross of reinsurance) Total for all reported line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, shall correspond to the sum of cells C0010/R0060 to C0010/R0100 from template S.29.03 and C0020/R0060 to C0020/R0100 from template S.29.03. |
| C0020/R0050 | Variation of Technical Provisions as a whole | Part of TP calculated as a whole corresponding to risks accepted prior to period. See instructions on C0010/R0050. |
| C0020/R0060 | Net variation for index-linked and unit-linked business | See instructions on C0010/R0060. |
| C0020/R0070 | Total | Total of changes related to risks accepted to prior, gross of reinsurance. |
| Detailed analysis per period – Technical flows versus Technical provisions – AY | ||
| Risks covered after the period | ||
| C0030/R0080 | Written premiums | Corresponds to part of written premiums related to risks covered after the period, i.e. premiums to be earned after the period. In addition, allocation keys may be used to identify this part of the premiums affected to risks covered after the period. |
| C0030/R0090 | Claims and benefits – net of salvages and subrogations recovered | Corresponds to part of claims and benefits, net of salvages and subrogations related to risks covered after the period (theoretically at nil). See instructions on C0010/R0020. |
| C0030/R0100 | Expenses (related to insurance and reinsurance obligations) | Part of the expenses during the period that corresponds to risks covered after the period. See instructions on C0010/R0030. |
| C0030/R0110 | Variation of Best Estimate | This variation of BE shall correspond to the sum of cells C0050/R0190 from template S.29.03 and C0060/R0190 from template S.29.03. if the analysis in S.29.03 is performed on a line of business basis. The amount refers to changes in (part of) Premiums Provisions (i.e. in relation to all recognised obligations within the boundary of the contract at the valuation date where the claim has not yet occurred) as follows: — Identify the part of premiums provisions at end of year (N) related to a coverage period starting after the closing year-end N — Identify the part of premiums provisions at the end of year (N – 1) related to a coverage period starting after the closing year-end N (i.e. in case of premiums provisions in relation to obligations on more than one future reporting period) In case Premiums Provisions at year end (N – 1) includes amount for which claims occurred during year N, this amount shall not be considered in Variation of BE on risks covered after the period, but, instead in Variation of BE on risks covered during the period, as this provision turned to Claims provisions. |
| C0030/R0120 | Variation of Technical Provisions as a whole | Part of TP calculated as a whole corresponding to risks covered after the period. See instructions on C0010/R0050. |
| C0030/R0130 | Net variation for index-linked and unit-linked business | This cell is deemed not applicable for Non–Life See instructions on C0010/R0060. |
| C0030/R0140 | Total | Total changes related to risks covered after the period, gross of reinsurance. |
| Risks covered during the period | ||
| C0040/R0080 | Written premiums | Corresponds to part of written premiums related to risks covered during the period, i.e. earned premiums under Solvency II principles. In addition, allocation keys may be used to identify this part of the premiums affected to risks covered after the period. |
| C0040/R0090 | Claims and benefits – net of salvages and subrogations recovered | Corresponds to part of claims and benefits, net of salvages and subrogations related to risks covered during the period. See instructions on C0010/R0020. |
| C0040/R0100 | Expenses (related to insurance and reinsurance obligations) | Part of the expenses during the period that corresponds to risks covered during the period. See instructions on C0010/R0030. |
| C0040/R0110 | Variation of Best Estimate | Amount of the variation of best estimate for the risks covered during the period. For risks covered during the period: this variation of BE shall correspond to the sum of cells C0050/R0200 from template S.29.03 and C0060/R0200 from template S.29.03. if the analysis in S.29.03 is performed on a line of business basis. The amount refers to the following cases: a) Premiums Provisions at Year end N–1 which turned to Claims Provisions at year end N because claim has occurred during the period b) Claims provisions related to claims occurred during the period (for which there was no Premiums provisions at year end N – 1) Calculation may be as follows: — Identify the part of claims provisions at year-end (N) related to risks covered during the period. — Identify the part of premiums provisions at year-end (N – 1) related to risks covered during the period. Derive the variation from the two figures. |
| C0040/R0120 | Variation of Technical Provisions as a whole | Part of TP calculated as a whole corresponding to risks covered during period. See instructions on C0010/R0050. |
| C0040/R0130 | Net variation for index-linked and unit-linked business | This cell is deemed not applicable for Non–Life See instructions on C0010/R0060. |
| C0040/R0140 | Total | Total changes related to risks covered during period, gross of reinsurance. |
| Risks covered prior to period | ||
| C0050/R0080 | Written premiums | Corresponds to part of written premiums related to risks covered prior to the period, i.e. earned premiums under Solvency II principles (when the premium is only due after the coverage period). In addition, allocation keys may be used to identify this part of the premiums. |
| C0050/R0090 | Claims and benefits – net of salvages and subrogations recovered | Corresponds to part of claims and benefits, net of salvages and subrogations related to risks covered prior to the period. See instructions on C0010/R0020. |
| C0050/R0100 | Expenses (related to insurance and reinsurance obligations) | Part of the expenses during the period that corresponds to risks covered prior to the period. See instructions on C0010/R0030. |
| C0050/R0110 | Variation of Best Estimate | For risks covered prior to period corresponds to year N projected in and out technical flows for risks accepted prior to period. For risks covered prior to the period this variation of BE shall correspond to the sum of cells R0210/C0050-C0060 to R0250/C0050–C0060 from template S.29.03 if the analysis in S.29.03 is performed on a line of business basis. The calculation may be as follows: — Consider part of the Opening Best Estimate related to risks covered prior to period, i.e. Opening Best Estimate excluding Premiums provisions; — Isolate the amount of cash flows (cash in minus cash out) that were projected within this opening Best Estimate for the period considered; — This isolated amount of cash flow shall come in addition to Opening Best Estimate (for neutralisation effect). |
| C0050/R0120 | Variation of Technical Provisions as a whole | Part of technical provisions as a whole corresponding to risks covered prior to period. See comment on C0010/R0050 |
| C0050/R0130 | Net variation for index-linked and unit-linked business | This cell is deemed not applicable for Non–Life See instructions on C0010/R0060. |
| C0050/R0140 | Total | Total changes related to risks covered prior to period, gross of reinsurance. |
S.30.01 – Facultative covers for non–life and life business basic data
General comments:
This section relates to annual submission of information for individual entities.
This template is relevant to insurance and reinsurance undertakings which reinsure and/or retrocede business on a facultative basis.
It shall be filled by the non–life and life insurance and reinsurance undertakings with information on facultative covers in the next reporting year, covering information on the 20 largest facultative reinsurance exposures (part of sum insured transferred to all reinsurers) overall plus the largest two in each line of business if not covered by the 20 largest. Each facultative risk is submitted to the reinsurer and terms and conditions of the facultative reinsurance are negotiated individually for each policy. Treaties that automatically cover risks are out of scope of this template and must be reported in S.30.03.
Each underwriting risk shall have a unique code specified by the ‘risk identification code’.
This template is prospective (to be in line with S.30.03) and as such shall reflect the reinsurance treaties effective and valid during the next reporting year for the overall 20 largest facultative reinsurance exposures plus the largest two in each line of business if not covered by the 20 largest. Undertakings shall report the most important risks of the next reporting period which are covered by reinsurance treaties valid during the next reporting period. If reinsurance strategy changes materially after the validity date or if the renovation of the reinsurance contracts are performed later than the reporting date and before next 1 January, the information on this template shall be re–submitted when adequate.
Facultative placements covering different lines of business shall also appear in the various relevant line of business if they are ranked within the 20 largest facultative reinsurance exposures plus the largest two in each line of business if not covered by the 20 largest risks of the same line of business.
This template should only be reported if the reinsurance recoverables are higher than 10 % of the Best Estimate calculated separately for life and non-life business.
| ITEM | INSTRUCTIONS | |
| Facultative covers non–life | Facultative covers non–life | Facultative covers non–life |
| C0020 | Reinsurance program code | Undertaking specific reinsurance code that links the dominant treaty of reinsurance programme which also protects the risk covered by the facultative reinsurance. The Reinsurance program code shall be in line with the Reinsurance program code of S.30.03 – Outgoing Reinsurance Program in the next reporting year. |
| C0030 | Risk identification code | For each line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, of non–life insurance a selection shall be made of the 20 largest facultative reinsurance exposures (part of sum insured transferred to all reinsurers) overall plus the largest two in each line of business if not covered by the 20 largest that are subject to facultative reinsurance in force in the next reporting period (also if they originated in preceding years). The code is a unique identifying number assigned by the insurer that identifies the risk and shall remain unchanged for subsequent annual reports. This code once assigned shall not be reused for another risk even when the risk to which the code was originally assigned does not exist anymore. When one risk affects more than one line of business the same code can be used for all the lines of business affected. |
| C0040 | Facultative reinsurance placement identification code | Each facultative reinsurance placement must be assigned a sequence number which is unique for the risk. The facultative reinsurance placement identification code is entity specific. |
| C0041 | Line of business for non-life | Identification of the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, reported. The following closed list shall be used: 1 – Medical expense insurance 2 – Income protection insurance 3 – Workers’ compensation insurance 4 – Motor vehicle liability insurance 5 – Other motor insurance 6 – Marine, aviation and transport insurance 7 – Fire and other damage to property insurance 8 – General liability insurance 9 – Credit and suretyship insurance 10 – Legal expenses insurance 11 – Assistance 12 – Miscellaneous financial loss 13 – Proportional medical expense reinsurance 14 – Proportional income protection reinsurance 15 – Proportional workers’ compensation reinsurance 16 – Proportional motor vehicle liability reinsurance 17 – Proportional other motor reinsurance 18 – Proportional marine, aviation and transport reinsurance 19 – Proportional fire and other damage to property reinsurance 20 – Proportional general liability reinsurance 21 – Proportional credit and suretyship reinsurance 22 – Proportional legal expenses reinsurance 23 – Proportional assistance reinsurance 24 – Proportional miscellaneous financial loss reinsurance 25 – Non–proportional health reinsurance 26 – Non–proportional casualty reinsurance 27 – Non–proportional marine, aviation and transport reinsurance 28 – Non–proportional property reinsurance |
| C0042 | Indication of belonging to the 20 largest exposures | Please indicate whether the exposure belongs to the 20 largest exposures of the undertaking. The following closed list shall be used: 1 – Belongs to 20 largest 2 – LoB not in the 20 largest |
| C0050 | Finite reinsurance or similar arrangements | Identification of the reinsurance contract. The following closed list shall be used: 1 – Non–traditional or Finite RE (if any reinsurance contract or financial instrument which is not directly based on the principle of indemnity or is based on a contract wording which has limited or no demonstrable risk transfer mechanism) 2 – Other than non–traditional or Finite RE In case of Finite reinsurance or a similar arrangement only the items which are feasible must be filled. |
| C0060 | Proportional | Indicate whether the reinsurance program is proportional reinsurance, i.e., involves a reinsurer taking a stated percent share of each policy that an insurer underwrites. One of the options in the following closed list shall be used: 1 – Proportional reinsurance 2 – Non–proportional reinsurance |
| C0070 | Identification of the company/person to which the risk relates | If the risk relates to a company identify the name of the company to whom the risk relates. If the risk relates to a natural person, pseudonymise the original policy number and report pseudonymised information. Pseudonymous data refer to data that cannot be attributed to a specific individual without the use of additional information, as long as such additional information is kept separately. Consistency over time shall be insured. It implies that if a single underwriting risk appears from one year to another, it shall receive the same pseudonymised format. |
| C0080 | Description risk | The description of the risk. Depending on the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, report the type of company, building or occupation of the specific risk insured. |
| C0090 | Description risk category covered | Description of the main scope of the cover of the facultative risk. It is normally part of the description used to identify the placement. The description of the risk category covered is entity specific and is not mandatory. Also the term ‘risk category’ is not based on Directive 2009/138/EC or Delegated Regulation (EU) 2015/35/EC terminologies but can be considered as an extra possibility the give additional information about the underwriting risk(s). |
| C0100 | Validity period (start date) | Identify the ISO 8601 (yyyy–mm–dd) code of the date of commencement of the specific cover, i.e., date when the cover took effect. |
| C0110 | Validity period (expiry date) | Identify the ISO 8601 (yyyy–mm–dd) code of the final expiry date of the specific cover. In case the cover conditions remain unchanged when filling in the template and the undertaking is not making use of the termination clause, the expiry date will be the next possible expiry date. |
| C0120 | Currency | Identify the ISO 4217 alphabetic code of the currency used while placing the facultative cover. All the amounts must be expressed in this currency for the specific facultative cover, unless otherwise required by the national supervisory authority. In case the facultative cover is placed in two different currencies, then the main currency must be filled. |
| C0130 | Sum insured | The highest amount that the insurer can be obliged to pay out under the policy. The insured sum relates to the underwriting risk. Where the facultative cover provides for a number of exposures/risks across the country the aggregate policy limits shall be specified. If the risk has been accepted on a co–insurance basis, the insured sum indicates the maximum liability of the reporting non–life insurer. In the case of unlimited sum insured, the ‘Sum insured’ shall be an estimation of the expected possible loss (calculated using the same methods as used for the calculation of the premium, which shall reflect the actual risk exposure). |
| C0140 | Type of underwriting model | Type of underwriting model which is used to estimate the exposure of the underwriting risk and the need for reinsurance protection. One of the options in the following closed list shall be used: 1 – Sum Insured the highest amount that the insurer can be obliged to pay out according to the original policy. SI must also be filled when type of underwriting model is not applicable 2 – Maximum Possible Loss loss which may occur when the most unfavourable circumstances being more or less exceptionally combined, the fire is only stopped by impassable obstacles or lack of substance. 3 – Probable Maximum Loss defined as the estimate of the largest loss from a single fire or peril to be expected, assuming the worst single impairment of primary private fire protection systems but with secondary protection systems or organizations (such as emergency organizations and private and/or public fire department response) functioning as intended. Catastrophic conditions like explosions resulting from massive release of flammable gases, which might involve large areas of the plant, detonation of massive explosives, seismic disturbances, tidal waves or flood, falling aircraft, and arson committed in more than one area are excluded in this estimate. This definition is a hybrid form between Maximum Possible Loss and Estimated Maximum Loss that is generally accepted and frequently used by insurers, reinsurers and reinsurance brokers 4 – Estimated Maximum Loss loss that could reasonably be sustained from the contingencies under consideration, as a result of a single incident considered to be within the realms of probability taking into account all factors likely to increase or lessen the extent of the loss, but excluding such coincidences and catastrophes which may be possible but remain unlikely. 5 – Other other possible underwriting models used. The type of ‘other’ underwriting model applied must be explained in the Regular Supervisory Report Although abovementioned definitions are used for the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35 ‘Fire and other damage to property insurance’, similar definitions might be in place for other lines of business. |
| C0150 | Amount underwriting model | Maximum loss amount of the underwriting risk which is the result of the underwriting model used. |
| C0160 | Sum reinsured on a facultative basis, with all reinsurers | The sum reinsured on a facultative basis is part of the sum insured which is reinsured on a facultative basis. The amount shall be consistent with the Sum insured as specified in C0130 and reflects the maximum liability (100 %) for the facultative reinsurers. |
| C0170 | Facultative reinsurance premium ceded to all reinsurers for 100 % of the reinsurance placement | Expected gross annual or written reinsurance premium, gross of ceding commissions, ceded to reinsurers for their share. |
| Facultative covers life | Facultative covers life | Facultative covers life |
| C0190 | Reinsurance program code | Undertaking specific reinsurance code that links the dominant treaty of reinsurance programme which also protects the risk covered by the facultative reinsurance. The Reinsurance program code shall be in line with the Reinsurance program code of S.30.03 – Outgoing Reinsurance Program in the next reporting year. |
| C0200 | Risk identification code | For each line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, of life insurance a selection shall be made of the 20 largest facultative reinsurance exposures (part of sum insured transferred to all reinsurers) overall plus the largest two in each line of business if not covered by the 20 largest in terms of exposure that are subject to facultative reinsurance in force in the reporting period (also if they originated in preceding years). The code is a unique identifying number assigned by the insurer that identifies the risk within the branch, and this code cannot be reused for other risks in the same branch and shall remain unchanged for subsequent annual reports. This code once assigned shall not be reused for another risk even when the risk to which the code was originally assigned does not exist anymore. When one risk affects more than one line of business the same code can be used for all the lines of business affected. |
| C0210 | Facultative reinsurance placement identification code | Each facultative reinsurance placement must be assigned a sequence number which is unique for the risk. The facultative reinsurance placement identification code is entity specific. |
| C0211 | Line of business for life | Identification of the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, reported. The following closed list shall be used: 29 – Health insurance 30 – Insurance with profit participation 31 – Index–linked and unit–linked insurance 32 – Other life insurance 33 – Annuities stemming from non–life insurance contracts and relating to health insurance obligations 34 – Annuities stemming from non–life insurance contracts and relating to insurance obligations other than health insurance obligations 35 – Health reinsurance 36 – Life reinsurance |
| C0212 | Indication of belonging to the 20 largest exposures | Please indicate whether the exposure belongs to the 20 largest exposures of the undertaking. The following closed list shall be used: 1 – Belongs to 20 largest 2 – LoB not in the 20 largest |
| C0220 | Finite reinsurance or similar arrangements | One of the options in the following closed list shall be used: 1 – Non–traditional or Finite RE (if any reinsurance contract or financial instrument which is not directly based on the principle of indemnity or is based on a contract wording which has limited or no demonstrable risk transfer mechanism) 2 – Other than non–traditional or Finite RE |
| C0230 | Proportional | Indicate whether the reinsurance program is proportional reinsurance, i.e., involves a reinsurer taking a stated percent share of each policy that an insurer underwrites. One of the options in the following closed list shall be used: 1 – Proportional reinsurance 2 – Non–proportional reinsurance |
| C0240 | Identification of the company/person to which the risk relates | If the risk relates to a company identify the name of the company to whom the risk relates If the risk relates to a natural person, pseudonymise the original policy number and report pseudonymised information. Pseudonymous data refer to data that cannot be attributed to a specific individual without the use of additional information, as long as such additional information is kept separately. Consistency over time shall be insured. It implies that if a single underwriting risk appears from one year to another, it shall receive the same pseudonymised format. |
| C0250 | Description risk category covered | Description of the main scope of the cover of the facultative risk. It is normally part of the description used to identify the placement. The description of the risk category covered is entity specific and is not mandatory. Also the term ‘risk category’ isn’t based on Solvency II Directive terminologies but can be considered as an extra possibility the give additional information about the underwriting risk(s). |
| C0260 | Validity period (start date) | Identify the ISO 8601 (yyyy–mm–dd) code of the date of commencement of the specific cover, i.e., date when the cover took effect. |
| C0270 | Validity period (expiry date) | Identify the ISO 8601 (yyyy–mm–dd) code of the final expiry date of the specific cover. |
| C0280 | Currency | Identify the ISO 4217 alphabetic code of the currency used while placing the facultative cover. All the amounts of this record must be expressed in this currency for the specific facultative cover, unless otherwise required by the national supervisory authority. In case the facultative cover is placed in two different currencies, then the main currency must be filled. |
| C0290 | Sum Insured | The amount that the life insurer pays out to the beneficiary. If the risk is co–insured with other life insurers, the insured capital payable by the reporting life insurer has to be reported here. |
| C0300 | Capital at risk | The capital at risk, as defined in Delegated Regulation (EU) 2015/35/EC. If the risk is co–insured with other life insurers, the risk capital relating to the life insurer’s amount share in the insured capital has to be reported here. |
| C0310 | Sum reinsured on a facultative basis, with all reinsurers | The sum reinsured on a facultative basis is that part of the sum insured which is reinsured on a facultative basis. The amount shall be consistent with the Sum insured as specified in C0290 and reflects the maximum liability (100 %) for the facultative reinsurers. |
| C0320 | Facultative reinsurance premium ceded to all reinsurers for 100 % of the reinsurance placement | Expected gross annual or written reinsurance premium, gross of ceding commissions, ceded to the reinsurers for their share. |
S.30.02 – Facultative covers for non–life and life business shares data
General comments:
This section relates to annual submission of information for individual entities.
This template is relevant to insurance and reinsurance undertakings which reinsure and/or retrocede business on a facultative basis.
It shall be filled by the non–life and life insurance and reinsurance undertakings with information on shares of reinsurers of facultative covers in the next reporting year covering information on the 20 largest facultative reinsurance exposures (part of sum insured transferred to all reinsurers) overall plus the largest two in each line of business if not covered by the 20 largest (e.g. in cases where the risks accepted do not fit in the regular policy acceptance and could only be accepted in case part of the risk is reinsured on a facultative basis). Each facultative risk is submitted to the reinsurer and terms and conditions of the facultative reinsurance are negotiated individually for each policy. Treaties that automatically cover risks are out of scope of this template and must be reported in S.30.03.
Furthermore, each underwriting risk shall have a unique code specified by the ‘risk identification code’. Each chosen risk shall be separated to get unique conditions for a contract in a single line. Where a facultative cover as reported in template S.30.01 is related to more than one reinsurance undertaking, this template shall be filled in with as many rows as the number of reinsurance undertakings involved for the specific facultative cover.
This template is prospective (to be in line with S.30.03) and as such shall reflect the reinsurance treaties effective and valid during the next reporting year for the selected 20 largest facultative reinsurance exposures overall plus the largest two in each line of business if not covered by the 20 largest. Undertakings shall report the most important risks of the next reporting period which are covered by reinsurance treaties valid during the next reporting period. If reinsurance strategy changes materially after the validity date or if the renovation of the reinsurance contracts are performed later than the reporting date and before next 1 January, the information on this template shall be re–submitted when adequate.
Facultative placements covering different lines of business shall also appear in the various rows if they are ranked within the overall 20 largest facultative reinsurance exposures plus the largest two in each line of business if not covered by the 20 largest risks of the same line of business.
This template shall be filled in for each reinsurer that accepted the facultative cover.
This template should only be reported if the reinsurance recoverables are higher than 10 % of the Best Estimate calculated separately for life and non-life business.
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