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 | ID of intragroup transaction | Unique internal identification code for each intragroup transaction. Shall be consistent over time. |
| C0020 | Investor/Lender name | Name of the entity that is buying the equity or lending to a related undertaking within the group, i.e. the entity that recognises the transaction as an asset on its balance sheet (debit – balance sheet). |
| C0030 | Identification code for investor/lender | The unique identification code attached to the investor/buyer/transferee by this order of priority if existent: — Legal Entity Identifier (LEI); — Specific code Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0031 | Type of code for investor/lender | Type of ID Code used for the ‘Identification code for investor/lender’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| NC0040 | Sector of the investor/lender | If the investor/lender is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the investor/lender is not part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC indicate: ‘other undertaking of the group’. |
| C0050 | Issuer/borrower name | Name of the entity that is issuing the equity/capital item, or borrowing money (issuing debt), i.e. the entity that recognises the transaction as a liability or capital on its balance sheet (credit – balance sheet). |
| C0060 | Identification code for issuer/borrower | The unique identification code attached to the investor/buyer/transferee by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the financial conglomerate shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0061 | Type of code for issuer/borrower | Type of ID Code used for the ‘Identification code for issuer/borrower’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| NC0070 | Sector of the issuer/borrower | If the issuer/borrower is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the issuer/borrower is not part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC indicate ‘other undertaking of the group’. |
| NC0080 | Indirect transactions | If reported intra-group transaction is part of an indirect transaction (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported IGT is not part of an indirect transaction, indicate No. |
| NC0090 | Single economic operation | If the reported IGT is part of single economic operation (cf. General comments supra report the ‘ID of intragroup transaction’ (C0010)) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported IGT is not part of single economic operation, indicate No |
| NC0100 | ID Code of the instrument | This is the identification code of the instrument (capital, debt etc.) between the two counterparties identified using the following priority: — ISO 6166 code of ISIN when available — Other recognised codes (e.g.: CUSIP, Bloomberg Ticker, Reuters RIC) — Code attributed by the undertaking, when the options above are not available. This code shall be consistent over time. This may be different from the intragroup transaction code provided in cell C0010. |
| NC0101 | ID Code Type of the instrument | Type of ID Code used for the ‘ID Code of the instrument’ item. One of the options in the following closed list shall be used: 1 – ISO 6166 for ISIN code 2 – CUSIP (The Committee on Uniform Securities Identification Procedures number assigned by the CUSIP Service Bureau for U.S. and Canadian companies) 3 – SEDOL (Stock Exchange Daily Official List for the London Stock Exchange) 4 – WKN (Wertpapier Kenn-Nummer, the alphanumeric German identification number) 5 – Bloomberg Ticker (Bloomberg letters code that identify a company’s securities) 6 – BBGID (The Bloomberg Global ID) 7 – Reuters RIC (Reuters instrument code) 8 – FIGI (Financial Instrument Global Identifier) 9 – Other code by members of the Association of National Numbering Agencies 99 – Code attributed by the undertaking |
| NC0110 | Type of instrument | Identify the type of instrument. The following closed list shall be used: 1 – Bonds/Debt 2 – Equity type 3 – Other asset transfer |
| NC0120 | Instrument | Identify the instrument. The following closed list shall be used: 1 – Bonds/Debt – collateralised 2 – Bonds/Debt – uncollateralised 3 – Equity type – shares/participations 4 – Equity type – others 5 – Other asset transfer – properties 6 – Other asset transfer – others |
| NC0130 | Issue date | This is the earlier of the transaction/debt issue date or the date the intragroup transaction is effective from, if different from the issue date. The date shall follow the ISO 8601 (yyyy-mm-dd) format. |
| NC0140 | Maturity date | Identify the ISO 8601 (yyyy-mm-dd) code of the date when the transaction expires/reaches maturity if applicable. — For intragroup transaction with no maturity date use ‘9999-12-31’. — For perpetual securities use ‘9999-12-31’ |
| NC0150 | Currency of transaction | Identify the ISO 4217 alphabetic code of the currency in which the transaction took place. |
| NC0160 | Amount at transaction date | Amount of the transaction at transaction date reported. |
| NC0170 | Amount at reporting date | Outstanding amount of the transaction at the reporting date if applicable e.g. for debt issue, reported in the reporting currency of the group. If there has been a full early settlement/prepayment, the balance of contractual amount shall be zero. |
| NC0180 | Value of collateral | The value of collateral for collaterised debt or asset value for intragroup transaction involving asset transfer. |
| NC0190 | Amount of dividends/interest/coupon and other payments made during reporting period | This cell shall capture any payments made in relation to the intragroup transaction s recorded in this template for the reporting period (6 months up to the reporting date). This includes, but not limited to: — Dividends for the current year including paid or declared but unpaid dividends. — Any deferred dividends from previous years paid during the reporting period (i.e. any deferred dividends paid that impacted the P&L for the reporting period). — Interest payments made in relation to debt instruments. — Any other payments made in relation to the intragroup transaction s that are reported in this template, e.g. charges on asset transfers. — Amount of total tops-ups if applicable, i.e. total additional money invested during the reporting period such as an additional payments on partly paid shares or increasing loan amount during the period (when reporting tops-ups as a separate item). |
| C0200 | Coupon/Interest rate | The interest or coupon rate as a percentage, if applicable. For variable interest rate, this shall include the reference rate and the interest rate above it. |
| C0210 | Comments | Comments shall contain: — a notification if the transaction has not been performed at arm’s length — any other relevant information regarding the economic nature of the operation |
S.36.02 – IGT – Derivatives
General comments:
This section relates to annual submission of information for individual entities.
This template shall report all (significant, very significant and transactions required to be reported in all circumstances) intra-group transactions between the individual undertaking and the mixed–activity insurance holding company and its related undertakings related to derivatives. Significant intra-group transactions related to derivatives shall be reported where the carrying amount of the derivative exceeds the threshold. These include, but are not limited to:
- — Interest rate contracts, including swaps, forward agreements, futures and options;
- — Foreign exchange contracts, including swaps, forward agreements, futures and options;
- — Contracts of a nature similar to those in points 1(a) to (e) and 2(a) to (d) of this Annex concerning other reference items or indices.
This template shall include intragroup transactions that were:
- — in-force at the start of the reporting period.
- — incepted during the reporting period and outstanding at the reporting date.
- — incepted and expired/matured during the reporting period.
Where two or more transactions between entities of the group which, from an economic perspective, contribute to the same risk, or, serve the same purpose/objective or are temporally connected in a plan, they shall be considered as a single economic operation.
As such each transaction which is part of a single economic operation shall be reported whenever collectively they are at or above the corresponding threshold for significant intra-group transactions, even though individually the transactions fall below the threshold.
Any element added to significant intragroup transactions shall be reported as a separate intragroup transaction, even if the element in its own right falls below the significant threshold limit. For example, if an undertaking increases the initial loan amount to another related undertaking the addition to the loan shall be recorded as a separate item with its issue date as the date of the addition.
Where the transaction value is different for two transacting parties (e.g. a EUR10m transaction between A and B where A records EUR10m but B only receive EUR9,5 m because of transactions costs, of say EUR0,5 m has been expensed) the template shall record the maximum amount as the transaction amount, in this case EUR10m.
Indirect transactions shall be defined as any transaction shifting risk exposures between entities within the group including but not limited to transactions with special purpose vehicle, collective investment undertakings, ancillary entities or unregulated entities; or entities outside of the group but ultimately risk exposure is brought back or stays within the group. Where there is a chain of related intragroup transactions (e.g. A invests in B and B invests in C), this transaction shall be reported as an indirect transaction. Therefore A to C transaction shall be reported and the comments shall mention the intermediary step. In the case of a waterfall of transactions, e. g. if ‘A’-> ‘B’ -> ‘C’-> ‘D’ where both ‘B’ and ‘C’ are both in the group but unregulated entities, this transaction shall also be reported.
| ITEM | INSTRUCTIONS | |
| C0010 | ID of intragroup transaction | Unique internal identification code for each intragroup transaction. It shall be consistent over time. |
| C0020 | Investor/buyer name | Name of the entity that is investing/buying the derivative, or the counterparty with the long position. For swaps the payer is the payer of the fixed rate that receives the floating rate. |
| C0030 | Identification code of the investor/buyer | The unique identification code attached to the investor/buyer/transferee by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0031 | Type of code of the investor/buyer | Type of ID Code used for the ‘Identification code of the investor/buyer’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| NC0040 | Sector of the investor/buyer | If the investor/buyer is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the investor/buyer is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| C0050 | Issuer/Seller name | Name of the entity that is issuing/selling the derivative, or the counterparty with the short position. For swaps the receiver, receives the fixed rates and pays the floating rate. |
| C0060 | Identification code of the issuer/seller | The unique identification code attached to the investor/buyer/transferee by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0061 | Type of code of the issuer/seller | Type of ID Code used for the ‘Identification code of the issuer/seller’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| NC0070 | Financial sector of the issuer/seller | If the issuer/seller is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the issuer/seller is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| NC0080 | Indirect transactions | If reported intragroup transaction is part of an indirect transaction (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in the cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of an indirect transaction, indicate No. |
| NC0090 | Single economic operation | If the reported intragroup transaction is part of single economic operation (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in the cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of single economic operation, indicate No. |
| NC0100 | ID Code of the instrument | This is the identification code of the instrument (capital, debt etc.) between the two counterparties identified using the following priority: — ISO 6166 code of ISIN when available — Other recognised codes (e.g.: CUSIP, Bloomberg Ticker, Reuters RIC) — Code attributed by the undertaking, when the options above are not available. This code shall be consistent over time. This may be different from the intragroup transaction code provided in cell C0010. |
| NC0101 | ID Code Type of the instrument | Type of ID Code used for the ‘ID Code of the instrument’ item. One of the options in the following closed list shall be used: 1 – ISO 6166 for ISIN code 2 – CUSIP (The Committee on Uniform Securities Identification Procedures number assigned by the CUSIP Service Bureau for U.S. and Canadian companies) 3 – SEDOL (Stock Exchange Daily Official List for the London Stock Exchange) 4 – WKN (Wertpapier Kenn-Nummer, the alphanumeric German identification number) 5 – Bloomberg Ticker (Bloomberg letters code that identify a company’s securities) 6 – BBGID (The Bloomberg Global ID) 7 – Reuters RIC (Reuters instrument code) 8 – FIGI (Financial Instrument Global Identifier) 9 – Other code by members of the Association of National Numbering Agencies 99 – Code attributed by the undertaking |
| NC0110 | Type of instrument | Identify the transaction type. The following closed list shall be used: 1 – Derivatives – futures 2 – Derivatives – forwards 3 – Derivatives – options 4 – Derivatives – others 5 – Guarantees – credit protection 6 – Guarantees – others 7 – Swaps 8 – Others A repurchase agreement shall be considered as cash transaction plus forward contract. |
| NC0120 | Type of protection | Identify the transaction type. The following closed list shall be used: 1 – credit default 2 – interest rate 3 – currency 4 – others |
| NC0130 | Purpose of the instrument | Describe use of derivative (micro/macro hedge, efficient portfolio management). Micro hedge refers to derivatives covering a single financial instrument, forecasted transaction or liability. Macro hedge refers to derivatives covering a set of financial instruments, forecasted transactions or liabilities. The following closed list shall be used: 1 – Micro hedge 2 – Macro hedge 3 – Matching assets and liabilities cash-flows 4 – Efficient portfolio management, other than ‘Matching assets and liabilities cash-flows’ 5 – Others |
| NC0140 | Starting date | Identify the ISO 8601 (yyyy-mm-dd) code of the date of the transaction/trade of the derivative contract. For rolled contracts use the initial trade date. |
| NC0150 | Maturity date | Identify the ISO 8601 (yyyy-mm-dd) code of the contractually defined date of close of the derivative contract, whether at maturity date, expiring date for options (European or American), etc. |
| NC0160 | Currency of transaction | Identify the ISO 4217 alphabetic code of the currency in which the transaction took place. |
| NC0170 | Notional amount | The amount covered or exposed to the derivative at the reporting date, i.e. the closing balance, reported in the reporting currency of the group. For futures and options, corresponds to contract size multiplied by the number of contracts. For swaps and forwards, corresponds to the contract amount. Where a transaction has matured/expired during the reporting period before the reporting date, the notional amount at the reporting date shall be zero. |
| NC0180 | Carrying amount | Value of the derivative at the reporting date as reported in the balance sheet of the entity. Where a transaction has matured/expired during the reporting period before the reporting date, the carrying amount at the reporting date shall be the maximum carrying amount of the derivatives before the maturity of the transaction. |
| NC0190 | Value of collateral | Value of the collateral pledged on reporting date (zero if derivative has been closed) if applicable. |
| NC0200 | Identification code Asset/Liability underlying the derivative | ID Code of the asset or liability underlying the derivative contract. This item is to be provided for derivatives that have a single underlying instrument or index in the undertaking’s portfolio. An index is considered a single instrument and shall be reported. Identification code of the instrument underlying the derivative using the following priority: — ISO 6166 code of ISIN when available — Other recognised codes (e.g.: CUSIP, Bloomberg Ticker, Reuters RIC) — Code attributed by the undertaking, when the options above are not available, and shall be consistent over time — ‘Multiple assets/liabilities’, if the underlying assets or liabilities are more than one If the underlying is an index, then the code of the index shall be reported. |
| NC0201 | Type of code Asset/Liability underlying the derivative | Type of ID Code used for the ‘Identification code Asset/Liability underlying the derivative’ item. One of the options in the following closed list shall be used: 1 – ISO 6166 for ISIN code 2 – CUSIP (The Committee on Uniform Securities Identification Procedures number assigned by the CUSIP Service Bureau for U.S. and Canadian companies) 3 – SEDOL (Stock Exchange Daily Official List for the London Stock Exchange) 4 – WKN (Wertpapier Kenn-Nummer, the alphanumeric German identification number) 5 – Bloomberg Ticker (Bloomberg letters code that identify a company’s securities) 6 – BBGID (The Bloomberg Global ID) 7 – Reuters RIC (Reuters instrument code) 8 – FIGI (Financial Instrument Global Identifier) 9 – Other code by members of the Association of National Numbering Agencies 99 – Code attributed by the undertaking. This option shall also be used for the cases of ‘Multiple assets/liabilities’ and indexes |
| NC0210 | Counterparty name for which credit protection is purchased | Name of the counterparty for which protection has been purchased for its default. |
| NC0220 | Swap delivered interest rate (for buyer) | Interest rate delivered under the swap contract (only for Interest rate swaps). |
| NC0230 | Swap received interest rate (for buyer) | Interest rate received under the swap contract (only for Interest rate swaps). |
| NC0240 | Swap delivered currency (for buyer) | Identify the ISO 4217 alphabetic code of the currency of the swap price (only for currency swaps). |
| C0250 | Swap received currency (for buyer) | Identify the ISO 4217 alphabetic code of the currency of the swap notional amount (only for currency swaps). |
| C0260 | Revenues stemming from derivatives | Net revenues stemming from the investment or the purchase of derivatives. Following the IFRS based P&L, both realized and unrealized results are expected here. The amounts should be filed with their clean value (in comparison to QRT S. 09.01. SII). Interests will be reported in S. 36.05 IGT P&L. |
| C0270 | Comments | Comments shall contain: — a notification if the transaction has not been performed at arm’s length — any other relevant information regarding the economic nature of the operation |
S.36.03 – IGT – Off-balance sheet and contingent liabilities
General comments:
This template relates to information insurance and reinsurance undertakings shall provide at least annually.
This template shall report all (significant, very significant and transactions required to be reported in all circumstances) intragroup transactions between entities in scope of group supervision related to off-balance sheet guarantees.
These include, but not limited to:
- — Off- balance sheet guarantees;
- — undrawn credit facilities
- — assets purchased under outright forward purchase agreements (currency or other)
- — asset sale and repurchase agreements as referred to in Article 12(3) and (5) of Directive 86/635/EEC
- — Contingent liabilities
This template shall include intragroup transactions that were:
- — in-force at the start of the reporting period.
- — incepted during the reporting period and outstanding at the reporting date.
- — incepted and expired/matured during the reporting period.
Where two or more transactions between entities of the group which, from an economic perspective, contribute to the same risk, or, serve the same purpose/objective or are temporally connected in a plan, they shall be considered as a single economic operation.
As such each transaction which is part of a single economic operation shall be reported whenever collectively they are at or above the corresponding threshold for significant intra-group transactions, even though individually the transactions fall below the threshold.
Any element added to significant intragroup transactions shall be reported as a separate intragroup transaction, even if the element in its own right falls below the significant threshold limit. For example, if an undertaking increases the initial loan amount to another related undertaking the addition to the loan shall be recorded as a separate item with its issue date as the date of the addition.
Where the transaction value is different for two transacting parties (e.g. a EUR10m transaction between A and B where A records EUR10m but B only receive EUR9,5 m because of transactions costs, of say EUR0,5 m has been expensed) the template shall record the maximum amount as the transaction amount, in this case EUR10m.
Indirect transactions shall be defined as any transaction shifting risk exposures between entities within the group including but not limited to transactions with special purpose vehicle, collective investment undertakings, ancillary entities or unregulated entities; or entities outside of the group but ultimately risk exposure is brought back or stays within the group. Where there is a chain of related intragroup transactions (e.g. A invests in B and B invests in C), this transaction shall be reported as an indirect transaction. Therefore A to C transaction shall be reported and the comments shall mention the intermediary step. In the case of a waterfall of transactions, e. g. if ‘A’-> ‘B’ -> ‘C’-> ‘D’ where both ‘B’ and ‘C’ are both in the group but unregulated entities, this transaction shall also be reported.
| ITEM | INSTRUCTIONS | |
| C0010 | ID of intragroup transaction | Unique internal identification code for each intragroup transaction. It shall be consistent over time. |
| C0020 | Provider name | Name of the entity that is providing the off-balance guarantee. |
| C0030 | Identification code of the provider | The unique identification code attached to the provider by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code will be provided by the financial conglomerate. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0031 | Type of code of the provider | Type of ID Code used for the ‘Identification code of the provider’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0040 | Financial sector of the provider | If the provider is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the provider is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| C0050 | Beneficiary name | Name of the entity that is benefiting from the off-balance sheet guarantee. |
| C0060 | Identification code of the beneficiary | The unique identification code attached to the beneficiary by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0061 | Type of code of the beneficiary | Type of ID Code used for the ‘Identification code of the beneficiary’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0070 | Financial sector of the beneficiary | If the beneficiary is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the beneficiary is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| C0080 | Indirect transactions | If reported intragroup transaction is part of an indirect transaction (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of an indirect transaction, indicate No. |
| C0090 | Single economic operation | If the reported intragroup transaction is part of single economic operation (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of single economic operation, indicate No |
| C0100 | Transaction type | Identify the type of transaction. The following closed list shall be used: 1 – guarantees 2 – commitment 3 – letter of credit 4 – undrawn credit facilities 5 – assets purchased under outright forward purchase agreements (currency or other); 6 – asset sale and repurchase agreements as referred to in Article 12(3) and (5) of Directive 86/635/EEC; 7 – Contingent liabilities 8 – other; |
| C0110 | Transaction issue date | Identify the ISO 8601 (yyyy-mm-dd) code of the date when the transaction/issue takes effect. |
| C0120 | Expiry date of agreement/contract underlying transaction | Where applicable, identify the ISO 8601 (yyyy-mm-dd) code of the date when the agreement/contract ceases. If the expiry date is perpetual use "9999-12-31". |
| C0130 | Currency of transaction | Identify the ISO 4217 alphabetic code of the currency in which the transaction took place. If there are two currencies involved, please identify both in cell Comments C0200 |
| C0140 | Trigger event | Where applicable, brief description of event that would trigger the transaction/payment/liability/none e.g. event that would result in a contingent liability occurring. |
| C0150 | Value of transaction at starting date | Value of the transaction or collateral pledged at the starting date, recognised on the Solvency II balance sheet. |
| C0160 | Value of transaction at reporting date | Value of the transaction, collateral pledged recognised on the Solvency II balance sheet at the reporting date. |
| C0170 | Maximum possible value of contingent liabilities | Maximum possible value, if possible, regardless of their probability (i.e. future cash flows required to settle the contingent liability over the lifetime of that contingent liability, discounted at the relevant risk-free interest rate term structure) of contingent liabilities included in SII balance sheet. Sum of all possible cash flows if events triggering guarantees were all to happen in relation to guarantees provided by the ‘provider’ (cell C0020) to the ‘beneficiary’ (Cell C0050) to guarantee the payment of the liabilities due by the undertaking (includes letter of credit, undrawn committed borrowing facilities). This item shall not include amounts already reported under C0150 and C0160. |
| C0180 | Value of guaranteed assets | Value of the guaranteed asset for which the guarantees are received. Sectoral valuation principles may be relevant in this case. |
| C0190 | Revenues stemming from the off-balance sheet items | Revenues associated to the provisions of the off-balance sheet transaction. |
| C0200 | Comments | Comments shall contain: — a notification if the transaction has not been performed at arm’s length — any other relevant information regarding the economic nature of the operation |
S.36.04 – IGT – Insurance and Reinsurance
General comments:
This section relates to annual submission of information for individual entities. This template shall report all (significant, very significant and transactions required to be reported in all circumstances) intra-group transactions between entities in scope of the group supervision related to internal insurance and reinsurance within the group.
These include, but not limited to:
- — Insurance contracts of entities within the scope of the group with insurance companies within the scope of the group
- — reinsurance treaties between related undertakings of a group;
- — facultative reinsurance between related undertakings of a group; and
- — any other transaction that results in transferring underwriting risk (insurance risk) between related undertakings of a group.
This template shall include intragroup transactions that were:
- — in-force at the start of the reporting period.
- — incepted during the reporting period and outstanding at the reporting date.
- — incepted and expired/matured during the reporting period.
Where two or more transactions between entities of the group which, from an economic perspective, contribute to the same risk, or, serve the same purpose/objective or are temporally connected in a plan, they shall be considered as a single economic operation.
As such each transaction which is part of a single economic operation shall be reported whenever collectively they are at or above the corresponding threshold for significant intra-group transactions, even though individually the transactions fall below the threshold.
Any element added to significant intragroup transactions shall be reported as a separate intragroup transaction, even if the element in its own right falls below the significant threshold limit. For example, if an undertaking increases the initial loan amount to another related undertaking the addition to the loan shall be recorded as a separate item with its issue date as the date of the addition.
Where the transaction value is different for two transacting parties (e.g. a EUR10m transaction between A and B where A records EUR10m but B only receive EUR9,5 m because of transactions costs, of say EUR0,5 m has been expensed) the template shall record the maximum amount as the transaction amount, in this case EUR10m.
Indirect transactions shall be defined as any transaction shifting risk exposures between entities within the group including but not limited to transactions with special purpose vehicle, collective investment undertakings, ancillary entities or unregulated entities; or entities outside of the group but ultimately risk exposure is brought back or stays within the group. Where there is a chain of related intragroup transactions (e.g. A invests in B and B invests in C), this transaction shall be reported as an indirect transaction. Therefore A to C transaction shall be reported and the comments shall mention the intermediary step. In the case of a waterfall of transactions, e. g. if ‘A’-> ‘B’ -> ‘C’-> ‘D’ where both ‘B’ and ‘C’ are both in the group but unregulated entities, this transaction shall also be reported.
| ITEM | INSTRUCTIONS | |
| C0010 | ID of the intragroup transaction | Unique internal identification code for each intragroup transaction. It shall be consistent over time. |
| C0020 | Insured party/Cedent name | Legal name of the entity that has transferred the underwriting risk to another insurer or reinsurer within the group. |
| C0030 | Identification code for insured party/cedent | The unique identification code attached to the investor/buyer/transferee by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits. |
| C0031 | Type of code for insured party/cedent | Type of ID Code used for the ‘Identification code for investor/lender’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0040 | Sector of the insured party/cedent | If the insured party/cedent is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the insured party/cedent is not part of financial sector within the meaning ofArticle 2 (8) indicate: ‘other undertaking of the group’. |
| C0050 | Insurer/Reinsurer name | Legal name of the insurer/reinsurer to whom the underwriting risk has been transferred. |
| C0060 | Identification code of insurer/reinsurer | The unique identification code attached to the investor/buyer/transferee by this order of priority: — Legal Entity Identifier (LEI) mandatory if existing; — Specific code in case of absence of LEI code. Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0061 | Type of code of insurer/reinsurer | Type of ID Code used for the ‘Identification code of insurer/reinsurer’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0070 | Sector of the insurer/reinsurer | Financial sector of the provider within the meaning of Article 2(8) of Directive 2002/87/EC, i.e., ‘insurance and reinsurance sector’. This column has been kept to be aligned with the templates used at financial conglomerate level. |
| C0080 | Indirect transactions | If reported intragroup transaction is part of an indirect transaction (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of an indirect transaction, indicate No. |
| C0090 | Single economic operation | If the reported intragroup transaction is part of single economic operation (cf. General comments supra),report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of single economic operation, indicate No. |
| C0100 | Type of transaction | Identify the type of contract/treaty. The following closed list shall be used: 1 – insurance 2 – reinsurance |
| C0110 | Transaction | If C0100 = reinsurance, then identify the type of reinsurance contract/treaty. The following closed list shall be used: 1 – quota share 2 – variable quota share 3 – surplus 4 – excess of loss (per event and per risk) 5 – excess of loss (per risk) 6 – excess of loss (per event) 7 – excess of loss ‘back-up’ (protection against follow-on events which certain catastrophes can cause such as flooding or fire) 8 – excess of loss with basis risk 9 – reinstatement cover 10 – aggregate excess of loss 11 – unlimited excess of loss 12 – stop loss 13 – other proportional treaties 14 – other non-proportional treaties 15 – Financial reinsurance 16 – Facultative proportional 17 – Facultative non-proportional Other proportional treaties (code 13) and Other non-proportional treaties (code 14) can be used for hybrid types of reinsurance treaties. |
| C0120 | Starting date | Identify the ISO 8601 (yyyy-mm-dd) code of the date of commencement of the specific reinsurance contract/treaty. |
| C0130 | Expiry date | Identify the ISO 8601 (yyyy-mm-dd) code of the expiry date of the specific reinsurance contract/treaty (i.e. the last date the specific reinsurance contract/treaty is in force). This item is not reported if there is no expiry date (for example, contract is continuous and ends by one of the parties giving notice). |
| C0140 | Currency of transaction | Identify the ISO 4217 alphabetic code of the currency of payments for the specific reinsurance contract/treaty. |
| C0150 | Maximum cover by transaction | For quota share or a surplus treaty, 100 % of the maximum amount that has been set for the entire contract/treaty is stated here (e.g. EUR10million). In case of unlimited cover ‘-1’ shall be filled in here. This item has to be reported in the currency of the transaction. |
| C0160 | Net Receivables | The amount resulting from: claims paid by the (re)insurer but not yet reimbursed by the (re)insurer + commissions to be paid by the (re)insurer + other receivables minus debts to the (re)insurer. Cash deposits are excluded and are to be considered as guarantees received. |
| C0170 | Total reinsurance recoverables | Total amount due from the reinsurer at the reporting date which include: Premium provision for part of the future reinsurance premium which has already been paid to the reinsurer; Claims provision for claims outstanding for insurer which have to be paid by the reinsurer; and/or Technical provisions for the amount reflecting the share of the reinsurer in the gross technical provisions. |
| C0180 | Reinsurance technical result (for reinsurance) | Reinsurance result (for reinsured entity): Total reinsurance commissions received by reinsured entity less Gross reinsurance premiums paid by reinsured entity plus Claims paid by reinsurer during the reporting period plus Total reinsurance recoverables at the end of the reporting period less Total reinsurance recoverables at the start of the reporting period. |
| C0190 | Premiums (for insurance) | Total amount of gross written premiums as defined in Article 1(11) of Delegated Regulation (EU) 2015/35. For annuities stemming from non-life this cell is not applicable. |
| C0200 | Claims (for insurance) | Total amount of gross claims paid during the year, including claims management expenses. |
| C0210 | Line of business | Identify the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, being reinsured. 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 29 – Insurance with profit participation 30 – Index–linked and unit–linked insurance 31 – Other life insurance 32 – Annuities stemming from non–life insurance contracts and relating to health insurance obligations 33 – Annuities stemming from non–life insurance contracts and relating to insurance obligations other than health insurance obligations 34 – Life reinsurance 35 – Health insurance 36 – Health reinsurance If a reinsurance arrangement covers more than one line of business, then select the most significant line of business from the list above. |
| C0220 | Comments | Comments shall contain: — a notification if the transaction has not been performed at arm’s length — any other relevant information regarding the economic nature of the operation |
S.36.05 – IGT – Profit and Loss
General comments:
This section relates to annual submission of information for individual entities.
This template shall report the P&L associated to all (significant, very significant and transactions required to be reported in all circumstances) intra-group transactions between entities in the scope of the group supervision or P&L transaction considered as significant or very significant intragroup transactions or transactions required to be reported in all circumstances. These include, but not limited to:
- — Fees;
- — Commissions;
- — Interests;
- — Dividends.
Intragroup outsourcing or internal cost sharing leading to significant intragroup transactions shall be reported.
Although interest, dividends are reported in S.36.01, S.36.02 they have to be reported additionally in S.36.05 P&L.
This template shall include intragroup transactions that were:
- — in-force at the start of the reporting period.
- — incepted during the reporting period and outstanding at the reporting date.
- — incepted and expired/matured during the reporting period.
Where two or more transactions between entities of the group which, from an economic perspective, contribute to the same risk, or, serve the same purpose/objective or are temporally connected in a plan, they shall be considered as a single economic operation.
As such each transaction which is part of a single economic operation shall be reported whenever collectively they are at or above the corresponding threshold for significant intra-group transactions, even though individually the transactions fall below the threshold.
Any element added to significant intragroup transactions shall be reported as a separate intragroup transaction, even if the element in its own right falls below the significant threshold limit. For example, if an undertaking increases the initial loan amount to another related undertaking the addition to the loan shall be recorded as a separate item with its issue date as the date of the addition.
Where the transaction value is different for two transacting parties (e.g. a EUR10m transaction between A and B where A records EUR10m but B only receive EUR9,5 m because of transactions costs, of say EUR0,5 m has been expensed) the template shall record the maximum amount as the transaction amount, in this case EUR10m.
Indirect transactions shall be defined as any transaction shifting risk exposures between entities within the group including but not limited to transactions with special purpose vehicle, collective investment undertakings, ancillary entities or unregulated entities; or entities outside of the group but ultimately risk exposure is brought back or stays within the group. Where there is a chain of related intragroup transactions (e.g. A invests in B and B invests in C), this transaction shall be reported as an indirect transaction. Therefore A to C transaction shall be reported and the comments shall mention the intermediary step. In the case of a waterfall of transactions, e. g. if ‘A’-> ‘B’ -> ‘C’-> ‘D’ where both ‘B’ and ‘C’ are both in the group but unregulated entities, this transaction shall also be reported.
| ITEM | INSTRUCTIONS | |
| C0010 | ID of intragroup transaction | Unique internal identification code for each intragroup transaction. It shall be consistent over time. In case related to transactions already mentioned, used the same ID. |
| C0020 | Revenue side name | Legal name of the entity that received the revenue from another entity within the group. |
| C0030 | Identification code for revenue side | The unique identification code attached to the entity that received the revenue by this order of priority: — Legal Entity Identifier (LEI) mandatory if existent; — Specific code in case of absence of LEI code Specific code: — For EEA regulated undertakings other than insurance and reinsurance undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits |
| C0031 | Type of code for revenue side | Type of ID Code used for the ‘Identification code for revenue side’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0040 | Sector of the revenue side | If the entity that received the revenue from another entity within the group is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the entity that received the revenue from another entity within the group is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| C0050 | Expense side name | Legal name of the entity that provided the revenue to another entity within the group. |
| C0060 | Identification code for expense side | The unique identification code attached the entity that provided the revenue by this order of priority if existent: — Legal Entity Identifier (LEI); — Specific code Specific code: — For EEA regulated undertakings within the group: identification code used in the local market, attributed by the undertaking’s competent supervisory authority; — For non-EEA undertakings and non-regulated undertakings within the group, identification code shall be provided by the group. When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits. |
| C0061 | Type of code for expense side | Type of ID Code used for the ‘Identification code for expense side’ item. One of the options in the following closed list shall be used: 1 – LEI 2 – Specific code |
| C0070 | Sector of the expense side | If the entity that provided the revenue to another entity within the group is part of financial sector within the meaning of Article 2(8) of Directive 2002/87/EC, indicate: ‘banking sector’, ‘insurance and reinsurance sector’‘investments services sector’. If the entity that provided the revenue to another entity within the group is not part of financial sector within the meaning of Article 2(8) indicate: ‘other undertaking of the group’. |
| C0080 | Indirect transactions | If reported intra-group transaction is part of an indirect transaction (cf. General comments supra), report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intra-group transaction is not part of an indirect transaction, indicate NO. |
| C0090 | Single economic operation | If the reported intragroup transaction is part of single economic operation (cf. General comments supra),report the ‘ID of intragroup transaction’ (C0010) of the related transaction in this cell. If more than two transactions are related, the ID code of the first related transaction needs to be reported as a reference to link all interconnected transactions. If the reported intragroup transaction is not part of single economic operation, indicate No. |
| C0100 | Type of transaction | Identify the type of the P&L transaction. The following closed list shall be used: 1 – Fees; 2 – Commission; 3 – Interest; 4 – Dividends; 5 – Costs or revenues; 6 – Others |
| C0110 | Transaction | When applicable, instrument to which the revenue or the expense are linked. The following closed list shall be used: 1 – Bonds/Debt; 2 – Equity type; 3 – Other assets transfer 4 – Derivative; 5 – Off-balance sheet item; 6 – Intragroup outsourcing, internal cost sharing or rental agreement; 7 – Others |
| C0120 | Currency of transaction | Identify the ISO 4217 alphabetic code of the currency of payments for the specific P&L transaction. |
| C0130 | Transaction date | Identify the ISO 8601 (yyyy-mm-dd) code of the date of commencement of the P&L transaction. |
| C0140 | Amount | Amount of the transaction or price as per agreement/contract, reported in the reporting currency of the group. |
| C0150 | Comments | Comments shall contain: — a notification if the transaction has not been performed at arm’s length — any other relevant information regarding the economic nature of the operation. |
As set out in Article 223 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the takin-up and pursuit of the business of Insurance and Reinsurance.
ANNEX III
Instructions regarding reporting templates for groups
This Annex contains additional instructions in relation to the templates included in Annex I of this Regulation. The first column of the tables identifies the items to be reported by identifying the columns and rows as showed in the template in Annex I.
Templates which shall be filled in in accordance with the instructions of the different sections of this Annex are referred to as ‘this template’ throughout the text of the Annex.
All references to Articles should refer to Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II) unless otherwise specified.
S.01.01 – Content of the submission
General comments:
This section relates to the quarterly and annual submission of information for groups, ring fenced funds, matching portfolios and remaining part at group level.
When a special justification is needed the explanation is not to be submitted within the reporting template but shall be part of the dialogue with the national competent authorities.
When a template is submitted only with zeros or without figures, then S.01.01 should indicate one of the ‘non reported’ options.
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