LegalizeCommission Implementing Regulation (EU) 2023/895 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 procedures, formats and templates for the disclosure by insurance and reinsurance undertakings of their report on their solvency and financial condition and repealing Implementing Regulation (EU) 2015/2452 (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 | |
| Basic own funds before deduction for participations in other financial sector as laid down in Article 68 of Delegated Regulation (EU) 2015/35 | Basic own funds before deduction for participations in other financial sector as laid down in Article 68 of Delegated Regulation (EU) 2015/35 | Basic own funds before deduction for participations in other financial sector as laid down in Article 68 of Delegated Regulation (EU) 2015/35 |
| R0010/C0010 | Ordinary share capital (gross of own shares) – total | This is the total ordinary share capital, both held directly and indirectly (before deduction of own shares). This is the total ordinary share capital of the undertaking that fully satisfies the criteria for Tier 1 or Tier 2 items. Any ordinary share capital that does not fully satisfy the criteria shall be treated as preference shares capital and classified accordingly notwithstanding their description or designation. |
| R0010/C0020 | Ordinary share capital (gross of own shares) – tier 1 unrestricted | This is the amount of paid up ordinary share capital that meets unrestricted Tier 1 criteria. |
| R0010/C0040 | Ordinary share capital (gross of own shares) – tier 2 | This is the amount of called up ordinary share capital that meets the criteria for Tier 2. |
| R0030/C0010 | Share premium account related to ordinary share capital – total | The total share premium account related to ordinary share capital of the undertaking that fully satisfies the criteria for Tier 1 or Tier 2 items. |
| R0030/C0020 | Share premium account related to ordinary share capital – tier 1 unrestricted | This is the amount of the share premium account related to ordinary shares that meets the criteria for Tier 1 unrestricted because it relates to ordinary share capital treated as unrestricted Tier 1. |
| R0030/C0040 | Share premium account related to ordinary share capital – tier 2 | This is the amount of the share premium account related to ordinary shares that meets the criteria for Tier 2 because it relates to ordinary share capital treated as Tier 2. |
| R0040/C0010 | Initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings – total | The initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings that fully satisfies the criteria for Tier 1 or Tier 2 items. |
| R0040/C0020 | Initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings – tier 1 unrestricted | This is the amount of the initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings that meets the criteria for Tier 1 unrestricted. |
| R0040/C0040 | Initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings – tier 2 | This is the amount of the initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings that meetsTier 2 criteria. |
| R0050/C0010 | Subordinated mutual member accounts – total | This is the total amount of subordinated mutual member accounts that fully satisfy the criteria for Tier 1 restricted, Tier 2 or Tier 3 items. |
| R0050/C0030 | Subordinated mutual member accounts – tier 1 restricted | This is the amount of subordinated mutual member accounts that meet the criteria for Tier 1 restricted. |
| R0050/C0040 | Subordinated mutual member accounts – tier 2 | This is the amount of subordinated mutual member accounts that meet the criteria for Tier 2. |
| R0050/C0050 | Subordinated mutual member accounts – tier 3 | This is the amount of subordinated mutual member accounts that meet the criteria for Tier 3. |
| R0070/C0010 | Surplus funds – total | This is the total amount of surplus funds that fall under Article 91(2) of Directive 2009/138/EC. |
| R0070/C0020 | Surplus funds – tier 1 unrestricted | These are the surplus funds that fall under Article 91(2) of Directive 2009/138/EC and that meet the criteria for Tier 1, unrestricted items. |
| R0090/C0010 | Preference shares – total | This is the total amount of preference shares issued by the undertaking that fully satisfy the criteria for Tier 1 restricted, Tier 2 or Tier 3 items. |
| R0090/C0030 | Preference shares – tier 1 restricted | This is the amount of the preference shares issued by the undertaking that meet the criteria for Tier 1 restricted. |
| R0090/C0040 | Preference shares – tier 2 | This is the amount of the preference shares issued by the undertaking that meet the criteria for Tier 2. |
| R0090/C0050 | Preference shares – tier 3 | This is the amount of the preference shares issued by the undertaking that meet the criteria for Tier 3. |
| R0110/C0010 | Share premium account related to preference shares – total | The total share premium account related to preference shares capital of the undertaking that fully satisfies the criteria for Tier 1 restricted, Tier 2 or Tier 3 items. |
| R0110/C0030 | Share premium account related to preference shares – tier 1 restricted | This is the amount of the share premium account that relates to preference shares that meets the criteria for Tier 1 restricted items because it relates to preference shares treated as Tier 1 restricted items. |
| R0110/C0040 | Share premium account related to preference shares – tier 2 | This is the amount of the share premium account that relates to preference shares that meets the criteria for Tier 2 because it relates to preference shares treated as Tier 2. |
| R0110/C0050 | Share premium account related to preference shares – tier 3 | This is the amount of the share premium account that relates to preference shares that meets the criteria for Tier 3 because it relates to preference shares treated as Tier 3. |
| R0130/C0010 | Reconciliation reserve – total | The total reconciliation reserve represents reserves (e.g. retained earnings), net of adjustments (e.g. ring–fenced funds). It results mainly from differences between accounting valuation and valuation as referred to in Article 75 of Directive 2009/138/EC. |
| R0130/C0020 | Reconciliation reserve – tier 1 unrestricted | The reconciliation reserve represents reserves (e.g. retained earnings), net of adjustments (e.g. ring–fenced funds). It results mainly from differences between accounting valuation and valuation as referred to in Directive 2009/138/EC. |
| R0140/C0010 | Subordinated liabilities – total | This is the total amount of subordinated liabilities issued by the undertaking. |
| R0140/C0030 | Subordinated liabilities – tier 1 restricted | This is the amount of subordinated liabilities issued by the undertaking that meet the criteria for Tier 1 restricted items. |
| R0140/C0040 | Subordinated liabilities – tier 2 | This is the amount of subordinated liabilities issued by the undertaking that meet the criteria for Tier 2. |
| R0140/C0050 | Subordinated liabilities – tier 3 | This is the amount of subordinated liabilities issued by the undertaking that meet the criteria for Tier 3. |
| R0160/C0010 | An amount equal to the value of net deferred tax assets – total | This is the total amount of net deferred tax assets of the undertaking. |
| R0160/C0050 | An amount equal to the value of net deferred tax assets – tier 3 | This is the amount of net deferred tax assets of the undertaking that meet the tier 3 classification criteria. Net deferred taxes should appear if there is an excess of deferred tax assets over the deferred tax liabilities. If the deferred tax liabilities are higher than the deferred tax assets, then the net deferred tax assets should be equal to 0. |
| R0180/C0010 | Other own fund items approved by the supervisory authority as basic own funds not specified above | This is the total of basic own fund items not identified above and that received supervisory approval. |
| R0180/C0020 | Other own fund items approved by the supervisory authority as basic own funds not specified above – tier 1 unrestricted | This is the amount of basic own fund items not identified above that meet Tier 1 unrestricted criteria and that received supervisory approval. |
| R0180/C0030 | Other own fund items approved by the supervisory authority as basic own funds not specified above – Tier 1 restricted | This is the amount of basic own fund items not identified above which meet the criteria for Tier 1, restricted items and that received supervisory approval. |
| R0180/C0040 | Other own fund items approved by the supervisory authority as basic own funds not specified above – tier 2 | This is the amount of basic own fund items not identified above that meet the criteria for Tier 2 and that received supervisory approval. |
| R0180/C0050 | Other own fund items approved by the supervisory authority as basic own funds not specified above – tier 3 | This is the amount of basic own fund items not identified above that meet the criteria for Tier 3 and that received supervisory approval. |
| Own funds from the financial statements that should not be represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds | Own funds from the financial statements that should not be represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds | Own funds from the financial statements that should not be represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds |
| R0220/C0010 | Own funds from the financial statements that shall not be represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds – total | This is the total amount of own funds items from financial statements that are not represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds. These own fund items are either: (a) items that appear in the lists of own fund items, but fail to meet the classification criteria or the transitional provisions; or (b) items intended to perform the role of own funds that are not on the list of own fund items and have not been approved by the supervisory authority, and do not appear on the balance sheet as liabilities. Subordinated liabilities which do not count as basic own funds shall not be disclosed here, but on the balance sheet (template S.02.01) as subordinated liabilities that do not count as basic own funds. |
| Deductions | ||
| R0230/C0010 | Deduction for participations in financial and credit institutions – total | This is the total deduction for participations in financial and credit institutions in accordance with Article 68 of Delegated Regulation (EU) 2015/35 |
| R0230/C0020 | Deduction for participations in financial and credit institutions – tier 1 unrestricted | This is the amount of the deduction for participations in financial and credit institutions that are deducted from tier 1 unrestricted in accordance with Article 68 of Delegated Regulation (EU) 2015/35. |
| R0230/C0030 | Deduction for participations in financial and credit institutions – tier 1 restricted | This is the amount of the deduction for participations in financial and credit institutions that are deducted from tier 1 restricted in accordance with Article 68 of Delegated Regulation (EU) 2015/35. |
| R0230/C0040 | Deduction for participations in financial and credit institutions – tier 2 | This is the amount of the deduction for participations in financial and credit institutions that are deducted from tier 2 in accordance with Article 68 of Delegated Regulation (EU) 2015/35. |
| R0230/C0050 | Deductions for participations in financial and credit institutions – tier 3 | This is the amount of the deduction for participations in financial and credit institutions that are deducted from tier 3 in accordance with Article 68 of Delegated Regulation (EU) 2015/35. |
| Total basic own funds after deductions | Total basic own funds after deductions | Total basic own funds after deductions |
| R0290/C0010 | Total basic own funds after deductions | This is the total amount of basic own fund items after deductions. |
| R0290/C0020 | Total basic own funds after deductions – tier 1 unrestricted | This is the amount of basic own fund items after deductions that meet the criteria for Tier 1 unrestricted items. |
| R0290/C0030 | Total basic own funds after deductions – tier 1 restricted | This is the amount of basic own fund items after adjustments that meet the criteria for Tier 1 restricted items. |
| R0290/C0040 | Total basic own funds after deductions – tier 2 | This is the amount of basic own fund items after adjustments that meet the criteria for Tier 2. |
| R0290/C0050 | Total basic own funds after deductions – tier 3 | This is the amount of basic own fund items after adjustments that meet the criteria for Tier 3. |
| Ancillary own funds | ||
| R0300/C0010 | Unpaid and uncalled ordinary share capital callable on demand – total | This is the total amount of issued ordinary share capital that has not been called up or paid up but that is callable on demand. |
| R0300/C0040 | Unpaid and uncalled ordinary share capital callable on demand – tier 2 | This is the amount of issued ordinary share capital that has not been called up or paid up but that is callable on demand that meets the criteria for Tier 2. |
| R0310/C0010 | Unpaid and uncalled initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual – type undertakings, callable on demand–total | This is the total amount of initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings that has not been called up or paid up but that is callable on demand. |
| R0310/C0040 | Unpaid and uncalled initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings, callable on demand – tier 2 | This is the amount of initial funds, members’ contributions or the equivalent basic own fund item for mutual and mutual–type undertakings that has not been called up or paid up but that is callable on demand that meets the criteria for Tier 2. |
| R0320/C0010 | Unpaid and uncalled preference shares callable on demand – total | This is the total amount of preference shares that have not been called up or paid up but that are callable on demand. |
| R0320/C0040 | Unpaid and uncalled preference shares callable on demand – tier 2 | This is the amount of preference shares that have not been called up or paid up but that are callable on demand that meet the criteria for Tier 2. |
| R0320/C0050 | Unpaid and uncalled preference shares callable on demand – tier 3 | This is the amount of preference shares that have not been called up or paid up but that are callable on demand that meet the criteria for Tier 3 |
| R0330/C0010 | A legally binding commitment to subscribe and pay for subordinated liabilities on demand – total | This is the total amount of legally binding commitments to subscribe and pay for subordinated liabilities on demand. |
| R0330/C0040 | A legally binding commitment to subscribe and pay for subordinated liabilities on demand – tier 2 | This is the amount of legally binding commitments to subscribe and pay for subordinated liabilities on demand that meet the criteria for Tier 2. |
| R0330/C0050 | A legally binding commitment to subscribe and pay for subordinated liabilities on demand – tier 3 | This is the amount of legally binding commitments to subscribe and pay for subordinated liabilities on demand that meet the criteria for Tier 3. |
| R0340/C0010 | Letters of credit and guarantees under Article 96 point (2) of Directive 2009/138/EC– total | This is the total amount of letters of credit and guarantees that are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC. |
| R0340/C0040 | Letters of credit and guarantees under Article 96 point (2) of Directive 2009/138/EC– tier 2 | This is the amount of letters of credit and guarantees that are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC that meet the criteria for Tier 2. |
| R0350/C0010 | Letters of credit and guarantees other than under Article 96 point (2) of Directive 2009/138/EC– total | This is the total amount of letters of credit and guarantees that satisfy criteria for Tier 2 or Tier 3, other than those that are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC. |
| R0350/C0040 | Letters of credit and guarantees other than under Article 96 point (2) of Directive 2009/138/EC – tier 2 | This is the amount of letters of credit and guarantees that meet the criteria for Tier 2, other than those which are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC. |
| R0350/C0050 | Letters of credit and guarantees other than under Article 96 point (2) of Directive 2009/138/EC– tier 3 | This is the amount of letters of credit and guarantees that meet the criteria for Tier 3, other than those which are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC. |
| R0360/C0010 | Supplementary members calls under first subparagraph of Article 96 point (3) of Directive 2009/138/EC– total | This is the total amount of any future claims which mutual or mutual–type associations of ship owners with variable contributions solely insuring risks listed in classes 6, 12 and 17 in Part A of Annex I may have against their members by way of a call for supplementary contributions, within the following 12 months. |
| R0360/C0040 | Supplementary members calls under first subparagraph of Article 96 point (3) of Directive 2009/138/EC – tier 2 | This is the amount of any future claims which mutual or mutual–type associations of ship owners with variable contributions solely insuring risks listed in classes 6, 12 and 17 in Part A of Annex I may have against their members by way of a call for supplementary contributions, within the following 12 months. |
| R0370/C0010 | Supplementary members calls – other than under first subparagraph of Article 96 point (3) of Directive 2009/138/EC | This is the total amount of any future claims which mutual or mutual–type associations with variable contributions may have against their members by way of a call for supplementary contributions, within the following 12 months, other than those described in the first subparagraph of Article 96 point (3) of Directive 2009/138/EC. |
| R0370/C0040 | Supplementary members calls – other than under first subparagraph of Article 96 point (3) of Directive 2009/138/EC – tier 2 | This is the amount of any future claims which mutual or mutual–type associations of with variable contributions may have against their members by way of a call for supplementary contributions within the following 12 months, other than those described in the first subparagraph of Article 96 point (3) of Directive 2009/138/EC that meet the criteria for Tier 2. |
| R0370/C0050 | Supplementary members calls – other than under first subparagraph of Article 96 point (3) of Directive 2009/138/EC – tier 3 | This is the amount of any future claims which mutual or mutual–type associations with variable contributions may have against their members by way of a call for supplementary contributions within the following 12 months, other than those described in the first subparagraph of Article 96 point (3) of the Framework Directive 2009/138/EC that meet the criteria for Tier 3. |
| R0390/C0010 | Other ancillary own funds – total | This is the total amount of other ancillary own funds. |
| R0390/C0040 | Other ancillary own funds – tier 2 | This is the amount of other ancillary own funds that meet criteria for Tier 2. |
| R0390/C0050 | Other ancillary own funds – tier 3 | This is the amount of other ancillary own funds that meet criteria for Tier 3. |
| R0400/C0010 | Total ancillary own funds | This is the total amount of ancillary own fund items. |
| R0400/C0040 | Total ancillary own funds tier 2 | This is the amount of ancillary own fund items that meet the criteria for Tier 2. |
| R0400/C0050 | Total ancillary own funds – tier 3 | This is the amount of ancillary own fund items that meet the criteria for Tier 3. |
| Available and eligible own funds | ||
| R0500/C0010 | Total available own funds to meet the SCR | This is the sum of all basic own fund items and ancillary own fund items that meet the tier 1, tier 2 and tier 3 criteria and that are therefore available to meet the SCR. |
| R0500/C0020 | Total available own funds to meet the SCR – tier 1 unrestricted | This the sum of all basic own fund items that meet the criteria to be included in Tier 1 unrestricted items and that are therefore available to meet the SCR. |
| R0500/C0030 | Total available own funds to meet the SCR – tier 1 restricted | This the sum of all basic own fund items that meet the criteria to be included in Tier 1 restricted items and that are therefore available to meet the SCR. |
| R0500/C0040 | Total available own funds to meet the SCR – tier 2 | This is the sum of all basic own fund items, after adjustments, and ancillary own fund items that meet the criteria to be included in Tier 2 and that are therefore available to meet the SCR. |
| R0500/C0050 | Total available own funds to meet the SCR – tier 3 | This is the sum of all basic own fund items, after adjustments, and ancillary own fund items that meet the criteria to be included in Tier 3 and that are therefore available to meet the SCR. |
| R0510/C0010 | Total available own funds to meet the MCR | This is the sum of all basic own fund items, after adjustments, that meet the tier 1 and tier 2 criteria and that are therefore available to meet the MCR. |
| R0510/C0020 | Total available own funds to meet the MCR – tier 1 unrestricted | This is the sum of all basic own fund items, after adjustments, that meet the criteria to be included in Tier 1 unrestricted items and that are therefore available to meet the MCR. |
| R0510/C0030 | Total available own funds to meet the MCR – tier 1 restricted | This is the sum of all basic own fund items, after adjustments, that meet the criteria to be included in Tier 1 restricted items and that are therefore available to meet the MCR. |
| R0510/C0040 | Total available own funds to meet the MCR – tier 2 | This is the sum of all basic own fund items, after adjustments, that meet the criteria to be included in Tier 2 and that are therefore available to meet the MCR. |
| R0540/C0010 | Total eligible own funds to meet the SCR | This is the total amount of available own funds that are eligible to cover the solvency capital requirement (‘SCR’). |
| R0540/C0020 | Total eligible own funds to meet the SCR – tier 1 unrestricted | This is the amount of unrestricted Tier 1 own fund items that are eligible to meet the SCR. |
| R0540/C0030 | Total eligible own funds to meet the SCR – tier 1 restricted | This is the amount of restricted Tier 1 own fund items that are eligible to meet the SCR. |
| R0540/C0040 | Total eligible own funds to meet the SCR – tier 2 | This is the amount of Tier 2 own fund items that are eligible to meet the SCR. |
| R0540/C0050 | Total eligible own funds to meet the SCR – tier 3 | This is the amount of Tier 3 own fund items that are eligible to meet the SCR. |
| R0550/C0010 | Total eligible own funds to meet the MCR | This is the total amount of own fund items that are eligible to meet the MCR. |
| R0550/C0020 | Total eligible own funds to meet the MCR – tier 1 unrestricted | This is the amount of unrestricted Tier 1 own fund items that are eligible to meet the MCR. |
| R0550/C0030 | Total eligible own funds to meet the MCR – tier 1 restricted | This is the amount of restricted Tier 1 own fund items that are eligible to meet the MCR. |
| R0550/C0040 | Total eligible own funds to meet the MCR – tier 2 | This is the amount of Tier 2 basic own fund items that are eligible to meet the MCR. |
| R0580/C0010 | SCR | This is the total SCR of the undertaking as a whole and shall correspond to the SCR disclosed on the relevant SCR template. |
| R0600/C0010 | MCR | This is the MCR of the undertaking and shall correspond to the total MCR disclosed in the relevant MCR template. |
| R0620/C0010 | Ratio of eligible own funds to SCR | This is the solvency ratio calculated as the total eligible own funds to meet the SCR divided by the SCR amount. |
| R0640/C0060 | Ratio of eligible own funds to MCR | This is the MCR ratio calculated as the total eligible own funds to meet the MCR divided by the MCR amount. |
| Reconciliation Reserve | ||
| R0700/C0060 | Excess of assets over liabilities | This is the excess of assets over liabilities as disclosed in the Solvency 2 balance sheet. |
| R0710/C0060 | Own shares (held directly and indirectly) | This is the amount of own shares held by the undertaking, both directly and indirectly. |
| R0720/C0060 | Foreseeable dividends, distributions and charges | These are the dividends, distributions and charges foreseeable by the undertaking. As soon as a dividend is foreseeable it is considered in full in the quarterly reporting. As soon as a dividend is foreseeable, the full amount of dividend shall be included in the quarterly reporting at one time, which means that it shall not be added incrementally from quarter to quarter. A dividend is foreseeable when the payment becomes likely considering the dividend payment history of the company, the business development throughout the year, the reference date of the assessment and, where appropriate, other relevant circumstances. The dividend shall be reported as foreseeable until it has been approved at the annual general meeting (not until it has been paid). |
| R0730/C0060 | Other basic own fund items | These are the basic own fund items included in Article 69, points (a)(i) to (v), of Delegated Regulation (EU) 2015/35, and Articles 72(a) and 76(a) of that Regulation, as well as those basic own fund items approved by the supervisory authority in accordance with Article 79 of that Regulation. |
| R0740/C0060 | Adjustment for restricted own fund items in respect of matching adjustment portfolios and ring fenced funds | This is the total amount of the adjustment to the reconciliation reserve due to the existence of restricted own fund items in respect of ring–fenced funds and matching portfolios. |
| R0760/C0060 | Reconciliation reserve – total | This the reconciliation reserve of the undertaking, before deduction for participations in other financial sector as laid down in Article 68 of Delegated Regulation (EU) 2015/35. |
| R0770/C0060 | Expected profits included in future premiums (EPIFP) – Life business | The reconciliation reserve includes an amount of the excess of assets over liabilities that corresponds to the expected profit in future premiums (EPIFP). This cell represents that amount gross of reinsurance and taxes (i.e. without considering their impact) for the life business of the undertaking. |
| R0780/C0060 | Expected profits included in future premiums (EPIFP) – Non– life business | The reconciliation reserve includes an amount of the excess of assets over liabilities that corresponds to the expected profit in future premiums (EPIFP). This cell represents that amount gross of reinsurance and taxes (i.e. without considering their impact) for the non–life business of the undertaking. |
| R0790/C0060 | Total Expected profits included in future premiums (EPIFP) | This is the total amount calculated as expected profits included in future premiums. |
S.25.01 – Solvency Capital Requirement – for undertakings on Standard Formula
General comments:
This section relates to the annual disclosure of information for individual entities.
| ITEM | INSTRUCTIONS | |
| R0010–R0050/C0110 | Gross solvency capital requirement | Amount of the gross capital charge for each risk module, as calculated using the standard formula. The difference between the net and the gross SCR is the consideration of the future discretionary benefits as laid down in Article 206 of Delegated Regulation (EU) 2015/35. This amount shall fully consider diversification effects as laid down in Article 304 of Directive 2009/138/EC, where applicable. These cells include the allocation of the adjustment due to the aggregation of the nSCR of the RFF/MAP at entity level. |
| R0060/C0110 | Gross solvency capital requirement – Diversification | Amount of the diversification effects between Basic SCR of gross risk modules, including diversification within each risk module, due to the application of the correlation matrix defined in Annex IV of Directive 2009/138/EC. This amount should be disclosed as a negative value. |
| R0070/C0110 | Gross solvency capital requirement – Intangible assets risk | The future discretionary benefits referred to in Article 205 of Delegated Regulation (EU) 2015/35 for intangible assets risk is zero under standard formula. |
| R0100/C0110 | Gross solvency capital requirement – Basic Solvency Capital Requirement | Amount of the basic solvency capital requirements, before the consideration of future discretionary benefits in accordance with Article 205 of Delegated Regulation (EU) 2015/35, as calculated using the standard formula. This amount shall fully consider the diversification effects referred to in Article 304 of Directive 2009/138/EC. This cell includes the allocation of the adjustment due to the aggregation of the nSCR of the RFF/MAP at entity level. This amount shall be calculated as a sum of the gross capital charges for each risk module within the standard formula, including adjustment for diversification effect within standard formula |
| R0030/C0090 | USP – Life underwriting risk | Identifies which undertaking specific parameters have been used in each risk module. One of the options on the following closed list should be used: — Increase in the amount of annuity benefits — None |
| R0040/C0090 | USP – Health underwriting risk | Identifies which undertaking specific parameters have been used in each risk module. At least one of the options on the following closed list shall be used: — Increase in the amount of annuity benefits — Standard deviation for NSLT health premium risk referred to in Title I Chapter V Section 12 of Delegated Regulation (EU) 2015/35 — Standard deviation for NSLT health gross premium risk referred to in Title I Chapter V Section 12 of Delegated Regulation (EU) 2015/35 — Adjustment factor for non–proportional reinsurance — Standard deviation for NSLT health reserve risk referred to in Title I Chapter V Section 12 of Delegated Regulation (EU) 2015/35 — None If more than one specific parameter is used, report them separated by comas. |
| R0050/C0090 | USP – Non life underwriting risk | Identifies which undertaking specific parameters have been used in each risk module. At least one of the options on the following closed list should be used: — Standard deviation for non–life premium risk — Standard deviation for non–life gross premium risk — Adjustment factor for non–proportional reinsurance — Standard deviation for non–life reserve risk — None |
| R0010, R0030, R0040, R0050/C0120 | Simplifications | Identifies the risk sub–modules of each risk module for which a simplified calculation method has been used. If simplified calculation methods for more than one risk sub–module have been used within one risk module, report them separated by comas. |
| Calculation of Solvency Capital Requirement | Calculation of Solvency Capital Requirement | Calculation of Solvency Capital Requirement |
| R0130/C0100 | Operational risk | Amount of the capital requirements for operational risk module as calculated using the standard formula. |
| R0140/C0100 | Loss–absorbing capacity of technical provisions | Amount of the adjustment for loss–absorbing capacity of technical provisions calculated in accordance with the standard formula. This amount should be disclosed as a negative value. |
| R0150/C0100 | Loss–absorbing capacity of deferred taxes | Amount of the adjustment for loss–absorbing capacity of deferred taxes calculated in accordance with the standard formula. This amount should be disclosed as a negative value. |
| R0160/C0100 | Capital requirement for business operated in accordance with Art. 4 of Directive 2003/41/EC | Amount of the capital requirement, calculated in accordance with the rules stated in Article 17 of Directive 2003/41/EC, for ring–fenced funds relating to pension business operated under Article 4 of Directive 2003/41/EC to which transitional measures are applied. This item is to be disclosed only during the transitional period. |
| R0200/C0100 | Solvency capital requirement excluding capital add–on | Amount of the total diversified SCR before any capital add–on. |
| R0210/C0100 | Capital add–on already set | Amount of capital add–on set by the NSA at the reporting reference date. It does not include capital add–ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. During the transitional phase, this item shall only be disclosed if the Member State decided it to be compulsory in accordance with Article 51(2) of Directive 2009/138/EC. Otherwise, the amount of the capital add–on should be split among the nSCR of the risk modules. The precise procedure should be previously agreed with the NSA. |
| R0211/C0100 | of which, capital add–ons already set – Article 37(1) Type a | Amount of capital add–on set by the NSA by the reporting reference date. It does not include capital add–ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0212/C0100 | of which, capital add–ons already set – Article 37(1) Type b | Amount of capital add–on set by the NSA by the reporting reference date. It does not include capital add–ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0213/C0100 | of which, capital add–ons already set – Article 37(1) Type c | Amount of capital add–on set by the NSA by the reporting reference date. It does not include capital add–ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0214/C0100 | of which, capital add–ons already set – Article 37(1) Type d | Amount of capital add–on that set by the NSA by the reporting reference date. It does not include capital add–ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0220/C0100 | Solvency capital requirement | Amount of the Solvency Capital Requirement. |
| Other information on SCR | Other information on SCR | Other information on SCR |
| R0400/C0100 | Capital requirement for duration–based equity risk sub–module | Amount of the capital requirement for duration–based equity risk sub–module. |
| R0410/C0100 | Total amount of notional Solvency Capital Requirements for remaining part | Amount of the notional SCRs of remaining part when undertaking has RFF. |
| R0420/C0100 | Total amount of Notional Solvency Capital Requirements for ring-fenced funds | Amount of the sum of notional SCRs of all ring–fenced funds when undertaking has RFF (other than those related to business operated in accordance with Article 4 of Directive 2003/41/EC (transitional)). |
| R0430/C0100 | Total amount of Notional Solvency Capital Requirements for matching adjustment portfolios | Amount of the sum of notional SCRs of all matching adjustment portfolios. |
| R0440/C0100 | Diversification effects due to RFF nSCR aggregation for Article 304 | Amount of the adjustment for a diversification effect between ring–fenced funds (‘RFF’) under Article 304 of Directive 2009/138/EC and the remaining part. It shall be equal to the difference between the sum of the nSCR for each RFF/matching adjustment portfolio (‘MAP’)/remaining part (‘RP’) and the total SCR. |
| Approach to tax rate | Approach to tax rate | Approach to tax rate |
| R0590/C0109 | Approach based on average tax rate | One of the options in the following closed list shall be used: 1 – Yes 2 – No 3 – Not applicable as LAC DT is not used (in this case R0640 to R0690 are not applicable) See EIOPA Guidelines on loss-absorbing capacity of technical provisions and deferred taxes (EIOPA-BoS-14/177)9 |
| Calculation of adjustment for loss-absorbing capacity of deferred taxes | Calculation of adjustment for loss-absorbing capacity of deferred taxes | Calculation of adjustment for loss-absorbing capacity of deferred taxes |
| R0640/C0130 | LAC DT | Amount of loss-absorbing capacity of deferred taxes, as defined in Article 207 of Delegated Regulation (EU) 2015/35. The LAC amount of this cell should be the same as the value in the cell R0150/C0100 in S.25.01. |
| R0650/C0130 | LAC DT justified by reversion of deferred tax liabilities | Amount of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35 justified by reversion of deferred tax liabilities |
| R0660/C0130 | LAC DT justified by reference to probable future taxable economic profit | Amount of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35 justified by reference to probable future taxable economic profit |
| R0670/C0130 | LAC DT justified by carry back, current year | Amount of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by profits from past years. Amount of the losses allocated to the next year. |
| R0680/C0130 | LAC DT justified by carry back, future years | Amount of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by profits from past years. Amount of losses allocated to the years after next year. |
| R0690/C0130 | Maximum LAC DT | Maximal amount of LAC DT that could be available, before the assessment whether the increase in net deferred tax assets can be used for the purposes of the adjustment, as provided for in Article 207(2) of Delegated Regulation (EU) 2015/35 |
S.25.05 – Solvency Capital Requirement – for undertakings using an internal model (partial or full)
General comments:
This Annex contains instructions in relation to the templates included in Annex I of this Regulation. The first column of the following table identifies the items to be reported by identifying the columns and lines as shown in the template in Annex I.
This Annex relates to opening and annual submission of information for individual entities, ring fenced-funds, matching adjustment portfolios and remaining part.
This template shall be reported based on availability according to the internal model architecture and risk profile when possible with reasonable effort. The data to be reported shall be agreed between national supervisory authorities and insurance and reinsurance undertakings.
The purpose of this template is to collect data on an aggregate level and show diversification benefits between separate risk modules. All values shall be reported before any tax effects unless otherwise stated.
For undertakings using a partial internal model all rows for C0010 refer to the amount of the capital charge for each component regardless of the method of calculation (either standard formula or partial internal model), after the adjustments for loss-absorbing capacity of technical provision and/or deferred taxes when they are embedded in the component calculation.
For the components Loss absorbing capacity of technical provisions and/or deferred taxes when reported as a separate component it should be the amount of the loss-absorbing capacity (these amounts should be reported as negative values)
For components calculated using the standard formula this cell represents the gross nSCR. For components calculated using the partial internal model, this represents the value considering the future management actions which are embedded in the calculation, but not those which are modelled as a separate component.
These amounts shall fully consider the diversification effects referred to in Article 304 of Directive 2009/138/EC, where applicable.
Where applicable, these cells shall not include the allocation of the adjustment due to the aggregation of the nSCR of the RFF/MAP at entity level.
For the undertakings, reporting at the level of the whole undertaking, under a partial internal model to which the adjustment due to the aggregation of the nSCR of RFF/MAP is applicable, where the entity has MAP or RFF (except those under the scope of Article 304 of Directive 2009/138/EC) the nSCR at risk module level and the loss-absorbing capacity (LAC) of technical provisions and deferred taxes to be reported shall be calculated as follows:
- — where the undertaking applies the full adjustment due to the aggregation of the nSCR of the RFF/MAP at entity level: the nSCR shall be calculated as if no RFF and the LAC shall be calculated as the sum of the LAC across all RFF/MAP and remaining part;
- — where the undertaking applies the Simplification at risk sub-module level to aggregate the nSCR of the RFF/MAP at entity level, the nSCR and LAC shall be calculated considering a direct summation at sub-module level method;
- — where the undertaking applies the Simplification at risk module level to aggregate the nSCR of the RFF/MAP at entity level, the nSCR and LAC shall be calculated considering a direct summation at module level method.
| ITEM | INSTRUCTIONS | |
| C0010/R0020 | Total diversification | Amount of the diversification effects between risk modules. This amount shall be reported as a negative value. This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0030 | Total diversified risk before tax | Diversified capital charges before tax. This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0040 | Total diversified risk after tax | Diversified capital charges after tax. This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0070 | Total market & credit risk | Same as S.26.08.01 C0010/R0070 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0080 | Market & Credit risk – diversified | Same as S.26.08.01 C0010/R0080 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0190 | Credit event risk not covered in market & credit risk | Same as S.26.08.01 C0010/R0190 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0200 | Credit event risk not covered in market & credit risk – diversified | Same as S.26.08.01 C0010/R0200 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0270 | Total Business risk | Same as S.26.08.01 C0010/R0270 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0280 | Total Business risk – diversified | Same as S.26.08.01 C0010/R0280 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0310 | Total Net Non-life underwriting risk | Same as S.26.08.01 C0010/R0310 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0320 | Total Net Non-life underwriting risk – diversified | Same as S.26.08.01 C0010/R0320 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0400 | Total Life & Health underwriting risk | Same as S.26.08.01 C0010/R0400 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0410 | Total Life & Health underwriting risk – diversified | Same as S.26.08.01 C0010/R0410 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0480 | Total Operational risk | Same as S.26.08.01 C0010/R0480 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0490 | Total Operational risk – diversified | Same as S.26.08.01 C0010/R0490 This is part of the minimum dataset that shall be publicly disclosed. |
| C0010/R0500 | Other risk | Same as S.26.08.01 C0010/R0500 This is part of the minimum dataset that shall be publicly disclosed. |
| C0070/R0020 to R0080, R0190 to R0200, R0270, R0280, R0310, R0320, R0400, R0410, R0510, R0520, R0530 | Amount modelled | For each component this cell represents the amount calculated in accordance with the partial internal model. This column is not relevant for full internal model. |
| C0090/R0020 to R0080, R0190 to R0200, R0270, R0280, R0310, R0320, R0400, R0410, R0510, R0520, R0530 | USP | For those components calculated in accordance with the standard formula where undertaking specific parameters have been applied, one of the following options shall be used: For life underwriting risk: — Increase in the amount of annuity benefits — None For health underwriting risk: — Increase in the amount of annuity benefits — Standard deviation for NSLT health premium risk — Standard deviation for NSLT health gross premium risk — Adjustment factor for non–proportional reinsurance — Standard deviation for NSLT health reserve risk — None For non–life underwriting risk: — Standard deviation for non–life premium risk — Standard deviation for non–life gross premium risk — Adjustment factor for non–proportional reinsurance — Standard deviation for non–life reserve risk — None In any case, if more than one specific parameter is used, report them separated by comas. This column is not relevant for full internal model. |
| C0120/R0020 to R0080, R0190 to R0200, R0270, R0280, R0310, R0320, R0400, R0410, R0510, R0520, R0530 | Simplifications | For those components calculated in accordance with the standard formula where simplifications have been applied, the risk sub–modules of each risk module for which a simplified calculation method has been used should be identified. If simplified calculation methods for more than one risk sub–module have been used within one risk module, report them separated by comas. This column is not relevant for full internal model. |
| R0110/C0100 | Total undiversified components | Sum of all components. |
| R0060/C0100 | Diversification | The total amount of the diversification among components reported in C0030. This amount does not include diversification effects inside each component, which shall be embedded in the values reported in C0030. This amount should be reported as negative value. |
| R0120/C0100 | Adjustment due to RFF/MAP nSCR aggregation | When applicable, adjustment to correct the bias on SCR calculation due to aggregation of RFF/MAP nSCR at risk module level. Applicable only for partial internal models. |
| R0160/C0100 | Capital requirement for business operated in accordance with Art. 4 of Directive 2003/41/EC | Amount of the capital requirement, calculated in accordance with the rules stated in Art. 17 of Directive 2003/41/EC, for ring-fenced funds relating to pension business operated under Art. 4 of Directive 2003/41/EC to which transitional measures are applied. This item is to be reported only during the transitional period. |
| R0200/C0100 | Solvency capital requirement, excluding capital add-ons | Amount of the total diversified SCR before any capital add-on. |
| R0210/C0100 | Capital add–ons already set | Amount of capital add–on that had been set at the reporting reference date. It doesnot include capital add–ons set between that date and the submission of the data to the supervisory authority. |
| R0211/C0100 | of which, capital add-ons already set – Article 37(1) of Directive 2009/138/EC – Type (a) | Amount of type (a) capital add-on calculated in accordance with Article 37(1) of Directive 2009/138/EC and that had been set at the reporting reference date. It does not include capital add-ons set between that date and the submission of the data to the supervisory authority. |
| R0212/C0100 | of which, capital add-ons already set – Article 37(1) of Directive 2009/138/EC – Type (b) | Amount of type (b) capital add-on that has been calculated in accordance with Article 37(1) of Directive 2009/138/EC and that had been set at the reporting reference date. It does not include capital add-ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0213/C0100 | of which, capital add-ons already set – Article 37(1) of Directive 2009/138/EC – Type c | Amount of type (c) capital add-on calculated in accordance with Article 37(1) of Directive 2009/138/EC and that had been set at the reporting reference date. It shall not include capital add-ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0214/C0100 | of which, capital add-ons already set – Article 37(1) of Directive 2009/138/EC – Type (d) | Amount of type (d) capital add-on that has been calculated in accordance with Article 37(1) of Directive 2009/138/EC and that had been set at the reporting reference date. It shall not include capital add-ons set between that date and the submission of the data to the supervisory authority, nor any set after the submission of the data. |
| R0220/C0100 | Solvency Capital Requirement | Overall capital requirement including capital add-ons |
| Other information on SCR | Other information on SCR | Other information on SCR |
| R0300/C0100 | Amount/estimate of the overall loss-absorbing capacity of technical provisions | Amount/Estimate of the overall adjustment for loss-absorbing capacity of technical provisions, including the part embedded in the components and the part reported as a single component. This amount shall be reported as a negative amount. |
| R0310/C0100 | Amount/estimate of the loss absorbing capacity for deferred taxes | Amount/Estimate of the overall adjustment for deferred taxes, including the part embedded in the components and the part reported as a single component. This amount shall be reported as a negative amount. |
| R0400/C0100 | Capital requirement for duration-based equity risk sub-module | Amount of the capital requirement for duration-based equity risk sub-module. Applicable only for partial internal models. |
| R0410/C0100 | Total amount of notional Solvency Capital Requirements for remaining part | Amount of the notional SCRs of remaining part when undertaking has RFF. |
| R0420/C0100 | Total amount of Notional Solvency Capital Requirements for ring-fenced funds | Amount of the sum of notional SCRs of all ring-fenced funds when undertaking has RFF (other than those related to business operated in accordance with Article 4 of Directive 2003/41/EC (transitional)). |
| R0430/C0100 | Total amount of Notional Solvency Capital Requirements for matching adjustment portfolios | Amount of the sum of notional SCRs of all matching adjustment portfolios This item does not have to be reported when reporting SCR calculation at RFF or matching adjustment portfolio level. |
| R0440/C0100 | Diversification effects due to RFF nSCR aggregation for Article 304 | Amount of the adjustment for a diversification effect between ring fenced funds under Article 304 of Directive 2009/138/EC and the remaining part where applicable. It shall be equal to the difference between the sum of the nSCR for each RFF/MAP/RP and the SCR reported in R0200/C0100. |
| R0450/C0100 | Method used to calculate the adjustment due to RFF nSCR aggregation | Method used to calculate the adjustment due to RFF nSCR aggregation. One of the following option shall be used: 1 – Full recalculation 2 – Simplification at risk sub-module level 3 – Simplification at risk module level 4 – No adjustment When the undertaking has no RFF (or have only RFF under Article 304 of Directive 2009/138/EC) it shall select option 4. Applicable only for partial internal models. |
| R0460/C0100 | Net future discretionary benefits | Amount of technical provisions without risk margin in relation to future discretionary benefits net of reinsurance. |
| Approach to tax rate if calculated under the standard formula | Approach to tax rate if calculated under the standard formula | Approach to tax rate if calculated under the standard formula |
| R0590/C0109 | Approach based on average tax rate | One of the options in the following closed list shall be used: 1 – Yes 2 – No |
| Calculation of adjustment for loss-absorbing capacity of deferred taxes if calculated under the standard formula | Calculation of adjustment for loss-absorbing capacity of deferred taxes if calculated under the standard formula | Calculation of adjustment for loss-absorbing capacity of deferred taxes if calculated under the standard formula |
| R0640/C0130 | Amount/estimate of LAC DT | Amount/estimate of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35. The LAC amount of this cell shall be the same as the value in the cell R0310/C0100 in S.25.05.01. |
| R0650/C0130 | Amount/estimate of LAC DT justified by reversion of deferred tax liabilities | Amount/estimate of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by reversion of deferred tax liabilities. |
| R0660/C0130 | Amount/estimate of LAC DT justified by reference to probable future taxable economic profit | Amount/estimate of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by reference to probable future taxable economic profit. |
| R0670/C0130 | Amount/estimate of LAC DT justified by carry back, current year | Amount/estimate of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by profits from past years. Amount of the losses allocated to the next year. |
| R0680/C0130 | Amount/estimate of LAC DT justified by carry back, future years | Amount/estimate of loss-absorbing capacity of deferred taxes, calculated in accordance with Article 207 of Delegated Regulation (EU) 2015/35, justified by profits from past years Amount of losses allocated to the years after next year. |
| R0690/C0130 | Amount/estimate of Maximum LAC DT | Maximum amount of loss-absorbing capacity of deferred taxes that could be available, before the assessment whether the increase in net deferred tax assets can be used for the purposes of the adjustment, as provided for in Article 207(2) of Delegated Regulation (EU) 2015/35. |
S.28.01 – Minimum Capital Requirement – Only life or only non–life insurance or reinsurance activity
General comments:
This section relates to the annual disclosure of information for individual entities.
In particular, S.28.01 is to be submitted by insurance and reinsurance undertakings other than insurance undertakings engaged in both life and non–life insurance activity. These undertakings shall submit S.28.02 instead.
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 (as defined in Article 1(11) of Delegated Regulation (EU) 2015/35). Amount of taxes or charges levied with premiums should be excluded from the written premiums.
All references to technical provisions address technical provisions after application of Long Term Guarantee measures and transitionals.
The calculation of MCR combines a linear formula with a floor of 25 % and a cap of 45 % of the SCR. The MCR is subject to an absolute floor depending on the nature of the undertaking (as defined in Article 129(1)(d) of Directive 2009/138/EC).
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