EIOPA · 113

113

Regulation
Guidelines on submission of information to NCAs (Preparatory phase)
Article
73
Submitted
2014-09-04
Answered
2019-10-31
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Question

Can you confirm that solely reinsurance undertakings always use report MCR-B4A (not MCR-B4B for composites). Reasoning behind is that composites are those undertakings that have been authorised as composites under L1 Article 73(2) or (5), where reinsurance undertakings are not specified.

Answer

In fact a reinsurance undertaking may be a composite. In accordance with article 15 (5) in regard to reinsurance, authorisation shall be granted for non-life reinsurance activity, life reinsurance activity or all kinds of reinsurance activity. Reinsurance companies are not referred to in article 73 as there is no limitation for the pursuit of both activities.
View original on European Insurance and Occupational Pensions Authority ↗

This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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