EIOPA · 1176
1176
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2017-06-28
- Answered
- 2019-09-27
Question
Question 927 in the EIOPA Q&A states that changes in other technical provisions is taken from the Insurance Directive and is effectively the change in all actuarial liabilities for Life insurance firms.
Can EIOPA please confirm that the definition of other technical provisions in S.05.02 is different to the definition of other technical provisions that appear within S.02.01 (balance sheet). Other technical provisions within the balance sheet are those liabilities that are not otherwise classified in the Solvency II lines of business.
Can EIOPA please confirm whether or not consistency in the reporting of the changes in other technical provisions should be applied between S.05.02 and S.05.01. Also, if this definition should be applied to S.05.01 then, in the absence of quarterly IFRS reporting, how this should be applied to the quarterly S.05.01 QRT?
Answer
We confirm that the definition of other technical provisions in S.05.02 is different to the definition of other technical provisions in S.02.01. In S.05.02 the definition is from GAAP perspective while in S.02.01 it is from SII perspective.
In absence of quarterly IFRS/GAAP reporting, changes in other technical provisions in S.05.01 should be used as proxies.
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.
Similar Q&As
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.