EIOPA · 1181
1181
- Regulation
- (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
- Article
- 192, 42
- Submitted
- 2018-08-03
- Answered
- 2019-09-10
Question
Article 192 (2) defines "Recoverables" as"best estimate of amounts recoverable from the reinsurance arrangement or insurance securitisation and the corresponding debtors".
Are "Recoverables" adjusted to take account of expected losses due to default of a counterparty (as defined by Article 42 of Delegated Regulation) or not?
Answer
The term Recoverables referred to in Art. 192 (2) of Delegated Regulation (EU) 2015/35 should be the best estimate of amounts recoverable from the reinsurance arrangement or insurance securitisation and the corresponding debtors taking into account the counterparty default adjustment referred to in Art. 81 of Directive 2009/138/EC and Art. 42 of Delegated Regulation (EU) 2015/35.
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.