EIOPA · 126
126
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2014-09-10
- Answered
- 2019-10-31
Question
Under Group IFRS index-linked and unit-linked assets are reported on multiple lines, whereas under "Solvency II value" column, they are reported as one line. The instructions state “Where an item does not exist under [IFRS or] local GAAP it should be filled with nil, however the items existing under [IFRS or] local GAAP but reported differently should be reclassified as far as it is possible to follow the Solvency II balance sheet split”. (“[ ]” added by author for emphasis).
The question is, when mapping the Group IFRS to the “Statutory accounts value” column is it your expectation that Groups will reclassify the index-linked and unit-linked assets from many lines as reported under Group IFRS to one line in the "Statutory accounts value" column?
Answer
In this case it is expected that a reclassification between the different assets lines under statutory accounts and the line of Solvency II balance-sheet of “the Assets held in index-linked and unit linked contracts” is made. This is, in both columns the value of the assets should be reported in one single line.
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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