EIOPA · 1367
1367
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2017-09-15
- Answered
- 2019-10-08
Question
In the LOG file it is stated that “The definition of written premiums is consistent with the definition of “premium receivables”.” Our understanding is that the definition of premium receivable is different under Solvency II than under IFRS. More precisely, under Solvency II a premium becomes a premium receivable only when the premium is over-due. Is this the intended definition of premium (both written and earned) for this QRT?
Answer
As stated in the general comments the intention is to capture written premiums in the given year, i.e. the premiums actually due to be received in that year, regardless of the coverage period. The sentence at stake “The definition of written premiums is consistent with the definition of “premium receivables” seems to be a mistake.
This will be further discussed as part of the “EIOPA Explanatory notes on reporting templates - Variation Analysis templates” currently under consultation and amended in a future revision if needed.https://eiopa.europa.eu/Pages/Supervision/Insurance/Calls-for-comments-…
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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