EIOPA · 1397
1397
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2018-11-13
- Answered
- 2019-10-11
Question
From the examples given in "EIOPA-17-403: EIOPA Explanatory notes on reporting templates - Variation Analysis templates" it appears that Technical flows i.e. "Premium Written during the period", "Claims and Benefits during the period", "Expenses (excluding investment expenses" and "Technical flows related to reinsurance during the period" as reported in S.29.03 are based on actual receipt and payments in cash during the reporting period.
Since Technical Provisions are based on future/projected cashflows therefore, it will not be possible for actual cash payments and receipts during the reporting period to be used in Technical Provisions other than to revise the estimate of projected cashflows. Can you please confirm if our understanding is correct?
Answer
Your understanding is correct. However, please note that regarding the premiums the written premiums during the period (premiums actually due to be received in that year) should be reported.
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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