EIOPA · 1726
1726
- Regulation
- (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
- Article
- 117
- Submitted
- 2018-11-22
- Answered
- 2019-09-12
Question
In Article 117 in the COMMISSION DELEGATED REGULATION (EU) 2015/35 it says that "For segments 1, 4 and 5 set out in Annex II the adjustment factor for non-proportional reinsurance shall be equal to 80 %. For all other segments set out in Annex the adjustment factor for non-proportional reinsurance shall be equal to 100 %." Can a company use the 80% facot if for segment 4 has both non-propotional and propotional reinsurance or it must have only non-proportional reinsurance?
Answer
The application of the adjustment factor of 80 % for non-proportional reinsurance for segment 4 set out in Annex II does not depend on the existence/non-existence of proportional reinsurance.
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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