EIOPA · 1942

Valuation of Assets and Liabilities other than TPs

Name: Valuation of Assets and Liabilities other than TPs: EIOPA Q&A — EU Financial Regulatory Q&A
Creator: European Insurance and Occupational Pensions Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 75
Topic: Valuation of Assets and Liabilities other than TPs
Submitted: 2019-06-01
Answered: 2020-10-02

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Question

Could you please clarify if undertaking under local regulation (statutory accounting) is not required to valuate leased assets and liabilities (not present this elements in statutory balance sheet), must include leasing assets and liabilities in Solvency II MVBS?

Answer

In case the national competent authority agrees with the use of local accounting standards in line with Art. 75 of the Solvency II Directive, the recognition of lease assets and liabilities follow the local accounting standards.

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