EIOPA · 1944
Own Funds (OF)
- Regulation
- (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
- Article
- 75
- Topic
- Own Funds (OF)
- Submitted
- 2019-06-03
- Answered
- 2020-10-02
Question
Whether the undertaking for leased assets (used for own purposes) can use valuation method consistent with annex to IFRS 16 regulation described in paragraphs 34 and 35? (COMMISSION REGULATION (EU) 2017/1986)Does EIOPA expect that value of leased asset will by equal to liabilities connected to leasing contract (no impact for own funds)?
Answer
IFRS 16 needs to be applied in a way to reflect market-consistent valuation in line with Art. 75 of the Solvency II Directive (fair value).
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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