EIOPA · 2390
Disclosure Templates
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- Article 35 of SII Directive
- Topic
- Disclosure Templates
- Submitted
- 2022-02-17
- Answered
- 2022-12-13
Question
With regards to S.04.01 Activity by Country can I confirm the approach below considering UKs exit from the EEA. Previously business underwritten through FPS by the undertaking (Ireland) into the UK was reported under C0020 and C0100. In 2021 UK is no longer part of the EEA, and so by definition FPS classification cannot apply (Freedom of Services as defined in the Solvency II Directive can only be performed in a Member State (Article 13 (9)).). As a consequence of the above should we then omit business underwritten by the undertaking into the UK from the QRT, or are we expected to report it under C0070 'Total business underwritten by all non-EEA branches', and C0110 if materiality threshold is met? We do not have a branch in the UK but it is unclear to us from previous Q&As if this is the expectation.
Background
Impact of Brexit on S.04.01
Answer
EIOPA confirms that the business underwritten by the undertaking into the UK is expected to be reported under C0070 'Total business underwritten by all non-EEA branches', and C0110 if materiality threshold is met.
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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