EIOPA · 2414
Technical Provisions (TPs)
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35 of SII Directive
- Topic
- Technical Provisions (TPs)
- Submitted
- 2022-04-04
- Answered
- 2022-10-21
Question
Legal requirement for all Insurers providing health insurance in Germany is to transfer specified amounts of the ageing reserve (Alterungsrückstellung) to a third party (new Insurer). Under new IFRS 9/17 accounting regime this will be recognized as premium cashflow given that transfer value is based on ageing reserve which is not claim related. For the purpose of consistency between IFRS 9/17 and SII reporting would it be acceptable to report transfer value related cash flow as part of Future Premiums instead of Future Benefits how is currently reported in QRT S.13?
Answer
EIOPA confirms that it is not acceptable to report transfer value related cash flow as part of Future Premiums instead of Future Benefits. In addition, S.13 is not required to be reported from an accounting perspective and there is no need to bring consistency between IFRS 9/17 and SII reporting.
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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