EIOPA · 2822
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- N/A
- Topic
- Reporting Templates
- Submitted
- 2023-10-09
- Answered
- 2023-12-21
Question
Climate change related transition risk – KPI R0020/C0010 refers to the proportion of the Solvency II value exposed to physical risk in relation to property. Can you please confirm whether Right of Use (RoU) properties (e.g., leased office buildings for own use (not held for investment purposes)) should be included in the definition of Property?
Background
As the ITS says “The identification of properties exposed to physical risk should be consistent with the identification made, in C0190 Item Title in S.06.02.” then it is our assumption that all Property investments, including Right Of Use properties, that are included in S.06.02 should be included in the physical risk KPI calculation.
Answer
Right of use properties should be included in the definition of property for the physical risk KPI.
EIOPA answer: The right of use properties should be included in the definition of property for the physical risk KPI. See also Q&A 2611 and 2782.
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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