EIOPA · 3145
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Topic
- Reporting Templates
- Submitted
- 2024-08-27
- Answered
- 2024-10-25
Question
Within the ITS_reporting_AnnexII_solo instructions for this template, it notes the following: “Any business underwritten by an underwriting entity which is not underwritten under freedom to provide services shall be classified as business underwritten in the country in which the underwriting entity is established”. As reinsurance undertakings are assuming business from cedents and therefore not underwriting any business on a FOS basis (in spite of assuming business from European countries), can you please confirm that business shall be classified as written in Ireland (the country in which the underwriting entity is established)?
Background
To understand the reporting requirements for this form.
Answer
For the purposes of S.04.04 (location of underwriting), it is correct to classify this reinsurance business as written in Ireland. It is also expected that S.04.05 (location of risk) will be submitted, classifying the reinsurance business by the location of the cedent undertaking.
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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