EIOPA · 3222

Solvency Capital Requirement (SCR)

Name: Solvency Capital Requirement (SCR): EIOPA Q&A — EU Financial Regulatory Q&A
Creator: European Insurance and Occupational Pensions Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 84
Topic: Solvency Capital Requirement (SCR)
Submitted: 2025-01-09
Answered: 2025-01-09

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Question

Could you please confirm that the Solvency Capital Requirement (SCR) for investments in (un-listed) loan-financed property shall be calculated as property-risk based on the market-value of the property, rather than the market value of the investment.

Background

https://www.eiopa.europa.eu/qa-regulation/questions-and-answers-database/1857_en and the referenced articles supports the above interpretation - but a clear yes/no would still be appreciated.

Answer

This question has been rejected because the issue it deals with is already explained or addressed in Article 84(2a) of the Delegated Regulation 2015/35 and because the matter it refers to has been answered in Q&A 1857. The look-through approach applies as this is an indirect exposures to market risk other than collective investment undertakings.

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