EIOPA · 334
334
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2016-01-19
- Answered
- 2019-09-17
Question
Our reinsurance company has a couple of life reinsurance treaties in portfolio, but tehnical provisions on gross and net basis for life business are less then 0,1% of total technical provisions. Is in this case possible to use proportionality principle and only report QRT for nonlife business?
Answer
All templates foreseen in the Technical standard should be reported if applicable. In this case, regardless of the materiality of the business the life business will need to be reported in the relevant templates. It is considered that in this case the “embedded” proportionality will apply as in principle the life templates should not require a huge burden to fill in given the scope and materiality of the business.
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.
Similar Q&As
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.