EIOPA · 532
532
- Regulation
- Guidelines on reporting for financial stability purposes
- Article
- 35
- Submitted
- 2016-02-10
- Answered
- 2019-10-17
Question
1) Does “lapse or surrender” include “Beitragsfreistellung” (deferred payments)?2) Volume of contracts with lapse or surrender: does this refer to the volume of the contract at the beginning of the reporting period or at the time the contract is leaving the fund?3) Should new business be considered in the calculation?
Answer
1. Where material and affecting technical provisions, deferred payments should be included in the calculation2. Following the LOG-file, this refers to the beginning of the reporting period3. New business should not be considered. As the denominator refers to the beginning of period, including new business would distort the measure.
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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