EIOPA · 67
67
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2014-05-05
- Answered
- 2019-10-29
Question
Please, could you verify the definition/instructions in cells B1 and B7 (Appendix II - template SCR-B3E-S.26.05) ?I am fully aware that USPs are not applicable for the purpose of the preparatory phase, since they are not part of the Solvency I regime. Yet despite this fact, EIOPA has changed the definition for all the cells regarding USPs through the addition of "IF A001 = Y, B2 = 0" (mutatis mutandis for other cells alike).Please, Could you confirm that EIOPA wants that captive undertakings using simplified calculations report 0 for cells B1 and B7 as well?
Answer
The USP do not apply for the preparatory phase. Therefore the cells B1 and B7 of S.26.05 should not be reported by any undertaking, including captives. Appendix II includes all cells of the final report and was in fact up-dated, however at the top of both cells it can be read ‘NOT APPLICABLE for the purpose of preparatory phase’.
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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