EIOPA · 689
689
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2016-07-06
- Answered
- 2019-09-18
Question
I am struggling with the business validation nb. 475 (and some others validating the same except for the different LoBs).
The validation says that net TP for Income protection (in the S.17.01) should be lower than the net TP as presented in the S.28.02 non-life activities. It does not make sense to me. How come that TP for LoB should be lower than TP for Lob relating to NL activities only?
Erro message says:The amount reported in template S.28.02 as "Net (of reinsurance/SPV) best estimate and TP calculated as a whole" for non-life activities is lower than the amount reported in template S.17.01 for Income protection insurance and proportional reinsurance. I believe it in fact should be lower!
Answer
Please see answer to Q618 as published in Answers to questions on the Final report on the ITS on the templates for the submission of information to the supervisory authorities (CP-14-052) regarding the consideration of recoverables on both templates.
Regarding your reference to the fact that S.28.01 refers to NL activities we clarify that we also expect all NL activities to be reported in S.17.01, therefore no difference in the amounts reported is expected due to that reference.
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.