EIOPA · 876

876

Regulation
(EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report
Article
35
Submitted
2016-12-14
Answered
2019-10-15
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Question

2015/2452 regulates how information is to be exchanged with the regulatory supervisor. However, a few questions remain: -Monetary values should be converted to thousands (such as 43000 => 43). Has the value to be rounded or just floored?-How shall these values be reported in the narrative reporting? Also just in thousands or fully precise?

Answer

The answer is not clear if it refers to supervisory reporting of quantitative reporting templates or to the RSR/SFCR. The second question cleary adresses the narrative reports. Please consider the following clarifications:-  Monetary amounts in the quantitative reporting templates should be reported in units (and not in thousands);- The SFCR should inlcude the moneraty amounts in thousands;- For the RSR, it is actually left open however we do expect consistency with SFCR which is thousands;- In relation to how to convert units in thousands no rule is specified.  The reporting undertaking should adopt its own convention, use it consistently and  explain it the SFCR .
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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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