EIOPA · 945
945
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2017-01-27
- Answered
- 2019-09-23
Question
Some insurance companies are contacting us in order to know the potential consequences of non following the indicated threshold provided by the EIOPA and by alway providing detailed informations rather than aggregated.for instance, in QRT S.02.02 they would prefer to provide the full breakdown by currency rather than only providing the detail for the TOP 5 currencies.
In case an insurance company will provide additional informations, will EIOPA accept the declaration as it will offer more detailed information to analyze or will EIOPA reject the submission as it's not consistent with the ITS?
Answer
In fact only the material ones should be reported. The main reason is the fact that the modelling approach is to explicitly state in DPM where are material vs. not material currencies. If we allow for reporting non-material currencies in container dedicated for material ones (one-by-one) then conceptually it would be messy as they would anyway be modelled as material.
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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