Insurance and reinsurance undertakings and insurance groups from the European Economic Area and subject to Solvency II are requested to provide the following information in the context of the 2020 review of Solvency II:
Volatility adjustment
- Impact of two approaches to the calculation of the volatility adjustment (VA) on the solvency position
Solvency position of insurance and reinsurance undertakings
- Impact of changes to the derivation of risk-free interest rate term structures for specific currencies
- Impact of specific approach to the calculation of the best estimate of technical provisions
- Information on equity risk exposures and the impact of changes to the equity risk sub-module of the SCR standard formula
- Other information on the SCR standard formula calculation, in particular the impact of recalibrating the interest rate risk sub-module
Cost and benefits for insurance and reinsurance undertakings
- Information on the cost and benefits of changes proposed for consultation
Solvency position of insurance groups
- Information on impact on solvency of changes proposed for group supervision
Cost and benefits for insurance groups
- Information on the cost and benefits of changes proposed for consultation
National supervisory authorities will contact a representative samples of undertakings and groups regarding the provision of information for each part of the request.
Insurance undertakings should submit the completed reporting templates to the respective national supervisory authority. The templates should be filled according to the instructions in the technical specifications and taking into account the technical information.
Timeline
Timeline | |
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16 Oct 2019 | Launch of the request to insurance and reinsurance undertakings and groups |
6 Dec 2019 | Deadline for insurance and reinsurance undertakings and groups to submit results to national supervisory authorities |
8 Jan 2020 | Deadline for national supervisory authorities to report to EIOPA |