Q&A

Question

There is a treaty (Treaty ID:”T1”) which inception date is on the 1st of March end expiry date on the 28th of February. The first underwriting year was 1st March 2010 and the treaty has been renewed each year. Looking at the reporting period 2018 there are 2 treaty periods that include or overlap the reporting year and are known when the template has to be filled:

                Treaty ID             Inception date                 Expiry date
T1                           01/03/2017                        28/02/2018
T1                           01/03/2018                        28/02/2019        

The reinsurers panel is different  for the 2 periods.
Which period has to be reported in QRT S.30.03 for reporting period 2018?

There is a treaty (Treaty ID:”T2”) which inception date is on the 1st of July end expiry date on the 30th of June. The first underwriting year was 1st March 2010 and the treaty has been renewed each year. Looking at the reporting period 2018 there is 1 treaty period that includes or overlaps the reporting year and is known when the template has to be filled:

                Treaty ID             Inception date                 Expiry date
T2                           01/07/2017                        30/06/2018

This period is reported in the 2018 transmission.

In July, after the renewal another treaty period is present

                Treaty ID             Inception date                 Expiry date
T2                           01/07/2018                        30/06/2019

Does this event require a re-submission of the data ?

EIOPA answer

For the treaty T1: In case the treaty conditions remains unchanged for the 2 inceptions and expiry date then you should report the first ID inception date and the second expiry date.
If the treaty have different conditions for the 2 different periods then you should report these treaties are considered different treaties for the submission of information and shall be reported in different sections.

For the treaty T2: After the renewal of the treaty you should re-submit the information if there are significant changes in the contract. If the contract has been renewed with no other changes than the date and when the treaty is not significant in running the undertaking’s business no re-submission is needed.