Q&A

Question

This question relates to the requirement for Validity period (expiry date).  We have identified that the majority of our external reinsurance treaties do not carry a specific expiry date - The expiry date is usually stated as “continuous” and this applies up until the termination clause is invoked by either party.  A similar scenario exists for internal reinsurance treaties reported via the S.36.03 QRT, however in this case EIOPA has given guidance in the instructions that “This item is not reported if there is no expiry date (for example, contract is continuous and ends by one of the parties giving notice)”.  Can this approach for S.36.03 be mirrored for S.30.03?  If so, in order to satisfy the validation controls which stipulate that a date value is required, can we propose a generic date is reported e.g. 31-12-2099?

EIOPA answer

The same approach as in S.36.03 should apply. This cell should be left blank in the cases where there is no expiry date.

Current validations allow this cell to be reported blank.