Final Reports on the revision of EIOPA Guidelines on Contract Boundaries and Guidelines on the Valuation of Technical Provisions

During the 2020 review of Solvency II EIOPA identified several divergent practices regarding contract boundaries assessment and the valuation of best estimate, as presented in the analysis background document to EIOPA’s Opinion on the 2020 review of Solvency II. Divergent practices require additional guidance to ensure a convergent application of the existing regulation.

In accordance with Article 16 of Regulation (EU) No 1094/2010 EIOPA issues revised Guidelines to provide guidance on how insurance and reinsurance undertakings should apply the requirements of Directive 2009/138/EC (“Solvency II Directive”) and in Commission Delegated Regulation (EU) No 2015/35 (“Delegated Regulation”), on the boundaries of insurance and reinsurance contracts and on best estimate valuation.