Question ID: 1061
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 182
Status: Final
Date of submission: 21 Jun 2018
Question
I have a simple and quick question. It is more a "language issue".
Par 4, Article 182 suggest calculating weighted average CQS as a "rounded-up average". I was wondering what does "rounded-up" means. I will show my understanding on example:
roundup of 3.2 = 4
roundup of 3.7 = 4
roundup of 3 = 3
roundup of 3.01 = 4
Is it like this?
I imagine this may seem like very silly question - sorry about that - but the translations to other languages are not very clear and they use simply wording "rounded average".
EIOPA answer
Value Rounded-up
value
3.2 4
3.7 4
3.0 3
3.01 4