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European Insurance and Occupational Pensions Authority

1095

Q&A

Question ID: 1095

Regulation Reference: (EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report

Article: 35

Template: S.14.01

Status: Final

Date of submission: 29 Apr 2017

Question

You will find below questions about template S.14.01.01 :

- S.14.01.01.02 : For column C0100, is it possible to describe in a more accurate way the different choices : "single life", "joint life", "collective" and "pension entitlements" ?

- S.14.01.01.02 : What is the link between columns "Product ID code" (C0090) and "Product denomination" (C0120) ? Is it possible, for a given "Product ID code", to contain many "Product denomination" ? Is it possible to bring together some products which are close but with different commercial names in a same "Product denomination" ?

EIOPA answer

1.    "In general the "single life" insurance policy covers one person only where the "joint life" insurance policy cover two lives, usually on a 'first death' basis. "Collective" insurance policy is a group insurance policy.
For identification of pension entitlements please see answer to Q343 as published in "Answers to questions on the Final report on the ITS on the templates for the submission of information to the supervisory authorities (CP-14-052)". Pension entitlement contracts having further features such as being a single, joint or collective contract should be classified as "5 – Other" only if both features (e.g. single life and pension entitlements) are material. If one of the features is clearly more material in relation to other then option 5 should not be used. Option 5 is to be used only when both features are material.
In case of doubt regarding a specific contract please contact the NCA.

2.    "Product ID code" is the internal ID code used by the undertaking for the product which shall be consistent over time. "Product denomination" is the commercial name of the product which is undertaking-specific Please contact your NSA to assess if the same product with different "Product denomination" should be reported in one row or in different rows. Different situations apply. For the cases where products have to be reported in more than one row the content of C0010, C0090 and C0220 should follow specific pattern: {ID code of product}/+/{number of version}. For example 'AB222/+/3'.
Issue identified in the list of know issues as issue 96.
Supervisory reporting - DPM and XBRL