Question ID: 1246
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 24 Jul 2017
Question
Guaranteed level information. For eg, GMAB and GMDB guaranteed level could be based on Account Value or Single premium base, the the level is around 1. For GMWB and GMIB, guarantee level is a rate and around 5% for example.
Sometimes, it is the roll up rate that is guaranteed, in this case, we put the roll up rate. It makes the guaranteed level information very uncomparable between different type of guarantees. Is the logic of putting guarantee level fine?
EIOPA answer
We confirm that the logic of putting guarantee level is correct. We are aware that it makes the guaranteed level information not completely comparable between different type of guarantees.