We are trying to understand the impact of country VA for Italy, how did you calibrate it especially during the sovereign crisis in 2012/2013 compared to the EUR VA?

using the latest published portfolio composition, (31/03/2017) we can observe a country VA that adds +9 on top of a EUR VA of 30 (October 13), is that what you can also see?

EIOPA answer

We do not have calculated the volatility adjustments for the period before 2015 and are therefore not in a position to confirm your calculation results.