Question ID: 1399
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.05.01
Status: Final
Date of submission: 01 Mar 2018
Question
We have two questions regarding the template S.05.01:
1. According to the template S.05.01 instruction in Expenses incurred (C0010 - C0160/R0550) should be recognised “All technical expenses incurred by the undertaking during the reporting period, on accrual basis.”
Could you please clarify what kind of technical expenses in non-life should be presented in the row Expenses incurred (C0010 - C0160/R0550)? Whether investment management expenses should be included in non-life undertakings technical expenses or not?
2. According to the template S.05.01 General comments for quarterly reporting administrative expenses, investment management expenses, acquisition expenses, overhead expenses shall be presented aggregated. Could you please clarify why claims management expenses are not included here?
EIOPA answer
1. The different types of technical expenses in the non-life to be presented in S.05.01 are specifically asked by type and by line of business – e.g. administrative expenses, investment management expenses, etc. Their total amount is filled in Expenses incurred (C0010 - C0160/R0550) - All technical expenses incurred by the undertaking during the reporting period, on accrual basis. Please see BV414 from the list of validations file.
2. This is a mistake in the general comment: The element "claims management expenses" is missing in the mentioned paragraph of the general comment. R0550 as well as R1300 should include, as the Instructions state " All technical expenses incurred by the undertaking during the reporting period, on accrual basis" and "Amount of all technical expenses" respectively.
Please note that in general not all elements from the technical accounts of Directive 91/674/EEC are requested in S.05.01 as it is not the aim of the template to replicate a technical account. Please be also aware that certain elements in S.05.01 are treated differently than in Directive 91/674/EEC, i.e. overhead expenses and investment management expenses as stated above."