Question ID: 1402
Regulation Reference: (EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report
Article: 293
Status: Final
Date of submission: 09 Nov 2017
Question
As far as I understand, the comparison of the information in the Quantitative Reporting Templates from the current period to the previous one is mandatory according to some regulations (e.g. Art. 293 Abs. 2). The Quantitative Reporting Templates in chapters A.2, D.2 and E. have to contain a comparison between the current period and the previous one.
My question addresses the residual chapters of the Solvency & Financial Condition Report. Is it obligatory for each table of the report to include a comparison between periods or it is optional for some chapters?
EIOPA answer
The delegated regulation stipulates the content of the Solvency and Financial Condition Report and defines the cases where the comparison of the information with the previous period is requested to be provided in the report itself. When nothing is said, comparative information is not mandatory but could be disclosed by the undertaking if considered relevant. Quantitative Reporting Templates provide additional information in a standardised form and do not include the comparative information. Comparative information, when requested should be provided in the Narrative part of the SFCR.
Please note that article 303 requires that where a comparison of the information with that reported on the previous reporting period is required this is only mandatory where the previous reporting period covers a period after the date of application of Directive 2009/138/EC.