Question ID: 1507
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 28
Status: Final
Date of submission: 11 Jun 2018
Question
According to article 28 Delegated Regulation calculation of the best estimate shall include only this payments for salvage and subrogation to the extent which do not qualify as separate assets or liabilities.
Could you clarify which position is correct one to present payments for salvage and subrogation qualified as separate assets or liabilities? “Any other assets, not elsewhere shown” or “Insurance and intermediaries receivables” .
Please also state if undertakings should present this payment only as an asset/liability (net of reinsurance share) or gross value in assets and reinsurance share in liabilities.
EIOPA answer
When payments for slavage and subrogations qualify as a separate asset or liability these should be classified as "any other assets/liability not elsewhere shown".
Generally, balance sheet items are not netted, unless they stem from the same activity against the same counterparty, therefore receivables or payables by different counterparties should be reported separately.