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European Insurance and Occupational Pensions Authority

1697

Q&A

Question ID: 1697

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: 15 Nov 2018

Question

S.29.04.R0030 and R0100 - Expenses: it is expected that the amounts reported in both S.29.03 and S.29.04 are the same (see BV510). One doubt that could arise would be the investment expenses, however in both S.29.03 and S.29.04 the amount on expenses should exclude any investment expenses.

How is it possible that values from Technical Flow in S.29.03. are in line with S.05.01. if S.29.03. is filled with economic view figures whereas S.05.01. is filled with local GAAP figures?

EIOPA answer

Please, note that consistence does not mean the same values considering the different valuation approaches. We have the validation required by BV510 just for S.23.03 and S.29.04 where we expect to be almost the same values. The values from Technical Flow in S.29.03. are in line with S.05.01 because there is a connection with amounts reported in template S.05.01.

However, template S.05.01 is to be reported from an accounting perspective, i.e: Local GAAP or IFRS if accepted as local GAAP while templates S.29 should use Solvency II calculation. The amounts to be reported in this table should be consistent with the ones reported in S.05.01. The assumption is that any technical cash-in and out flow will be reflected as well in the responsibility assumed in the best estimate.