Question ID: 1983
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Topic: Solvency Capital Requirement (SCR)
Date of submission: 10 Jul 2019
Within the reviewed regulation (EU) 2019/981 of 8 March 2019, in the English version of Article 116(3) point (d)(ii) on Future Premiums for multi-year contracts it is stated that "... to be earned by the insurance or reinsurance undertaking in the segment s after the following 12 months". The official German version states "...in Segment s in den folgenden zwölf Monaten". So the English version requires "after 12 months" and the German version requires "within 12 months". From an international insurance Group perspective, how can we ensure compliance with both versions?
The German version of Article 116(3) point (d)(ii) of the Commission Delegated Regulation (EU) 2015/35 has been corrected to align with the English version.
Changes are reflected in the current consolidated version (refer EUR-Lex - 32015R0035 - EN - EUR-Lex (europa.eu)).
This question has been rejected because the issue it deals with is already addressed in Commission Delegated Regulation (EU) 2015/35.