Question ID: 2040
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Topic: Reporting Templates
Article: NA
Template: S.19.01
Status: Final
Date of submission: 17 Oct 2019
Question
Discounted best estimate claim provisions reported on S.19.01 at columns C0360, C0960, C1560
In the instructions for the above columns, the discounted basis is not specified. Can EIOPA confirm if the discounted basis is the same as that required for the claim provision reported on S.17.01.01 (i.e. the discounted claims provision shall be after the volatility adjustment, the matching adjustment and the transitional adjustment to the relevant risk-free interest rate term structure if applied but shall not include the transitional deduction to technical provisions).
If discounted claim provision reported on S.19.01 is to be consistent with that reported on S.17.01.01, please can EIOPA confirm that the following equalities are reported for each line of business:
- Gross best estimate claims provision – year end (discounted data): {S.19.01, C0360, R0260} = {S.17.01.01, R0160};
- Best Estimate Claims Provisions – Reinsurance recoverable – Year end (discounted data) - after the adjustment for the counterparty default: {S.19.01, C0960, R0460} = {S.17.01.01, R0240}
- Net Undiscounted Best Estimate Claims Provisions – Year end (discounted data): {S.19.01, C1560, R0660} = {S.17.1.01, R0250}
Background of the question
EIOPA confirms the coherence of the two fields: {S.19.01, C0360, R0260} = {S.17.01.01, R0160}
EIOPA specifies that the equality (S.19.01, C0960, R0460} = {S.17.01.01, R0240}) does not hold because the total in S.17 R0240 also includes recoverables from SPV. The following should instead be comparable: {S.19.01, C0960, R0460} = {S.17.01.01, R0210} + {S.17.01.01, R0230}
EIOPA specifies that {S.19.01, C1560, R0660} reports the Net Discounted (not Undiscounted) Best Estimate Claims Provisions. That said, EIOPA confirms the coherence of the two fields {S.19.01, C1560, R0660} = {S.17.01.01, R0250}. Please note that however, the above comparisons between the content of S.17.01 and S.19.01 are not included in the list of validations currently in use.
Please see also 990