Question ID: 2232
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Topic: Reporting Templates
Article: N/A
Template: S.05.01
Status: Final
Date of submission: 18 Dec 2020
Question
Becoming of the QRT S.05.01 COVER group with IFRS 17 With IFRS 17, P&L of insurance groups will change. Items such as Premiums and Claims will not exist any more. As it is stated that for this QRT, "Groups shall use the recognition and valuation basis as for the published financial statements, no new recognition or re–valuation is required ", does it mean that Groups using IFRS standards won't have to fill this QRT any more or will this QRT be adapted when IFRS 17 will be applicable ? Background of the question: Proposed answer to the question: Is this a follow - up to an already answered question? I have read the Privacy Statement: I have read the Privacy Note [6] and agree for EIOPA to process my personal data accordingly.
Background of the question
P&L items under IFRS 17 are not the same as with IFRS 4
EIOPA answer
Please note that instructions of the S.05.01 have been amended considering the IFRS 17. The chnages are part of the ITS amendments 2022 to be applicable from 31.12.2023. Please also consider Q&A 2465.