Question ID: 2298
Regulation Reference: (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance)
Topic: Minimum Capital Requirement (MCR)
Article: 129(1)(d)
Status: Rejected
Date of submission: 21 May 2021
Question
In the Article 129(1)(d) of Solvency II Directive absolut floors of MCR in EUR are set. The Directive 2014/51/EU of the European Parliment and of the Council implemented the change in the values of the floors. On this basis the question occurs whether there are next updates planned and what is the legal basis for the revision and update of the AMCR in EUR?
Background of the question
According to the Article 272 of the Polish Act on Insurance Activity the AMCR is verified once every 5 years and basing on the HICP the values may be updated. However there is no other source of such information available.
EIOPA answer
This question has been rejected because the issue it deals with is already explained in Article 300 of the Solvency II Directive (the revision of the amounts expressed in euro is due by the end of 2021).