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European Insurance and Occupational Pensions Authority

2390

Q&A

Question ID: 2390

Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities

Topic: Disclosure Templates

Article: Article 35 of SII Directive

Template: S.04.01

Status: Final

Date of submission: 17 Feb 2022

Question

With regards to S.04.01 Activity by Country can I confirm the approach below considering UKs exit from the EEA. Previously business underwritten through FPS by the undertaking (Ireland) into the UK was reported under C0020 and C0100. In 2021 UK is no longer part of the EEA, and so by definition FPS classification cannot apply (Freedom of Services as defined in the Solvency II Directive can only be performed in a Member State (Article 13 (9)).). As a consequence of the above should we then omit business underwritten by the undertaking into the UK from the QRT, or are we expected to report it under C0070 'Total business underwritten by all non-EEA branches', and C0110 if materiality threshold is met? We do not have a branch in the UK but it is unclear to us from previous Q&As if this is the expectation.

Background of the question

Impact of Brexit on S.04.01

EIOPA answer

EIOPA confirms that the business underwritten by the undertaking into the UK is expected to be reported under C0070 'Total business underwritten by all non-EEA branches', and C0110 if materiality threshold is met.