Question ID: 2414
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Topic: Technical Provisions (TPs)
Article: 35 of SII Directive
Template: S.13.01
Status: Final
Date of submission: 04 Apr 2022
Question
Legal requirement for all Insurers providing health insurance in Germany is to transfer specified amounts of the ageing reserve (Alterungsrückstellung) to a third party (new Insurer). Under new IFRS 9/17 accounting regime this will be recognized as premium cashflow given that transfer value is based on ageing reserve which is not claim related. For the purpose of consistency between IFRS 9/17 and SII reporting would it be acceptable to report transfer value related cash flow as part of Future Premiums instead of Future Benefits how is currently reported in QRT S.13?
EIOPA answer
EIOPA confirms that it is not acceptable to report transfer value related cash flow as part of Future Premiums instead of Future Benefits. In addition, S.13 is not required to be reported from an accounting perspective and there is no need to bring consistency between IFRS 9/17 and SII reporting.