Question ID: 2631
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Topic: Reporting Templates
Article: 13 of DR
Template: S.02.01
Status: Rejected
Date of submission: 09 May 2023
Question
For example: we (Insurance Z) acquired 100% of the shares of an unlisted non-insurance undertaking (Company A) on 31.3.2023. We will evaluate SII value according to the paragraph 5. of the article 13. (COMMISSION DELEGATED REGULATION (EU) 2015/35), because valuation of individual assets and liabilities in accordance with the paragraph 4. of the article 13. is not practicable. In this example, what amount should we report in S.02.01 and S.06.02 templates on 31.3.2023? Company A Book Value / Company A Fair Value (on 31.3.2023) Current Assets: 100 / 100 Non-current Assets Property, Plant and Equipment: 200 / 230 Goodwill: 0 / 0 Intangible Assets: 0 / 0 Total Assets: 300 / 330 Total Liabilities: 200 / 200 Net Assets: 100 / 130 Cost to acquire Company A on 31.3.2023: 150 IFRS Insurance Z Balance Sheet (on 31.3.2023) : Financial investments in subsidiaries: 150 (equity method - initially recorded at cost)
EIOPA answer
This question has been rejected because the issue it deals with is already explained or addressed in Article 13 of Commission Delegated Regulation (EU) 2015/35 and Guideline 6 of the Guidelines on recognition and valuation of assets and liabilities other than technical provisions.