Question ID: 2683
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: Template E.04.01
Status: Final
Date of submission: 08 Jun 2023
Question
Regards the new template E.04.01 for 2.8 and the associated LOG guidance (in the draft business package supporting SII taxonomy 2.8.0). Can EIOPA please confirm if the following relationship would always (for all companiy types) be expected to hold (this would be within an annual return where E.04.01 QRT is included): E.04.01.16 EC0060 ER0050 = S.29.02.01 C0010 R0040 E.04.01.16 EC0070 ER0050 = S.29.02.01 C0010 R0050
EIOPA answer
Please note that the instructions for the ECB add-ons were updated and are available at: https://www.ecb.europa.eu/stats/money/icpf/shared/pdf/Instructions_for_ECB_add-ons_1.zip
According to them:
Investment revenues attributed to policyholders should include any income earned from the investment of premiums that policyholders receive and that effect the TP in the reporting period. This applies to unit-/index-linked and non-unit-/index-linked contracts. Under the assumption that non-life products with profit participation do not exist, total investment revenues as reported annually in S.29.02 (C0010/R0040) should be equal to the sum of all rows of E.04.01 EC0020 and EC0030 + ER0050/EC0060 of the Q4 return. I.e., once S.29.02 becomes available through annual reporting, investment revenues not attributed to the policyholder (ER0050/EC0060) may be calculated by subtracting E.04.01 all rows/EC0020 and all rows/EC0030 of the Q4 return from S.29.02.01 C0010/R0040 of the same year.
Investment expenses attributed to policyholders to be reported in EC0040 and EC0050 relate to costs (as mentioned in S.29.02) for the policyholder in the reporting period that effects TP in the reporting period. Under the assumption that non-life products with profit participation do not exist, total investment expenses as reported annually in S.29.02 (C0010/R0050) should be equal to the sum of all rows of E.04.01 EC0040 and EC0050 + ER0050/EC0070 of the Q4 return. I.e., once S.29.02 becomes available through annual reporting, investment expenses not attributed to the policyholder (ER0050/EC0070) may be calculated by subtracting E.04.01 all rows/EC0040 and all rows/EC0050 of the Q4 return from S.29.02.01 C0010/R0050 of the same year.