Question ID: 2720
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.01.02
Status: Final
Date of submission: 26 Jun 2023
Question
For the updated version of S.01.02 in taxonomy 2.8, the additional row R0270 asks for information about Captive business: Identify if the undertaking performs a captive business in line with the definition in Article 13 of Directive 2009/138/EC. 1 – Captive business 2 – No captive business When referring to Captive business is this a question regarding the reporting insurance business and if they have Captive business. Or is it enough that a insurance customer has a Captive business which we split both premiums and risks with, eg 80/20?
Background of the question
Article 13 of Directive 2009/138/EC: Captive insurance undertaking’ means an insurance undertaking, owned either by a financial undertaking other than an insurance or reinsurance undertaking or a group of insurance or reinsurance undertakings within the meaning of Article 212(1)(c) or by a non-financial undertaking, the purpose of which is to provide insurance cover exclusively for the risks of the undertaking or undertakings to which it belongs or of an undertaking or undertakings of the group of which it is a member
EIOPA answer
This refers to the case when the reporting insurance company itself has Captive business and not if any customer has it (even if the premiums/risk are split).
If the company is a captive undertaking as defined in Article 13 of SII Directive, it should report "1".