Question ID: 2776
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: N/A
Template: S.14.02
Status: Final
Date of submission: 31 Aug 2023
Question
The interpretation of field C0060 seems to be ambiguous. The guideline says: 'Number of new contracts during reporting year (this is for all new contracts including those that are renewed).' And additional: 'New contract refer to contract written during the year with respect to other ongoing contracts written in previous years.' The question is what is 'renewed'? It suggest that extended contracts are inclusive (contracts of 1 year, which are extended). If that is the case, the number of contracts is equal to column C0050 in case of contracts of 1 year. The additional text according to new contracts 'written during the year with respect to other ongoing contracts written in previous years' suggest that extended contracts will be included. In case of 1 year contracts column C0050 en C0060 are equal. Can you confirm this interpretation?
EIOPA answer
C0060 refers to all new contracts which have been written during the reporting year. This includes new contracts concluded in the reporting period and renewal of previous contracts accepted during the reporting period. In case all contracts would be 1 year contracts then columns C0050 and C0060 could be expected to be equal.