Question ID: 3011
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.17.03
Status: Final
Date of submission: 22 Feb 2024
Question
Questions are regards S.17.03. We find some doubt about the rules for the country to be used for reinsurance accepted business. In the old E.03.01 template the rule was "information shall be reported by area or country in which the reinsured undertaking is resident". And in the life equivalent (S.12.02, which is in line with other QRTs where country breakdown is used e.g. S.04.05) there is similar guidance: " For proportional and non–proportional reinsurance information shall be reported by country of localisation of the ceding undertaking." In the S.17.03 template there is no mention of such a rule. Can EIOPA confirm this is an ommission (perhaps carried through from the previous scope of S.17.02) and that country for reinsurance accepted should be based on country of cedant.
EIOPA answer
In case of accepted reinsurance, the “country where the contract was entered into" should refer to the country where the ceding undertaking resides. This will be clarified in the next amendments of the ITS on reporting and disclosure.