If a company has a business outside Europe this is also to be reported, with the specifics of how the business is written determining which templates are required.  If the business is written by a third country branch, countries outside of Europe will be included in both the location of underwriting (S.04.04) and location of risk (S04.05) views.  If business outside Europe is written directly (e.g. fronted business on a non-admitted basis), it may be that the non-European countries are only included on a location of risk basis (S.04.05).