Question ID: 3079
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: S.04.03, S.04.04, S.04.05
Template: S.04.03, S.04.04, S.04.05
Status: Final
Date of submission: 24 Apr 2024
Question
We're seeking clarification on the new S.04.03, S.04.04, and S.04.05 QRTs added to the 2.8 taxonomy. Our operations are solely within our home country (EEA), but we conduct direct business with one non-EEA country. Is it correct that in S.04.03, we only need to report using one underwriting entity code, selecting Head Office (C0020) and EEA Branch (C0030)? Additionally, in S.04.04.01.01, should we report "R0020-R0050" separately, with home country results in C0010 and non-EEA results in C0020? Furthermore, in S.04.04.01.02, are we only required to report the home country results? Lastly, is filing S.04.05 necessary for our situation?
EIOPA answer
- S.04.03 shall include underwriting entity codes for the Head Office and any Branch located in a non-EEA country.
- In S.04.04, consistently with S.04.03, business should be reported as underwritten by the head office and the branch located in the non-EEA country.
- Template S.04.05 should be reported. This template has an associated materiality threshold so that country-by-country reporting is only necessary for 95% of the business, with the remaining business grouped as “other countries". In the situation outlined (with just two countries) if the smaller country is less than 5% of GWP it could be (correctly) reported as “other countries"; however, we advise specifying the country in this simple case.