Question ID: 3222
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Topic: Solvency Capital Requirement (SCR)
Article: 84(2)(a)
Status: Rejected
Date of submission: 09 Jan 2025
Question
Could you please confirm that the Solvency Capital Requirement (SCR) for investments in (un-listed) loan-financed property shall be calculated as property-risk based on the market-value of the property, rather than the market value of the investment.
Background of the question
https://www.eiopa.europa.eu/qa-regulation/questions-and-answers-database/1857_en and the referenced articles supports the above interpretation - but a clear yes/no would still be appreciated.
EIOPA answer
This question has been rejected because the issue it deals with is already explained or addressed in Article 84(2a) of the Delegated Regulation 2015/35 and because the matter it refers to has been answered in Q&A 1857. The look-through approach applies as this is an indirect exposures to market risk other than collective investment undertakings.