Question ID: 334
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 19 Jan 2016
Question
Our reinsurance company has a couple of life reinsurance treaties in portfolio, but tehnical provisions on gross and net basis for life business are less then 0,1% of total technical provisions. Is in this case possible to use proportionality principle and only report QRT for nonlife business?
EIOPA answer
All templates foreseen in the Technical standard should be reported if applicable. In this case, regardless of the materiality of the business the life business will need to be reported in the relevant templates. It is considered that in this case the “embedded” proportionality will apply as in principle the life templates should not require a huge burden to fill in given the scope and materiality of the business.