Question ID: 533
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.14.01
Status: Final
Date of submission: 10 Feb 2016
Question
Regarding the Annualised Guaranteed Rate (AGR) disclosures in S.14.01.01 cell C0210:
1. Should S.14.01 C0210 be disclosed at HRG or AGR level? If at HRG level (as implied in the EIOPA Log file), the AGR entry could be confusing and/or complicated (compared to HRG level).
2. The EIOPA Log states that S.14.01 should include all business (even unit-linked). However, C0210 guidance states that unit-linked contracts should be excluded from C0210. So, should the disclosures in C0170-C0210 capture all business (including unit-linked) or only that business which is in scope for C0210 (i.e. unit-linked contracts are excluded)?
3. What detail do you want disclosed for AGRs in C0210? Would a range of guaranteed rates be sufficient, or do you need information to allow you to judge materiality (e.g. a weighted average guaranteed rate)? The AGR information would be more information at AGR and not HRG level (linked to question 1 above).
EIOPA answer
1. The information on C0210 (Annualised guaranteed rate (over average duration of guarantee)) should be reported at the level of HRG, as indicated in the Instructions.
In this template, columns C0010 to C0080 shall be reported by product, columns C0090 to C0160 characterise the product and columns C0170 to C0210 shall be reported by Homogeneous Risk Group.
2. Reporting in C0170-C0210 should capture all business (including unit-linked). For the lines referring to HRG that refer to Unit-Linked business only C0170 to C0200 should be filled in. C0210 should be left blank for this HRG.
3. What is finally reported will depend on the different types of products aggregated at the level of the HRG. C0210 however always displays the average guaranteed rate for each HRG reported in lines C0170-C0210 (apart from UL as explained in 2. above).