In the annex S.12.1 the Lines of business “Index-linked and unit-linked insurance”, “Other life insurance” and “Health insurance” are split between “Contracts without options and guarantees” and “Contracts with options or guarantees”. For this split the following should be considered:
-    “Contracts without options and guarantees” should include the amounts related to contracts without any financial guarantees or contractual options, meaning that the technical provision calculation does not reflect the amount of any financial guarantees or contractual options. Contracts with non-material contractual options or financial guarantees that are not reflected in the technical provisions calculation should also be reported in this column;
-    “Contracts with options or guarantees” should include contracts that have either financial guarantees, contractual options, or both as far as the technical provision calculation reflect the existence of those financial guarantees or contractual options.

Does the consideration of product with or without options and guarantees depends on whether or not the TVFOGs calculation are performed with stochastic methods ?

Could you tell us your opinion on whether the next life Products are with options guarantees or without options and guarantees?

1. A protection product (Yearly Renewal Term)
2. A protection product (multiannual)
3. A Saving products with withdrawal and interest rate guaranteed
4. An Annuitie
5. A Whole life or Endoment with witdrawal guaranteed