Question ID: 940
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.05.01
Status: Final
Date of submission: 20 Dec 2016
Question
Do we include premiums, claims and expenses relating to a Lloyd's syndicate that gets consolidated in the Corporate Member and Group's IFRS accounts in S.05.01 PCE QRT?
EIOPA answer
The Instructions of S.05.01 requires PCE to be reported by Solvency II lines of business but using IFRSs or local GAAP. Corporate members are 'non-regulated, non-financial' (NRNF) entities under Solvency II principally because they are not authorised. The default treatment of 'NRNF' entities is the adjusted equity method (i.e. the entities are treated as investments) because they are non-insurance undertakings. Therefore the premiums, claims and expenses from the syndicates should not be reported on S.05.01.