Rulebook search (827)
RSS1. For each currency the matching adjustment referred to in Article 77b shall be calculated in accordance with the following principles:(a) the matching adjustment must be equal to the difference of the following:(i) the annual effective rate, calculated as the single discount rate that, where...
1. Member States may require prior approval by supervisory authorities for insurance and reinsurance undertakings to apply a volatility adjustment to the relevant risk-free interest rate term structure to calculate the best estimate referred to in Article 77(2).2. For each relevant currency, the...
1. EIOPA shall, on an annual basis and until 1 January 2021, report to the European Parliament, the Council and the Commission about the impact of the application of Articles 77a to 77e and 106, Article 138(4) and Articles 304, 308c and 308d, including the delegated or implementing acts adopted...
In addition to Article 77, when calculating technical provisions, insurance and reinsurance undertakings shall take account of the following:(1) all expenses that will be incurred in servicing insurance and reinsurance obligations;(2) inflation, including expenses and claims inflation;(3) all...
When calculating technical provisions, insurance and reinsurance undertakings shall take account of the value of financial guarantees and any contractual options included in insurance and reinsurance policies.Any assumptions made by insurance and reinsurance undertakings with respect to the...
Insurance and reinsurance undertakings shall segment their insurance and reinsurance obligations into homogeneous risk groups, and as a minimum by lines of business, when calculating their technical provisions.
The calculation by insurance and reinsurance undertakings of amounts recoverable from reinsurance contracts and special purpose vehicles shall comply with Articles 76 to 80.When calculating amounts recoverable from reinsurance contracts and special purpose vehicles, insurance and reinsurance...
Member States shall ensure that insurance and reinsurance undertakings have internal processes and procedures in place to ensure the appropriateness, completeness and accuracy of the data used in the calculation of their technical provisions.Where, in specific circumstances, insurance and...
Insurance and reinsurance undertakings shall have processes and procedures in place to ensure that best estimates, and the assumptions underlying the calculation of best estimates, are regularly compared against experience.Where the comparison identifies systematic deviation between experience and...
Upon request from the supervisory authorities, insurance and reinsurance undertakings shall demonstrate the appropriateness of the level of their technical provisions, as well as the applicability and relevance of the methods applied, and the adequacy of the underlying statistical data used.