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Calculation of technical provisions

1. The value of technical provisions shall be equal to the sum of a best estimate and a risk margin as set out in paragraphs 2 and 3.2. The best estimate shall correspond to the probability-weighted average of future cash-flows, taking account of the time value of money (expected present value of...

Extrapolation of the relevant risk-free interest rate term structure

The determination of the relevant risk-free interest rate term structure referred to in Article 77(2) shall make use of, and be consistent with, information derived from relevant financial instruments. That determination shall take into account relevant financial instruments of those maturities...

Matching adjustment to the relevant risk-free interest rate term structure

1. Insurance and reinsurance undertakings may apply a matching adjustment to the relevant risk-free interest rate term structure to calculate the best estimate of a portfolio of life insurance or reinsurance obligations, including annuities stemming from non-life insurance or reinsurance contracts...

Calculation of the matching adjustment

1. 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...

Review of long-term guarantees measures and measures on equity risk

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...

Segmentation

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.

Recoverables from reinsurance contracts and special purpose vehicles

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...