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We would like to clarify the treatment of proportional reinsurance in Motor liability Man-made catastrophic risk submodule. When calculating inputs N(a)/N(b) according to Article 129 of DELEGATED REGULATION (EU) 2015/35 "The number of motor vehicles covered by the proportional reinsurance obligations of the insurance or reinsurance undertaking shall be weighted by the relative share of the undertaking's obligations in respect of the sum insured of the motor vehicles." It is not clear to us how this rule should be applied in cases, where proportional reinsurance covers all MTPL business but only to a specified limit per loss. For example: there is QS 50% up to loss of 1mil EUR, and unlimited XL cover above 1mil EUR. N(a) = 80000, N(b) = 0. In that case instantaneous loss L(motor) gross of reinsurance is approximately 14,1mil EUR (calculated by the prescribed formula). To calculate L(motor) net of reinsurance, we see two options: Option 1: Adjust N(a) by 50% proportional reinsurance from 80000 to 40000, in which case L(motor)=10mil, and then apply XL reinsurance, so the final loss is 1mil EUR. However this is not the real impact of 14,1mil nor 10mil loss on insurance company, because QS reinsurance will cover half of retention. But to lower the net loss to half we consider this as double-counting of effect of QS. Option 2: do not adjust N(a) for proportional reinsurance and apply both QS and XL reinsurance on loss of 14,1mil, which would result in 0,5mil net loss. This is the real impact of such loss on own funds, however, it might not be in line with regulation. Could you please clarify expected treatment of limited proportional reinsurance?

Reinsurance company XYZ assumes treaties where each of them has a different settlement currency such as EUR, CHF, PLN etc. All these treaties are entirely retroceded by a single retro contract which settles all retro recoverables in EUR. At the same time this contract comprises an FX clause that converts to EUR all settlement currencies of the underlying treaties other than EUR by using the FX rate at the settlement date. As a result of this clause, XYZ can effectively mitigate their FX risk when the recovered losses are settled in a currency different to EUR. Having said that, should XYZ discount their projection of retrocession recoverable cash flows in EUR or all respective settlement currencies of the underlying treaties? In addition, should XYZ report such expected retrocession recoverable cash flows in EUR currency (retrocession contract settlement currency) or in respective currencies of the underlying reinsurance treaties?

On the Annual RFR Technical Documentation for 2025, it's noted in table 5 of section 6.3 that the 13y GBP swap rate should be used within the construction of the RFR term structure. We do not see that Refinitiv has a GBPOIS13Y= rate available. Can you please confirm how this was derived in the DLT a…

A freight forwarder is organising shipments of goods, from one place to another, on behalf of its customers. Therefore, the company arranges for packaging, stuffing/destuffing the goods in/from a container, road/air/marine transportation, customs procedures, et cetera and strives to successfully...

Hello,

I am doing a personal research about a bank in Spain called Bankinter and its partners about insurances and pensions plans

Bankinter Seguros de Vida S.A. de Seguros y Reaseguros
Clave Registro DGSFP: G-0006
Avda. de Bruselas, 12 Alcobendas (Madrid)

Bankinter S.A. (Clave DGSFP D-00…

A freight forwarder is organizing shipments of goods, from one place to another, on behalf of its customers. Therefore, the company arranges for packaging, stuffing/destuffing the goods in/from a container, road/air/marine transportation, customs procedures, et cetera and strives to successfully com…

The RFR Technical Documentation published in June 2025 and due to take affect on 1st January 2026 indicated that the 11Y swap rate for AUD is considered liquid and should be used in the derivation of the interest rate term structure. However, we are unable to find or extract data for this instrumen…

Could you provide further guidance on the potential involvement of publicly accessible AI Chatbots in insurance distribution, and on the appropriate regulatory approach to this emerging issue? Given the rapid proliferation and increasing sophistication of these technologies, their relevance to insur…

Considering that insurance and reinsurance intermediaries and ancillary insurance intermediaries are not obliged by law to setup a dedicated legal entity to carry out insurance distribution and therefore some of them may have a principal professional activity other than insurance distribution, how should the calculation of the thresholds defined in DORA Article 2(3) point (e) for exclusion of those intermediaries which are micro, small or medium enterprises be interpreted?