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We have a question regarding the discounting of assets and liabilities when calculating the Solvency Capital Requirement for a non-life undertaking using an internal model with uncentred risk measure and short average asset and liability durations (significantly under 5 years). In our opinion, end-period own funds (t=1) should be discounted to the period start (t=0) when comparing them with initial own funds, or alternatively, initial own funds should be inflated to period end with a corresponding factor.

Because Article 36 explicitly says that it concerns Annual submission of IGT and RC, my assumption would be that Article 38 concerns Ad-hoc submissions of the same (this could be written out explicitly to clear any doubts). In this article, you explicitly list all 5 of the new S.36 IGT QRTs: '... using, as appropriate, ...'. This would indicate that S.36.05 should be included in an Ad-hoc reporting.

A new NACE classification (2.1) has been officially published in February 2023. For statistical purposes it will come into effect as per Jan 1st, 2025. Will it also be mandatory to use this revised classification scheme as per that date for regulatory reporting purposes, like the Solvency II QRTs?

Does the description of column "Net Receivables"(C0160) in ITS (EU) 2023/894 exclusively describe transactions in the following two situations? - between two insurance undertakings where one undertaking cedes insurance risk to another in the form of reinsurance - between two insurance undertakings in coinsurance arrangement.

QRTs S.37.02 and S.37.03 require reporting the respective amounts 'after insurance risk mitigation techniques (net amount)'

Is the column C0120 (Amount of Claims Paid) on "Year to Date" basis?

The IGT QRTs S.36.XX require to submit intragroup transactions (above threshold) for SII regulated entities within the group. One regulated entity left the group completely, as sold externally, in the first half of the year. Do we need to include this sold entity, for which we do not have control any longer, in our reporting as of 31.12.?

In Directive (EU) 2025/2 of the European Parliament and of the Council of 27 November 2024 amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks and group and cross-border supervision, and amending Directives 2002/87/EC and 2013/34/EU (Text with EEA relevance)", a new methodology to compute the volatility adjustment is presented. In it, a parameter called CSSR is introduced, which is defined as the credit spread sensitivity ratio, and taking values between 0, and 1.

Guideline 68 of the consolidated technical provisions states that Insurance and reinsurance undertakings should establish the future premium cash-flows contained within the contract boundaries at the valuation date and include within the calculation of its best estimate liabilities those future premium cash-flows which fall due after the valuation date.