EC Regulation on Calculation of Technical Provisions Under Solvency II

By Regulatory News

July 31, 2019

Solvency II, Regulatory Reporting: EU

EC published the Implementing Regulation (EU) 2019/1285 that lays down technical information for the calculation of technical provisions and basic own funds for reporting, with reference dates from June 30, 2019 until September 29, 2019, in accordance with the Solvency II Directive (2009/138/EC). Regulation (EU) 2019/1285 shall enter into force on the day following that of its publication in the Official Journal of the European Union. It shall apply from June 30, 2019.

For each relevant currency, the technical information used to calculate the best estimate in accordance with Article 77 of Solvency II Directive, the matching adjustment in accordance with Article 77c of Solvency II Directive, and the volatility adjustment in accordance with Article 77d of that Directive shall be the following:

The relevant risk-free rate term structures set out in Annex I of Regulation (EU) 2019/1285
The fundamental spreads for the calculation of the matching adjustment set out in Annex II of Regulation (EU) 2019/1285
For each relevant national insurance market, the volatility adjustments set out in Annex III of Regulation (EU) 2019/1285

Related Links

Effective Date: August 01, 2019

Keywords: Europe, EU, Insurance, Solvency II, Reporting, Technical Information, Own Funds, Risk-Free Rates, Matching Adjustment, Volatility, Adjustment, Regulation 2019/1285, EC

Featured Experts

FASB Proposes to Improve Guidance for Certain Financial Instruments


News EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9. January 16, 2020 WebPage Regulatory News
News FDIC and OCC Issue Statement on Heightened Cyber Security Risk In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk. January 16, 2020 WebPage Regulatory News
News BCRA Updates Regulation on Capital Requirements and Information Regime BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision. January 16, 2020 WebPage Regulatory News
News BoE and FCA Outline Next Steps for LIBOR Transition in 2020 BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020. January 16, 2020 WebPage Regulatory News
News BIS to Expand Central Bank Membership BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities. January 14, 2020 WebPage Regulatory News
News EIOPA Issues Technical Specifications for Market and Credit Risk Study EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019. January 13, 2020 WebPage Regulatory News
News FED Publishes FAQs on Tailoring Rules for Banks FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions. January 13, 2020 WebPage Regulatory News
News IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business. January 13, 2020 WebPage Regulatory News
News FDIC Letter on Submission of Call Reports by End of January 2020 FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2019 report date must be submitted to the Central Data Repository of the relevant US agencies by January 30, 2020. January 13, 2020 WebPage Regulatory News
News EBA Consults on Calculation of Own Funds Requirements for Market Risk EBA is consulting on the draft regulatory technical standards for calculation of the own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework. January 13, 2020 WebPage Regulatory News

RESULTS 1 - 10 OF 4492