Circular Letter ST.15-00815 — Statistical Reporting by Insurance Companies

2, boulevard Royal L-2983 Luxembourg Fax (+352) 4774-4943 E-mail: reporting.assurance@bcl.lu ./.
Ref.: ST.15-0815 Luxembourg, November 25, 2015 To all insurance companies Subject: Statistical Reporting by Insurance Companies

Dear Sirs, Madams,

We have the honor to refer to Circular BCL/2015/239 by which the BCL introduced a statistical collection from insurance companies.

In this context, we wish to inform you of the publication of Circular BCL 2015/239 as well as the detailed instructions for establishing statistical reporting intended for the BCL, available in French and English on the BCL website at the following address:
http://www.bcl.lu/

In application of point 2.2 of the aforementioned circular and of Article 3 paragraph 2 of European Central Bank (ECB) Regulation No 1734/2014 of November 28, 2014, on statistical reporting obligations applicable to insurance companies (ECB/2014/50), the BCL must collect data concerning the reference reporting population. To this end, the BCL has established a form available on its website. We kindly ask you to complete this form and transmit it by December 15, 2015, via email to the following address:
reporting.assurance@bcl.lu

2, boulevard Royal L-2983 Luxembourg Fax (+352) 4774-4943 E-mail: reporting.assurance@bcl.lu ./.
Furthermore, in accordance with point 3.4.2 of the aforementioned circular and in application of Article 7 of ECB Regulation ECB/2014/50, the BCL intends to exempt certain insurance companies from monthly and quarterly statistical reporting obligations.

In this context, the BCL establishes collection thresholds according to the three sub-sectors: (i) Life insurance, (ii) Non-life insurance, (iii) Reinsurance. Insurance companies whose characteristics exceed the thresholds are required to submit the full reporting to the BCL. The thresholds were calculated based on 2014 accounts and apply to the year 2016:

Technical reserves in millions of euros
Life insurance 1,000
Reinsurance 50

Gross premiums in millions of euros
Non-life insurance 30

Thus, for example, all life insurance companies whose technical reserves exceeded the threshold of 1,000 million euros are subject to the BCL statistical reporting for the year 2016. The BCL will inform reporting agents of the detailed modalities for the application of the thresholds via a specific circular letter.

Finally, we wish to remind you that the annual declaration is mandatory for all insurance companies.

For any further questions, we invite you to contact the BCL by sending an email to reporting.assurance@bcl.lu.

2, boulevard Royal L-2983 Luxembourg Fax (+352) 4774-4943 E-mail: reporting.assurance@bcl.lu ./.

We thank you in advance for your kind cooperation and ask you to accept, Sirs, Madams, the expression of our distinguished consideration.

BANQUE CENTRALE DU LUXEMBOURG
Cédric Arnould Philippe Arondel
Statistician Head of the Economic and Financial Statistics Section

Annex: 1

• Circular BCL/2015/239