Regulatory Alerts2022-09-23
Implementation of EIOPA Guidelines on the Calculation of Technical Provisions and Determination of Contract Boundaries under Directive 2009/138/EC
The Prudential Supervision and Resolution Authority (ACPR) has declared its compliance with the European Insurance and Occupational Pensions Authority (EIOPA) guidelines regarding the calculation of technical provisions and the determination of contract boundaries. These guidelines clarify various aspects of technical provision calculations and contract boundary determinations for insurance and reinsurance undertakings. The ACPR confirms that these undertakings must take all necessary measures to comply with these guidelines in accordance with Article 16 of Regulation (EU) No 1094/2010.
OPINION Implementation of the European Insurance and Occupational Pensions Authority (EIOPA) Guidelines on the calculation of technical provisions and the determination of contract boundaries under Directive 2009/138/EC, Regulation (EU) No 2015/35, and EIOPA-BoS-22/218 and EIOPA-BoS-22/217
The Prudential Supervision and Resolution Authority has declared itself compliant with the guidelines of the European Insurance and Occupational Pensions Authority (EIOPA-BoS-22/218 and EIOPA-BoS-22/217) on the calculation of technical provisions and the determination of contract boundaries.
These guidelines specify various aspects of the calculation of technical provisions as well as the determination of contract boundaries.
These guidelines are applicable to insurance and reinsurance undertakings which must take all measures to comply with them, in accordance with the provisions of Article 16 of Regulation (EU) No 1094/2010 establishing the European Insurance and Occupational Pensions Authority.