Regulatory Alerts2017-10-11
Regulations amending simplified annual reporting in insurance undertakings granted dispensation
Finansinspektionen issued regulations amending FFFS 2011:27 to update simplified annual reporting requirements for insurance undertakings granted dispensation. The amendments permit the merging of negligible balance sheet and income statement items, introduce a development expenditure fund for in-house development costs, and allow the omission of specific notes regarding management positions and assets. Additionally, the rules clarify the measurement of technical provisions and financial instruments while reducing the multi-year overview requirement to the current and three preceding financial years. These regulations entered into force on 31 March 2016 and apply to financial years starting after 31 December 2015.
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