Regulatory Alerts2017-08-02
Added · Updated
Commission Implementing Regulation (EU) 2017/1421 laying down technical information for the calculation of technical provisions and basic own funds
The European Commission mandates that insurance and reinsurance undertakings use specific technical information to calculate technical provisions and basic own funds for reporting periods with reference dates from 30 June to 29 September 2017. This requirement applies the risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments published by the European Insurance and Occupational Pensions Authority based on end-of-June 2017 market data. The Regulation entered into force on 6 August 2017 and applies retroactively from 30 June 2017 to ensure uniform calculation conditions across the Union.