Regulatory Alerts2017-02-23
Added · Updated
Commission Implementing Regulation (EU) 2017/309 on technical information for calculating technical provisions and basic own funds for reporting from 31 December 2016 to 30 March 2017 under Solvency II
The European Commission mandates that insurance and reinsurance undertakings use specific technical information to calculate technical provisions and basic own funds for reporting reference dates between 31 December 2016 and 30 March 2017. This regulation requires the use of risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments as set out in Annexes I, II, and III. The regulation entered into force on 1 March 2017 and applies retroactively from 31 December 2016 to ensure uniform calculation conditions across the EU.