Regulatory Alerts2021-08-06
Added · Updated
Commission Implementing Regulation (EU) 2021/1354 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 reference dates between 30 June 2021 and 29 September 2021. This Regulation requires the use of relevant risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments as set out in Annexes I, II, and III. The rules apply to all insurance and reinsurance undertakings in EU Member States and entered into force on 14 August 2021.