Regulatory Alerts2021-02-08
Added · Updated
Commission Implementing Regulation (EU) 2021/178 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 for calculating technical provisions and basic own funds for reporting reference dates from 31 December 2020 until 30 March 2021. This requirement applies the risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments set out in the regulation's annexes. The regulation entered into force on 17 February 2021 and applies retroactively from 31 December 2020.