Regulatory Alerts2023-02-09
Added · Updated
Commission Implementing Regulation (EU) 2023/266 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 31 December 2022 until 30 March 2023. This requirement applies the risk-free interest rate term structures, fundamental spreads for matching adjustments, and volatility adjustments published by EIOPA based on end-December 2022 market data. The Regulation entered into force on 11 February 2023 and applies retroactively from 31 December 2022 to ensure uniform calculation conditions across the EU.