Regulatory Alerts2024-02-07
Added · Updated
Commission Implementing Regulation (EU) 2024/456 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 from 31 December 2023 until 30 March 2024. This Regulation requires the use of relevant risk-free interest rate term structures, fundamental spreads for the matching adjustment, and volatility adjustments as set out in Annexes I, II, and III. The rules apply to all insurance and reinsurance undertakings in the EU and entered into force on 9 February 2024.
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