Regulations amending Finansinspektionen’s regulations on annual accounts at insurance undertakings and institutions for occupational retirement provision

Finansinspektionen’s Regulatory Code
Publisher: Chief Legal Counsel Eric Leijonram, Finansinspektionen, www.fi.se ISSN 1102-7460 This translation is furnished solely for information purposes. Only the printed version of the regulation in Swedish applies for the application of the law. Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2019:23) regarding annual accounts at insurance undertakings and institutions for occupational retirement provision decided on 26 January 2021. Finansinspektionen prescribes pursuant to sections 4 and 8 of the Annual Accounts at Credit Institutions, Securities Companies and Insurance Undertakings Ordinance (1995:1600) that Appendix 1 and section 30 of Appendix 3 to Finansinspektionen’s regulations and general guidelines (FFFS 2019:23) regarding annual accounts at insurance undertakings and institutions for occupational retirement provision shall have the following wording. _______________ These regulations shall enter into force on 09 February 2021 and apply to financial years commencing after 31 December 2020. ERIK THEDÉEN Greta Wennerberg FFFS 2021:1 Published on 01 February 2021

FFFS 2021:1
Appendix 1
Layout of the balance sheet
Assets
A. Subscribed capital unpaid
B. Intangible assets
I. Goodwill
II. Other intangible assets
C. Investment assets
I. Land and buildings
II. Investments in group companies, associated companies, joint
ventures and other undertakings in which there is a participating interest

1. Shares and participations in group companies
2. Interest-bearing securities issued by, and lending to, group
   companies
3. Shares and participations in associated companies and joint
   ventures.
4. Interest-bearing securities issued by, and lending to, associated
   companies and joint ventures
5. Shares and participations in other undertakings in which there is a
   participating interest
6. Interest-bearing securities issued by, and lending to, other
   undertakings in which there is a participating interest
   III. Other financial investment assets
7. Shares and participations
8. Bonds and other interest-bearing securities
9. Shares in investment pools
10. Mortgage loans
11. Other loans
12. Lending to credit institutions
13. Other financial investment assets
    IV. Deposit accounts with undertakings that have ceded reinsurance
    D. Investment assets for which the life insurance policyholder bears the investment risk
14. Assets for conditional bonuses
15. Unit-linked insurance assets
    E. Reinsurers’ share of technical provisions
16. Unearned premiums and unexpired risks
17. Life insurance provision
18. Outstanding claims
19. Bonuses and rebates
20. Other technical provisions
21. Provision for life insurance policies for which the policyholder bears
    the risk a) Conditional bonuses b) Unit-linked insurance commitments F. Receivables
    I. Claims pertaining to direct insurance

FFFS 2021:1
II. Claims pertaining to reinsurance
III. Other claims
G. Other assets
I. Property, plant and equipment and inventories
II. Cash and bank balances
III. Other assets
H. Prepaid expenses and accrued income
I. Accrued interest and rental income
II. Deferred acquisition costs
III. Other prepaid expenses and accrued income
TOTAL ASSETS
Equity, provisions and liabilities
AA) Equity
I. Share capital or Guarantee capital
I.a. Operating capital
I.b. Non-member contributions
II. Share premium reserves

1. Restricted share premium reserve
2. Non-restricted share premium reserve
   III. Revaluation reserve
   IV. Consolidation reserve
   V. Other reserves
3. Statutory reserve
4. Equity method reserve
5. Fair value reserve
6. Development expenditure reserve
7. Other reserves
   V.a. Principal-linked and dividend-linked participating debentures
   VI. Profit or loss brought forward
   VII. Profit/loss for the year
   BB. Untaxed reserves
   CC. Subordinated liabilities
   DD. Technical provisions (before ceded reinsurance)
8. Unearned premiums and unexpired risks
9. Life insurance provision
10. Outstanding claims
11. Bonuses and rebates
12. Equalisation reserve
13. Other technical provisions
    EE. Technical provision for life insurance policies for which the policyholder bears the risk (before ceded reinsurance)
14. Conditional bonuses
15. Unit-linked insurance commitments
    FF. Other provisions
16. Pensions and similar obligations
17. Taxes

FFFS 2021:1
3. Other provisions
GG. Deposit accounts from reinsurers
HH. Liabilities
I. Liabilities pertaining to direct insurance
II. Liabilities pertaining to reinsurance
III. Bond loans
IV. Liabilities to credit institutions
IV.b Principal-linked and dividend-linked participating debentures
V. Other liabilities
II. Accrued expenses and prepaid income
I. Reinsurers’ share of deferred acquisition costs
II. Other accrued expenses and prepaid income
TOTAL EQUITY, PROVISIONS AND LIABILITIES

FFFS 2021:1
Appendix 3
Section 30 Item AA (II) – Share premium reserves. The share premium reserves
for share issues is reported under this item. Restricted and non-restricted share premium reserves are recognised separately, cf. Chapter 3, section 2 of the Annual Accounts at Insurance Undertakings Act (1995:1560) and Chapter 3, section 5a of the Annual Accounts Act (1995:1554). Insurance companies that are permitted to issue dividends recognise funds that have been added to the share premium reserve prior to 1 April 2011 under the statutory reserve. An insurance company that converts itself into an occupational pension company that is permitted to issue dividends continues to recognise funds that have been added to the share premium reserve prior to 1 April 2011 under the statutory reserve.