Information about the announcement

Department

Department B

Institution

Central Bank of Iceland

Subject area

European Economic Area, Financial activity, Insurance, Reinsurance

Date of signature

29 October 2026

Date of publication

13 November 2026

If there is a difference between the presentation of the text below and in the PDF document, the PDF document applies.

No. 1207/2026
29 October 2026

RULES regarding the calculation of insurance liabilities and basic solvency with reference dates from 30 June 2026 to 29 September 2026.

Article 1. Scope.

These rules apply to the activities of domestic insurance companies and the activities of foreign insurance companies in this country, cf. Articles 2 and 3 of the Act on Insurance Activities, No. 100/2016.

Article 2. Information on the risk-free interest rate term structure for the relevant currencies.

According to the first paragraph of Article 76 of the Act on Insurance Activities, No. 100/2016, insurance liabilities shall be the sum of the best estimate of liabilities and the risk margin. These rules are set to implement the Commission Implementing Regulation (EU) which sets out technical information on the risk-free interest rate term structure for the relevant currencies in accordance with the second paragraph of Article 76 of Act No. 100/2016.

Article 3. Implementation of the regulation.

With these rules, Commission Implementing Regulation (EU) 2026/2041 of 11 September 2026 on technical information for the calculation of insurance liabilities and basic solvency for data submissions with reference dates from 30 June 2026 to 29 September 2026 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance, which was incorporated into the EEA Agreement by Decision of the EEA Joint Committee No. 306/2026 of 23 October 2026, enters into force in this country. With reference to the authorization of the first paragraph of Article 78 of Act No. 100/2016, the Central Bank of Iceland refers to the publication of an English version of the Commission Implementing Regulation (EU) in the Official Journal of the European Union: Stjtíð. EU, Department L, 2026/2041, on 14 September 2026.

Article 4. Entry into force.

These rules, which are set with authorization in the first paragraph of Article 78 of the Act on Insurance Activities, No. 100/2016, enter into force immediately.

Central Bank of Iceland, 29 October 2026.
Björk Sigurgísladóttir
Deputy Governor of Financial Supervision.
Linda Kolbrún Björgvinsdóttir
Managing Director.

Department B — Date of publication: 13 November 2026