3.
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Annex II to Implementing Regulation (EU) 2015/2450 is corrected as follows:
(a)
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In template S.01.01.C0010, in rows R0100, R0300 and R0330-R0360, option ‘18 — Not reported as no direct insurance business’ is inserted to the instructions before the option ‘0 — Not reported (in this case special justification is needed)’;
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(b)
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In template S.04.01.C0060, the instructions are replaced by the following:
‘Total of business underwritten through FPS by the undertaking and all EEA branches in EEA countries where they are not established except FPS by branches in the home country of the undertaking.
This shall be the sum of C0100 for all branches.’;
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(c)
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In template S.12.01.C0020, C0100/R0240, the name of the item is replaced as follows:
‘Gross Best Estimate for Cash flow, Cash out–flow, Future guaranteed benefits’;
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(d)
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In template S.12.01, the instructions for item C0020, C0100/R0240 are replaced by the following:
‘Amount of discounted Cash out–flows (payments to policyholders and beneficiaries) for future guaranteed benefits. Regarding C0020/R0240, line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, “Insurance with profit participation” shall be reported. Regarding C0100/R0240 all future guaranteed benefits relating to accepted reinsurance, regardless of the line of business, shall be reported.’;
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(e)
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In template S.12.01.C0150/R0320, the name of the item is replaced as follows:
‘Technical provisions without transitional on interest rate — Total (Life other than health insurance, including Unit–Linked)’;
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(f)
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In template S.12.01.C0210/R0320, the name of the item is replaced as follows:
‘Technical provisions without transitional on interest rate — Total (Life other than health insurance, including Unit–Linked)’;
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(g)
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In templates S.12.01 and S.17.01, in item Z0030, the second paragraph is deleted;
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(h)
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In template S.12.02, in the general comments, the first paragraph is replaced by the following:
‘This section relates to annual submission of information for individual entities. The template is not due when the thresholds for reporting by country described below are not applicable, i.e. the home country represents 100 % of the sum of the technical provisions calculated as a whole and gross best estimate. When this amount is higher than 90 % but lower than 100 % then only R0010, R0020 and R0030 shall be reported.’;
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(i)
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In template S.12.02, in the third paragraph of the general comments, the numbering is changed in ‘a’ to ‘f’ instead of ‘e’ to ‘j’;
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(j)
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In template S.12.02, in the fourth paragraph of the general comments, the numbering is changed in ‘a’ to ‘d’ instead of ‘k’ to ‘n’;
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(k)
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In template S.14.01.C0010, at the end of the instructions, the following is inserted:
‘In the cases where the same product needs to be reported in more than one row the content of C0010 (and C0090) shall follow the specific pattern:
{ID code of product}/+/{number of version}. For example “AB222/+/3”.’;
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(l)
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In template S.14.01.C0040 at the end of the instructions the following sentence is inserted:
‘For products which are unbundled in more than one row, please report the number of contract in all rows reported.’;
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(m)
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In template S.16.01, in the general comments, points b) and c) of the fourth paragraph (i) are replaced by the following:
‘b)
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Amounts for any currency that represents more than 25 % of the best estimate for the annuity claims provisions on a discounted basis from that non–life line of business; or
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c)
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Amounts for any currency that represents less than 25 % of the best estimate for the annuity claims provisions (discounted basis) from that non–life line of business but more than 5 % of total best estimate for all annuity claims provisions.’;
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(n)
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In template S.16.01.C0020/R0040-R0190, the second sentence is deleted from the instructions;
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(o)
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In template S.16.01.C0030/R0040-R0190, at the end of the instructions, the following is added:
‘This is a part of technical provisions set up during year N (Net movements between new reserves during year N/release of reserves during year N).’;
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(p)
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In template S.17.02, in the general comments, the first paragraph is replaced by the following:
‘This section relates to annual submission of information for individual entities. The template is not due when the thresholds for reporting by country described below are not applicable, i.e. the home country represents 100 % of the sum of the technical provisions calculated as a whole and gross best estimate. When this amount is higher than 90 % but lower than 100 % then only R0010, R0020 and R0030 shall be reported.’;
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(q)
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In template S.19.01, in the general comments, points b) and c) of the fourth paragraph (ii) are replaced by the following:
‘b)
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Amounts for any currency that represents more than 25 % of the gross best estimate of the claims provisions from that non–life line of business; or
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c)
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Amounts for any currency that represents less than 25 % of the gross best estimate of the claims provisions from that non–life line of business but more than 5 % of total gross best estimate of the claims provisions.’;
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(r)
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In template S.19.01.C0170/R0100 to R0260, C0360/R0100 to R0260 and C0560/R0100 to R0260, in the instructions, reference to the ‘R0110’ is replaced by the reference to the ‘R0100’;
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(s)
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In template S.19.01.C0560/R0100 to R0260, the first sentence of the instructions is replaced by the following:
‘Total “Year end” reflects the last diagonal but on a discounted basis (all data referred to last reporting year) from R0100 to R0250.’;
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(t)
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In template S.19.01.C0600 to C0750/R0300 to R0450, the name of the item is replaced as follows:
‘Reinsurance Recoveries (non–cumulative) — Triangle’;
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(u)
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In template S.19.01.C0600 to C0750/R0300 to R0450, the first and the second paragraphs of the instructions are replaced by the following:
‘Triangles for each of the accident/underwriting years from N–14 (and prior) and all previous reporting periods to — including — N (last reporting year) of payments (claims paid by reinsurer plus reinsurance recoverables), reported in the “Gross Claims Paid (non–cumulative)”, covered by a reinsurance contract.
The amounts of reinsurance recoverables shall be considered after the adjustment for the counterparty default.’;
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(v)
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In template S.19.01.C0760/R0300 to R0460, C0960/R0300 to R0460 and C1160/R0300 to R0460, in the instructions, the reference to the ‘R0310’ is replaced by the reference to the ‘R0300’;
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(w)
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In template S.19.01.C1160/R0300 to R0460, the name of the item is replaced as follows:
‘Reinsurance RBNS Claims — Year end (discounted data)’;
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(x)
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In template S.19.01.C1160/R0300 to R0460, the first sentence of the instructions is replaced by the following:
‘Total “Year end” reflects the last diagonal but on a discounted basis (all data referred to last reporting year) from R0300 to R0450.’;
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(y)
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In template S.19.01.C1360/R0500 to R0660, C1560/R0500 to R0660 and C1760/R0500 to R0660, in the instructions, the reference to the ‘R0510’ is replaced by the reference to the ‘R0500’;
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(z)
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In template S.19.01.C1560/R0500 to R0660, the first sentence of the instructions is replaced by the following:
‘Total “Year end” reflects the last diagonal but on a discounted basis (all data referred to last reporting year) from R0500 to R0650.’;
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(aa)
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In template S.19.01.C1760/R0500 to R0660, the name of the item is replaced as follows:
‘Net RBNS Claims — Year end (discounted data)’;
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(bb)
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In template S.19.01.C1760/R0500 to R0660, the first sentence of the instructions is replaced by the following:
‘Total “Year end” reflects the last diagonal but on a discounted basis (all data referred to last reporting year) from R0500 to R0650.’;
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(cc)
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In template S.20.01, at the end of the second sentence of the third paragraph, in the general comments, the following is inserted: ‘by Line of Business’;
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(dd)
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In template S.22.01, the second sentence of the third paragraph in the general comments is replaced by the following:
‘For that purpose, a cumulative step–by–step approach shall be followed taking out each transitional and LTG measure one by one and without recalculating the impact of the remaining measures after each step.’;
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(ee)
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In template S.22.01.C0020, in rows R0100 to R0110, at the end of the instructions, a new paragraph is inserted:
‘If transitional deduction to technical provisions is not applicable report the same amount as in C0010.’;
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(ff)
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In template S.22.01.C0040, in rows R0100 to R0110, at the end of the instructions, a new paragraph is inserted:
‘If transitional adjustment to the relevant risk-free interest rate term structure is not applicable report the same amount as in C0020.’;
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(gg)
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In template S.22.01.C0030/R0100, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the eligible own funds to meet MCR calculated considering the technical provisions without transitional deduction to technical provisions and the eligible own funds to meet MCR calculated with the technical provisions with LTG and transitional measures.’;
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(hh)
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In template S.22.01.C0050/R0100, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the eligible own funds to meet MCR calculated considering the technical provisions without transitional adjustment to the relevant risk-free interest rate term structure and the eligible own funds to meet MCR calculated with the technical provisions reported under C0020.’;
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(ii)
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In template S.22.01.C0070/R0100, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the eligible own funds to meet MCR calculated considering the technical provisions without volatility adjustment and without other transitional measures and the eligible own funds to meet MCR calculated with the technical provisions reported under C0040.’;
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(jj)
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In template S.22.01.C0090/R0100, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the eligible own funds to meet MCR calculated considering the technical provisions without matching adjustment and without all the other transitional measures and the eligible own funds to meet MCR calculated with the technical provisions reported under C0060.’;
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(kk)
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In template S.22.01.C0030/R0110, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the MCR calculated considering the technical provisions without transitional deduction to technical provisions and the MCR calculated with the technical provisions with LTG and transitional measures.’;
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(ll)
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In template S.22.01.C0050/R0110, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the MCR calculated considering the technical provisions without transitional adjustment to the relevant risk-free interest rate term structure and MCR calculated with the technical provisions reported under C0020.’;
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(mm)
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In template S.22.01.C0070/R0110, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the MCR calculated considering the technical provisions without volatility adjustment and without other transitional measures and the MCR calculated with the technical provisions reported under C0040.’;
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(nn)
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In template S.22.01.C0090/R0110, the second paragraph of the instructions is replaced by the following:
‘It shall be the difference between the MCR calculated considering the technical provisions without matching adjustment and without all the other transitional measures and the MCR calculated with the technical provisions reported under C0060.’;
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(oo)
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In template S.22.01.C0060, in rows R0100 to R0110, at the end of the instructions a new paragraph is inserted as follows:
‘If volatility adjustment is not applicable report the same amount as in C0040.’;
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(pp)
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In template S.22.01.C0070, in rows R0100 to R0110, all the references to the ‘maximum between the’ and ‘C0010, C0020 and’ are deleted;
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(qq)
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In template S.22.01.C0080, in rows R0100 to R0110, at the end of the instructions, a new paragraph is inserted:
‘If matching adjustment is not applicable report the same amount as in C0060.’;
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(rr)
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In template S.22.01.C0090, in rows R0100 to R0110, all the references to the ‘maximum between the’ and ‘C0010, C0020, C0040 and’ are deleted;
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(ss)
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In template S.22.05, in C0010/R0010, the second paragraph of the instructions is replaced as follows:
‘If a re–calculation was requested on the basis of Article 308d(3) of the Directive 2009/138/EC this calculation shall consider only those insurance and reinsurance obligations subject to the transitional and that still exist at the recalculation reference date valued at the reporting date (Solvency II value reducing the contracts not existing anymore).’;
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(tt)
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In template S.22.05 in C0010/R0020 the second paragraph of the instructions is deleted;
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(uu)
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In template S.22.05 in C0010/R0030 and C0010/R0040 the second paragraph of the instructions is replaced as follows:
‘If a re–calculation was requested on the basis of Article 308d(3) of the Directive 2009/138/EC this calculation shall consider only those insurance and reinsurance obligations subject to the transitional and that still exist at the recalculation reference date valued at the reporting date (Solvency II value minus contracts not existing anymore).’;
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(vv)
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In template S.22.05, in C0010/R0050, the instructions are replaced as follows:
‘Amount of technical provisions, subject to transitional deduction to technical provisions, after deduction of the amounts recoverable from reinsurance contracts calculated in accordance with the laws, regulations and administrative provisions which are adopted pursuant to Article 15 of Directive 73/239/EEC, Article 20 of Directive 2002/83/EC and Article 32 of Directive 2005/68/EC on the day before those Directives are repealed pursuant to Article 310 of Directive 2009/138/EC.
If a re–calculation was requested on the basis of Article 308d(3) of the Directive 2009/138/EC this calculation shall consider only those insurance and reinsurance obligations existing at the recalculation reference date.’;
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(ww)
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In template S.22.05.C0010/R0070, the instructions are replaced by the following:
‘Amount of the adjustment to the technical provisions after any limitation applied in accordance to Article 308d(4) of the Directive 2009/138/EC, if applicable.
If no limitation the same amount as in R0060 shall be reported.’;
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(xx)
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In template S.27.01.C0890/R2750, in the item column, the word ‘follwoing’ is replaced by the word ‘following’;
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(yy)
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In template S.28.02.C0130/R0350, at the end of the sentence, in the instructions, the text is inserted as follows:
‘and Article 253 of the Delegated Regulation (EU) 2015/35’;
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(zz)
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In template S.28.02.C0140/R0550 and C0150/R0550, at the end of the sentence, in the instructions, a text is inserted as follows:
‘before considering Article 253 of the Delegated Regulation (EU) 2015/35’;
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(aaa)
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In template S.29.03.C0100-C0110/R0320 and C0100-C0110/R0330, in the instructions, references to the ‘best estimate’ are replaced by the ‘closing best estimate’;
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(bbb)
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In template S.29.04, at the beginning of the second paragraph of the general comments, the second ‘shall’ is deleted;
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(ccc)
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In template S.29.04, after the second paragraph of the general comments, a third paragraph is inserted as follows:
‘Undertakings are required to report data on an accident year or underwriting year basis, in accordance with any requirements of the National Supervisory Authority. If the National Supervisory Authority has not stipulated which to use then the undertaking may use accident or underwriting year according to how they manage each line of business, provided that they use the same year consistently, year on year.’;
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(ddd)
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In template S.29.04.Z0010, the last two lines at the end of the closed list in the instructions are replaced as follows:
‘37 — Life (including lines of business 30, 31, 32, 34 and 36, as defined in Annex I to Delegated Regulation (EU) 2015/35)
38 — Health SLT (including lines of business 29, 33 and 35)’;
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(eee)
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In template S.29.04.C0020/R0040, the name of the item is replaced as follows:
‘Variation of BE’;
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(fff)
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In template S.29.04.C0030/R0110, at the end of the first sentence of the first paragraph of the instructions, the following is inserted:
‘if the analysis in S.29.03 is performed on a line of business basis.’;
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(ggg)
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In template S.29.04.C0040/R0110, at the end of the sentence, in the second paragraph of the instructions, the following text is inserted:
‘if the analysis in S.29.03 is performed on a line of business basis.’;
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(hhh)
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In template S.29.04.C0050/R0110, in the item column, the wording ‘due to year N projected in and out flows’ is deleted;
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(iii)
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In template S.30.01 and S.30.02, in the second table of the template (that is referring to the facultative covers for life business), item Z0010 is replaced by Z0020;
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(jjj)
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In template S.30.01.C0030, S.30.01.C0200, S.30.02.C0030 and S.30.02.C0160, at the end of the instructions, a second and a third paragraph are inserted as follows:
‘This code once assigned shall not be reused for another risk even when the risk to which the code was originally assigned does not exist anymore.
When one risk affects more than one line of business the same code can be used for all the lines of business affected.’;
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(kkk)
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In template S.30.01.C0130, at the end of the instructions, a second paragraph is inserted as follows:
‘In the case of unlimited sum insured, the “Sum insured” shall be an estimation of the expected possible loss (calculated using the same methods as used for the calculation of the premium, which shall reflect the actual risk exposure).’;
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(lll)
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In template S.30.02, in the general comments, at the end of the fourth paragraph, the following is added:
‘Where a facultative cover as reported in template S.30.01 is related to more than one reinsurance undertaking, this template shall be filled in with as many rows as the number of reinsurance undertakings involved for the specific facultative cover.’;
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(mmm)
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In template S.30.02.C0050, at the end of the instructions, a second and a third paragraph are inserted as follows:
‘In case a specific code is attributed by the undertaking, the code shall be unique for the specific reinsurer or broker and shall not overlap with any other code, attributed by the undertaking or LEI code.
In the cases where a code already exists (e.g. national identifier), the same code is used as this identifier and shall be kept consistently over time until a LEI code exists.’;
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(nnn)
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In template S.30.02.C0330, the instructions are replaced as follows:
‘Rating of the reinsurer at the reporting reference date as provided by the nominated credit assessment institution (ECAI).
If the rating is not available the item shall be left blank.’;
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(ooo)
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In template S.30.03.C0170 and C0180, in the last sentence of the instructions after the ‘This item is reported’ a text is inserted as follows:
‘, when applicable,’;
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(ppp)
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In template S.30.03.C0370, at the end of the first sentence of the instructions, the wording ‘or NA for not applicable’ is deleted;
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(qqq)
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In template S.30.04.C0230, the first paragraph of the instructions is replaced by the following:
‘Rating of the reinsurer at the reporting reference date as provided by the nominated credit assessment institution (ECAI).’;
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(rrr)
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In template S.30.04.C0230, after the first paragraph in the instructions a new paragraph is inserted as follows:
‘If the rating is not available the item shall be left blank.’.
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