|
|
Section 1 General provisions (arts. 17-18) |
|
|
Article 17 Recognition and derecognition of insurance and reinsurance obligations |
|
|
Article 18 Boundary of an insurance or reinsurance contract |
|
|
Section 2 Data quality (arts. 19-21) |
|
|
Article 19 Data used in the calculation of technical provisions |
|
|
Article 20 Limitations of data |
|
|
Article 21 Appropriate use of approximations to calculate the best estimate |
|
|
Section 3 Methodologies to calculate technical provisions (arts. 22-42) |
|
|
Subsection 1 Assumptions underlying the calculation of technical provisions (arts. 22-26) |
|
|
Article 22 General provisions |
|
|
Article 23 Future management actions |
|
|
Article 24 Future discretionary benefits |
|
|
Article 25 Separate calculation of the future discretionary benefits |
|
|
Article 26 Policyholder behaviour |
|
|
Subsection 2 Information underlying the calculation of best estimates (art. 27) |
|
|
Article 27 Credibility of information |
|
|
Subsection 3 Cash flow projections for the calculation of the best estimate (arts. 28-36) |
|
|
Article 28 Cash flows |
|
|
Article 29 Expected future developments in the external environment |
|
|
Article 30 Uncertainty of cash flows |
|
|
Article 31 Expenses |
|
|
Article 32 Contractual options and financial guarantees |
|
|
Article 33 Currency of the obligation |
|
|
Article 34 Calculation methods |
|
|
Article 35 Homogeneous risk groups of life insurance obligations |
|
|
Article 36 Non-life insurance obligations |
|
|
Subsection 4 Risk margin (arts. 37-39) |
|
|
Article 37 Calculation of the risk margin |
|
|
Article 38 Reference undertaking |
|
|
Article 39 Cost-of-Capital rate |
|
|
Subsection 5 Calculation of technical provisions as a whole (art. 40) |
|
|
Article 40 Circumstances in which technical provisions shall be calculated as a whole and the method to be used |
|
|
Subsection 6 Recoverables from reinsurance contracts and special purpose vehicles (arts. 41-42) |
|
|
Article 41 General provisions |
|
|
Article 42 Counterparty default adjustment |
|
|
Section 4 Relevant risk-free interest rate term structure (arts. 43-54) |
|
|
Subsection 1 General provisions (art. 43) |
|
|
Article 43 General provisions |
|
|
Subsection 2 Basic risk free interest rate term structure (arts. 44-48) |
|
|
Article 44 Relevant financial instruments to derive the basic risk-free interest rates |
|
|
Article 45 Adjustment to swap rates for credit risk |
|
|
Article 46 Extrapolation |
|
|
Article 47 Ultimate forward rate |
|
|
Article 48 Basic risk-free interest rate term structure of currencies pegged to the euro |
|
|
Subsection 3 Volatility adjustment (arts. 49-51) |
|
|
Article 49 Reference portfolios |
|
|
Article 50 Formula to calculate the spread underlying the volatility adjustment |
|
|
Article 51 Risk-corrected spread |
|
|
Subsection 4 Matching adjustment (arts. 52-54) |
|
|
Article 52 Mortality risk stress |
|
|
Article 53 Calculation of the matching adjustment |
|
|
Article 54 Calculation of the fundamental spread |
|
|
Section 5 Lines of business (art. 55) |
|
|
Article 55 Lines of business |
|
|
Section 6 Proportionality and simplifications (arts. 56-61) |
|
|
Article 56 Proportionality |
|
|
Article 57 Simplified calculation of recoverables from reinsurance contracts and special purpose vehicles |
|
|
Article 58 Simplified calculation of the risk margin |
|
|
Article 59 Calculations of the risk margin during the financial year |
|
|
Article 60 Simplified calculation of the best estimate for insurance obligations with premium adjustment mechanism |
|
|
Article 61 Simplified calculation of the counterparty default adjustment |
