Erscheinung:04.12.2015 Solvency II: Interpretative decisions on quantitative requirements
The Federal Financial Supervisory Authority (BaFin) has published twelve interpretative decisions on its website concerning the application of quantitative requirements (Pillar I) under Solvency II.
BaFin had already published corresponding Explanations in May 2014 related to the special features of the German market, such as the special mechanism for profit participation. It has now turned these into interpretative decisions to be applied under Solvency II. The aim is to ensure that insurers apply the Pillar I provisions consistently to the special features of the German market.
Aside from the topics that were already included in the explanations, the interpretative decisions also deal with the calculation of the expected profits in future premiums (EPIFP), the treatment of cash deposits in the assessment for the purposes of the solvency statement and the meaning of the term “disability” in life and health insurance. An additional interpretative decision deals with the procedure for assessing balance sheet assets and liabilities in accordance with Article 9(4) of the Delegated Regulation on Solvency II.
Please note: the interpretative decisions are currently only available in German. An English translation is planned.
