Delegated regulation 2015/35 - Supplement to Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

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Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Sources and disclaimer
  6. Full version
  7. EU Monitor

1.

Current status

This delegated regulation has been published on January 17, 2015 and entered into force on January 18, 2015.

2.

Key information

official title

Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing 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 (Solvency II) Text with EEA relevance
 
Legal instrument delegated regulation
Number legal act Delegated regulation 2015/35
CELEX number i 32015R0035

3.

Key dates

Document 10-10-2014
Publication in Official Journal 17-01-2015; OJ L 12 p. 1-797
Effect 18-01-2015; Entry into force Date pub. +1 See Art 381
End of validity 31-12-9999

4.

Legislative text

17.1.2015   

EN

Official Journal of the European Union

L 12/1
 

COMMISSION DELEGATED REGULATION (EU) 2015/35

of 10 October 2014

supplementing 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 (Solvency II)

(Text with EEA relevance)

TABLE OF CONTENTS

 

TITLE I

VALUATION AND RISK-BASED CAPTAL REQUIREMENTS (PILLAR I), ENHANCED GOVERNANCE (PILLAR II) AND INCREASED TRANPARENCY (PILLAR III)

20
 

CHAPTER I

General provisions

20
 

SECTION 1

Definitions and general principles

20
 

SECTION 2

External credit assessments

24
 

CHAPTER II

Valuation of assets and liabilities

25
 

CHAPTER III

Rules relating to technical provisions

29
 

SECTION 1

General provisions

29
 

SECTION 2

Data quality

31
 

SECTION 3

Methodologies to calculate technical provisions

32
 

SUBSECTION 1

Assumptions underlying the calculation of technical provisions

32
 

SUBSECTION 2

Information underlying the calculation of best estimates

34
 

SUBSECTION 3

Cash flow projections for the calculation of the best estimate

35
 

SUBSECTION 4

Risk margin

37
 

SUBSECTION 5

Calculation of technical provisions as a whole

39
 

SUBSECTION 6

Recoverables from reinsurance contracts and special purpose vehicles

39
 

SECTION 4

Relevant risk-free interest rate term structure

40
 

SUBSECTION 1

General provisions

40
 

SUBSECTION 2

Basic risk free interest rate term structure

41
 

SUBSECTION 3

Volatility adjustment

42
 

SUBSECTION 4

Matching adjustment

43
 

SECTION 5

Lines of business

44
 

SECTION 6

Proportionality and simplifications

45
 

CHAPTER IV

Own funds

47
 

SECTION 1

Determination of own funds

47
 

SUBSECTION 1

Supervisory approval of ancillary own funds

47
 

SUBSECTION 2

Own funds treatment of participations

49
 

SECTION 2

Classification of own funds

50
 

SECTION 3

Eligibility of own funds

58
 

SUBSECTION 1

Ring-fenced funds

58
 

SUBSECTION 2

Quantitative limits

59
 

CHAPTER V

Solvency capital requirement standard formula

59
 

SECTION 1

General provisions

59
 

SUBSECTION 1

Scenario based calculations

59
 

SUBSECTION 2

Look-through approach

60
 

SUBSECTION 3

Regional governments and local authorities

60
 

SUBSECTION 4

Material basis risk

60
 

SUBSECTION 5

Calculation of the basic solvency capital requirement

61
 

SUBSECTION 6

Proportionality and simplifications

61
 

SUBSECTION 7

Scope of the underwriting risk modules

72
 

SECTION 2

Non-life underwriting risk module

72
 

SECTION 3

Life underwriting risk module

87
 

SECTION 4

Health underwriting risk module

91
 

SECTION 5

Market risk module

104
 

SUBSECTION 1

Correlation coefficients

104
 

SUBSECTION 2

Interest rate risk sub-module

105
 

SUBSECTION 3

Equity risk...


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This text has been adopted from EUR-Lex.

 

5.

Sources and disclaimer

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6.

Full version

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7.

EU Monitor

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