Article 4
Risk-based reporting thresholds
1. Insurance and reinsurance undertakings, captive insurance and captive reinsurance undertakings, participating insurance and reinsurance undertakings, insurance holding companies and mixed financial holding companies shall not be required by the supervisory authorities to submit annually the information referred to in Articles 35 of Directive 2009/138/EC to which a risk-based reporting threshold applies when that threshold is not exceeded in both the current and the previous reporting year.
2. Insurance and reinsurance undertakings, captive insurance and captive reinsurance undertakings, participating insurance and reinsurance undertakings, insurance holding companies and mixed financial holding companies that do not exceed the applicable risk-based reporting thresholds as defined in the previous paragraph shall be exempted from reporting the information referred to in Article 35 of Directive 2009/138/EC for which risk-based thresholds are identified in this Implementing Regulation for the current and the following reporting year.
3. Insurance and reinsurance undertakings, captive insurance and captive reinsurance undertakings, participating insurance and reinsurance undertakings, insurance holding companies and mixed financial holding companies that exceed the applicable risk-based reporting thresholds as defined in paragraph 1 shall report information referred to in Article 35 of Directive 2009/138/EC for which risk-based thresholds are identified in this Implementing Regulation for the current reporting year and reassess whether the thresholds are not exceeded in the following reporting year.
4. Captive insurance undertakings which fulfil all of the following conditions shall use the templates as set out in Articles 7, 9, 11, 13, 14, 16, 18, 20, 22, 24 and 25 of this Regulation:
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a) |
in relation to the insurance obligations, all insured and beneficiaries are legal entities of the group to which the captive insurance undertaking belongs or are natural persons eligible to be covered under the group insurance policies as long as the business covering natural persons remains below 5 % of technical provisions; |
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b) |
the insurance obligations and the insurance contracts underlying the reinsurance obligations do not relate to any compulsory third party liability insurance. |
5. Captive reinsurance undertakings which fulfil all of the following conditions shall use the templates as set out in Articles 7, 9, 12, 15, 17, 19, 21, 22 and 25 of this Regulation:
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a) |
the conditions in points a) and b) of previous paragraph; |
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b) |
loans in place with the parent or any group company, including groups cashpools do not exceed 20 % of Total Assets held by the captive reinsurance undertaking; |
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c) |
the maximum loss resulting from the gross technical provisions can be deterministically assessed without the use of stochastic methods. |