Commission Implementing Regulation (EU) 2017/2190Dangos y teitl llawn

Commission Implementing Regulation (EU) 2017/2190 of 24 November 2017 amending and correcting Implementing Regulation (EU) 2015/2452 laying down implementing technical standards with regard to the procedures, formats and templates of the solvency and financial condition report according to Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)

ANNEX IU.K.

1.Both Annexes II and III to Implementing Regulation (EU) 2015/2452 are amended as follows:U.K.

(a)

In section S.05.01, General comments, the second paragraph is replaced by the following:

‘This template shall be reported from an accounting perspective, i.e.: Local GAAP or IFRS if accepted as local GAAP but using SII lines of business. Undertakings shall use the recognition and valuation basis as for the published financial statements, no new recognition or re-valuation is required except for the classification between investment contracts and insurance contracts when this is applicable in the financial statements. This template shall include all insurance business regardless of the possible different classification between investment contracts and insurance contracts applicable in the financial statements.’

2.Annex II to Implementing Regulation (EU) 2015/2452 is amended as follows:U.K.

(a)

In section S.05.02 — General comments — the third paragraph is replaced by the following:

‘The template is based on a year-to-date basis. Undertakings shall use the recognition and valuation basis as for the published financial statements, no new recognition or re-valuation is required except for the classification between investment contracts and insurance contracts when this is applicable in the financial statements. This template shall include all insurance business regardless of the possible different classification between investment contracts and insurance contracts applicable in the financial statements.’

3.Annex III to Implementing Regulation (EU) 2015/2452 is amended as follows:U.K.

(a)

In section S.05.02 — General comments — the second paragraph is replaced by the following:

‘This template shall be disclosed from an accounting perspective, i.e.: Local GAAP or IFRS if accepted as local GAAP. The template is based on a year-to-date basis. Undertakings shall use the recognition and valuation basis as for the published financial statements, no new recognition or re-valuation is required except for the classification between investment contracts and insurance contracts when this is applicable in the financial statements. This template shall include all insurance business regardless of the possible different classification between investment contracts and insurance contracts applicable in the financial statements.’