Commission Implementing Regulation (EU) 2015/2450Show full title

S.36.03 — IGT — Internal reinsurance U.K.

General comments:

This section relates to annual submission of information for groups.

The purpose of this template is to collect information on all IGTs (significant, very significant and transactions required to be reported in all circumstances) related to internal reinsurance within a group identified according to Article 213(2)(a) to (c) of Directive 2009/138/EC. These include, but not limited to:

• reinsurance treaties between related undertakings of a group;

• facultative reinsurance between related undertakings of a group; and

• any other transaction that results in transferring underwriting risk (insurance risk) between related undertakings of a group..

[ F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F1 Deleted by Commission Implementing Regulation (EU) 2016/1868 of 20 October 2016 amending and correcting Implementing Regulation (EU) 2015/2450 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance).

This template shall include IGTs that were:

• in–force at the start of the reporting period.

• incepted during the reporting period and outstanding at the reporting date.

• incepted and expired/matured during the reporting period.

Where similar transactions with a related entity may be excluded from IGT reporting when considered individually against the thresholds for significant and very significant, these transactions must nevertheless be individually reported where collectively they are at or above the corresponding threshold values for significant or very significant IGTs.

Each transaction shall be reported separately. Undertakings shall report as many rows as needed to properly identify the transaction, including if different types of reinsurance contracts/ treaties are used.

Any additions / top–ups to significant IGTs shall be reported as a separate IGT, even if the top–up in its own right falls below the significant threshold limit. For example, if an undertaking increases the initial loan amount to another related undertaking the addition to the loan should be recorded as a separate item with its issue date as the date of the top–up.

Where the transaction value is different for two transacting parties (e.g. a EUR 10 m transaction between A and B where A records EUR 10 m but B only receive EUR 9,5 m because of transactions costs, of say EUR 0,5 m has been expensed) the template should record the maximum amount as the transaction amount, in this case EUR 10 m.

Where there is a chain of related IGTs (say A invests in B and B invests in C), each link of the chain needs to be reported as a separate IGT.

	ITEM	INSTRUCTIONS
C0010	ID of intragroup transaction	Unique internal identification code for each intragroup transaction. Must be consistent over time.
C0020	Name of cedent	Legal name of the entity that has transferred the underwriting risk to another insurer or reinsurer within the scope of the group, in the meaning of Article 212(1)(c) of Directive 2009/138/EC
C0030	Identification code of cedent	The unique identification code attached to the investor/buyer/transferee by this order of priority: Legal Entity Identifier (LEI); Specific code Specific code: For EEA insurance and reinsurance undertakings and other EEA regulated undertakings within the scope of the group, in the meaning of Article 212(1)(c) of Directive 2009/138/EC: identification code used in the local market, attributed by the undertaking's competent supervisory authority; For non–EEA undertakings and non–regulated undertakings within the scope of the group, in the meaning of Article 212(1)(c) of Directive 2009/138/EC, identification code will be provided by the group. When allocating an identification code to each non–EEA or non–regulated undertaking, the group should comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166–1 alpha–2 code of the country of the undertaking + 5 digits
C0040	ID code type of code of the cedant	Identification of the code used in item ‘Identification code for the cedant’: 1 — LEI 2 — Specific code
C0050	Name of reinsurer	Legal name of the reinsurer to whom the underwriting risk has been transferred. This shall be the same as reported in S.30.02.
C0060	Identification code of reinsurer	The unique identification code attached to the investor/buyer/transferee by this order of priority: Legal Entity Identifier (LEI); Specific code Specific code: For EEA insurance and reinsurance undertakings and other EEA regulated undertakings within the scope of the group, in the meaning of Article 212(1)(c) of Directive 2009/138/EC: identification code used in the local market, attributed by the undertaking's competent supervisory authority; For non–EEA undertakings and non–regulated undertakings within the scope of the group, in the meaning of Article 212(1)(c) of Directive 2009/138/EC, identification code will be provided by the group. When allocating an identification code to each non–EEA or non–regulated undertaking, the group should comply with the following format in a consistent manner: identification code of the parent undertaking + ISO 3166–1 alpha–2 code of the country of the undertaking + 5 digits
C0070	ID code type of code of the reinsurer	Identification of the code used in item ‘Identification code for the reinsurer’: 1 — LEI 2 — Specific code
C0080	Validity period (start date)	Identify the ISO 8601 (yyyy–mm–dd) code of the date of commencement of the specific reinsurance contract/treaty.
C0090	Validity period (expiry date)	Identify the ISO 8601 (yyyy–mm–dd) code of the expiry date of the specific reinsurance contract/treaty (i.e. the last date the specific reinsurance contract/treaty is in force). This item is not reported if there is no expiry date (for example, contract is continuous and ends by one of the parties giving notice).
C0100	Currency of contract/treaty	Identify the ISO 4217 alphabetic code of the currency of payments for the specific reinsurance contract/treaty.
C0110	Type of reinsurance contract/ treaty	Identify the type of reinsurance contract/treaty. The following close list shall be used: 1 — quota share 2 — variable quota share 3 — surplus 4 — excess of loss (per event and per risk) 5 — excess of loss (per risk) 6 — excess of loss (per event) 7 — excess of loss ‘back–up’ (protection against follow–on events which certain catastrophes can cause such as flooding or fire) 8 — excess of loss with basis risk 9 — reinstatement cover 10 — aggregate excess of loss 11 — unlimited excess of loss 12 — stop loss 13 — other proportional treaties 14 — other non–proportional treaties 15 — Financial reinsurance 16 — Facultative proportional 17 — Facultative non–proportional Other proportional treaties (code 13) and Other non–proportional treaties (code 14) can be used for hybrid types of reinsurance treaties.
C0120	Maximum cover by reinsurer under contract/treaty	For quota share or a surplus treaty, 100 % of the maximum amount that has been set for the entire contract/treaty is stated here (e.g. £10million). In case of unlimited cover ‘–1’ must be filled in here. For excess of loss or stop loss treaties enter the initial capacity. This item has to be reported in the currency of the transaction.
C0130	Net Receivables	The amount resulting from: claims paid by the insurer but not yet reimbursed by the reinsurer + commissions to be paid by the reinsurer + other receivables minus debts to the reinsurer. Cash deposits are excluded and are to be considered as guarantees received. Total amount must be equal to the sum of the balance sheet items: Reinsurance receivables and Reinsurance payables. This item has to be reported in the currency of the group.
C0140	Total reinsurance recoverable	Total amount due from the reinsurer at the reporting date which include: Premium provision for part of the future reinsurance premium which has already been paid to the reinsurer; Claims provision for claims outstanding for insurer which have to be paid by the reinsurer; and/or Technical provisions for the amount reflecting the share of the reinsurer in the gross technical provisions. This item has to be reported in the reporting currency of the group.
C0150	Reinsurance result (for reinsured entity)	The reinsurance result for the reinsured entity should be calculated as follows: Total reinsurance commissions received by reinsured entity less Gross reinsurance premiums paid by reinsured entity plus Claims paid by reinsurer during the reporting period plus Total reinsurance recoverables at the end of the reporting period less Total reinsurance recoverables at the start of the reporting period. This item has to be reported in the reporting currency of the group.
C0160	Line of business	Identify the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, being reinsured. The following close list shall be used: 1 — Medical expense insurance 2 — Income protection insurance 3 — Workers' compensation insurance 4 — Motor vehicle liability insurance 5 — Other motor insurance 6 — Marine, aviation and transport insurance 7 — Fire and other damage to property insurance 8 — General liability insurance 9 — Credit and suretyship insurance 10 — Legal expenses insurance 11 — Assistance 12 — Miscellaneous financial loss 13 — Proportional medical expense reinsurance 14 — Proportional income protection reinsurance 15 — Proportional workers' compensation reinsurance 16 — Proportional motor vehicle liability reinsurance 17 — Proportional other motor reinsurance 18 — Proportional marine, aviation and transport reinsurance 19 — Proportional fire and other damage to property reinsurance 20 — Proportional general liability reinsurance 21 — Proportional credit and suretyship reinsurance 22 — Proportional legal expenses reinsurance 23 — Proportional assistance reinsurance 24 — Proportional miscellaneous financial loss reinsurance 25 — Non–proportional health reinsurance 26 — Non–proportional casualty reinsurance 27 — Non–proportional marine, aviation and transport reinsurance 28 — Non–proportional property reinsurance [F2 29 — Health insurance 30 — Insurance with profit participation 31 — Index-linked and unit-linked insurance 32 — Other life insurance 33 — Annuities stemming from non-life insurance contracts and relating to health insurance obligations 34 — Annuities stemming from non-life insurance contracts and relating to insurance obligations other than health insurance obligations 35 — Health reinsurance 36 — Life reinsurance] If a reinsurance arrangement covers more than one line of business, then select the most significant line of business from the list above.

Textual Amendments

F2 Substituted by Commission Implementing Regulation (EU) 2016/1868 of 20 October 2016 amending and correcting Implementing Regulation (EU) 2015/2450 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance).