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Commission Delegated Regulation (EU) 2015/35Show full 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)
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Revised version PDFs
- Revised 30/07/202048.27 MB
- Revised 01/01/202048.00 MB
- Revised 08/07/201944.91 MB
- Revised 01/01/201946.16 MB
- Revised 15/09/201740.90 MB
- Revised 09/04/201746.19 MB
- Revised 02/04/201646.19 MB
- Revised 17/01/201539.54 MB
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Changes over time for: Article 342
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There are outstanding changes not yet made to Commission Delegated Regulation (EU) 2015/35. Any changes that have already been made to the legislation appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Article 342:
- Regulation revoked by 2023 c. 29 Sch. 1 Pt. 3
- Recital 53 Sentence 1 replacement by EUR 2016/2283 Regulation
Changes and effects yet to be applied to the whole legislation item and associated provisions
- Art. 1(18a) words substituted by S.I. 2024/705 Sch. 2 para. 27(a)
- Art. 1(18b)(a) substituted by S.I. 2024/705 Sch. 2 para. 27(b)(i)
- Art. 1(18b)(a) word omitted by S.I. 2024/705 Sch. 2 para. 27(b)(ii)
- Art. 1(18b)(c) and word inserted by S.I. 2024/705 Sch. 2 para. 27(b)(iii)
- Art. 1(19) words substituted by S.I. 2024/705 Sch. 2 para. 27(c)
- Art. 1(20) words substituted by S.I. 2024/705 Sch. 2 para. 27(d)
- Art. 1(21) words substituted by S.I. 2024/705 Sch. 2 para. 27(e)
- Art. 1(22) words substituted by S.I. 2024/705 Sch. 2 para. 27(f)
- Art. 1(23) words substituted by S.I. 2024/705 Sch. 2 para. 27(g)
- Art. 1(35a)(35b) inserted by S.I. 2024/594 reg. 6(2)(a)
- Art. 1(37) words omitted by S.I. 2024/594 reg. 6(2)(b)
- Art. 177(2)(b) words omitted by S.I. 2019/407 reg. 11(25)(a) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(2)(h)(i) words omitted by S.I. 2019/407 reg. 11(25)(b)(ii) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(2)(h)(i) words substituted by S.I. 2019/407 reg. 11(25)(b)(i) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(2)(r) words substituted by S.I. 2019/407 reg. 11(25)(c) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(2)(s) words substituted by S.I. 2019/407 reg. 11(25)(c) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(2)(t) words substituted by S.I. 2019/407 reg. 11(25)(d) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(5)(a) words substituted by S.I. 2019/407 reg. 11(25)(f) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 177(5)(c) words substituted by S.I. 2019/407 reg. 11(25)(f) (This amendment not applied to legislation.gov.uk. Reg. 11(25)(39) omitted immediately before IP completion day by virtue of S.I. 2019/710, regs. 1(2), 22)
- Art. 180(12)(b) words substituted by S.I. 2024/594 reg. 6(6)
- Art. 180(15)(b) words substituted by S.I. 2024/594 reg. 6(6)
- Art. 257(1A) inserted by S.I. 2024/705 Sch. 2 para. 28(3)
- Art. 257(6) inserted by S.I. 2024/705 Sch. 2 para. 28(7)
- Art. 296(2)(d) words omitted by S.I. 2024/594 reg. 6(11)(b)
- Art. 296(2)(d) words substituted by S.I. 2024/594 reg. 6(11)(a)
- Art. 308(3)(f) words substituted by S.I. 2024/594 reg. 6(12)
Article 342U.K.Method 2: Elimination of intra-group creation of capital in relation to the best estimate
1.The aggregated group eligible own funds shall be adjusted to eliminate the impact of an intra-group transaction where the impact of the intra-group transaction affects the best estimates of the insurance and reinsurance undertakings in such way that the amount set out in paragraph 2 is different depending on whether the intra-group transaction is eliminated in the calculation of that amount or not.
2.The amount referred to in paragraph 1 shall be the sum of the following:
(a)the best estimate of the participating insurance or reinsurance undertaking calculated in accordance with [F1the Valuation and Technical Provisions parts of the PRA Rulebook];
(b)the proportional share as referred to in [F2rule 8.2(2) of the Group Supervision part of the PRA Rulebook] of the best estimate, calculated in accordance with [F3the Valuation and Technical Provisions parts of the PRA Rulebook] for each related insurance and reinsurance undertaking and related third-country insurance and reinsurance undertaking.
Textual Amendments
F1 Words in Art. 342(2)(a) substituted (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 11(72)(a) (as amended by S.I. 2020/1385, regs. 1(2), 54(2) and with savings in S.I. 2019/680, reg. 11)
F2 Words in Art. 342(2)(b) substituted (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 11(72)(b)(i) (as amended by S.I. 2020/1385, regs. 1(2), 54(2) and with savings in S.I. 2019/680, reg. 11)
F3 Words in Art. 342(2)(b) substituted (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 11(72)(b)(ii) (as amended by S.I. 2020/1385, regs. 1(2), 54(2) and with savings in S.I. 2019/680, reg. 11)
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