SolvencyTool logo
    Home / Acts & Regulations / Reporting explanations / S.14.01 — Life obligations analysis (Solo)

    S.14.01 — Life obligations analysis Solo

    EIOPA Taxonomy 2.8.0 Source PDF

    S.14.01 — Life obligations analysis PDF · reporting-explanations/EIOPA_Solvency_II/2.8.0/EIOPA_S.14.01_solo.pdf
    / —
    Loading document…

    Instruction text

    Converted from the official instructions so it can be searched and copied. The PDF above is the document of record.

    S.14.01 — Life obligations analysis

    General comments:

    This section relates to annual submission of information for individual entities.

    This template includes information about life insurance contracts only to direct business and also includes life obligation from non-life contracts such as annuities stemming from non-life contracts (which are also analysed in S.16.01). No information shall be provided for accepted reinsurance business. All insurance contracts shall be reported even if classified as investments contract on accounting basis. In case of products unbundled, the different parts of the product shall be reported in different rows, using different ID codes.

    All information shall be reported by product including the table on portfolio product. Reporting by fund number shall not mandatory, unless otherwise required by the national supervisory authority. Reporting of specific items related to the fund number can be defined by national supervisory authority.

    ITEMINSTRUCTIONS
    Portfolio
    C0010Product ID codeInternal product ID code used by the undertaking for
    the product. If a code is already in use or is
    attributed by the competent authority for supervisory
    purposes that code shall be used.
    The ID code shall be consistent over time.
    In the cases where the same product needs to be
    reported in more than one row the content of C0010
    (and C0090) shall follow the specific pattern:
    {}{ID code of product}}/+/{}{number of version}}.
    For example ‘AB222/+/3’.
    C0030Line of BusinessLine of business as defined in Annex 1 of Delegated
    Regulation (EU) 2015/35.The following closed list
    shall be used:
    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
    C0040Number ofNumber of contracts attached to each reported
    contracts at the
    end of the year    		product. Contracts with more than one policyholder
    count as only one contract.
    In case of inactive policyholder (no premium paid)
    the contract shall be reported anyway unless the
    contract is cancelled.
    As no premiums are paid in
    this case, these inactive policyholders are
    included
    with premiums equal to zero.
    For annuities stemming from non-life use the
    number of annuities obligations.
    For products which are unbundled in more than one
    row, please report the number of contracts
    in all
    rows reported.
    C0041Number of
    contracts at the    		Number of contracts at the end of the year which
    include a surrender option for the policyholder.
    end of year
    – of
    which contracts
    with surrender
    option    		Contracts where policyholders do not have the right
    to surrender their policy, but can still transfer their
    policy to another insurer should be captured in this
    cell.
    Not applicable for annuities stemming from non-life
    contracts.
    C0050Number of new
    contracts during
    year    		Number of new contracts issued during reporting
    year (this is for all new contracts). Otherwise use the
    same instructions as for cell C0040.
    For annuities stemming from non-life use the
    number of annuities obligations.
    Contracts are considered as new contracts, when
    they are recognized in the valuation of technical
    provisions at
    any time during the year in accordance
    with
    Article 17 of the Delegated Regulation. New
    contracts therefore include renewals which were not
    included in the contract boundaries before as well as
    new business sales.
    C0051Number of
    contracts
    surrendered
    during year    		Number of contracts that surrendered during reporting
    year.
    Where a contract is only partially surrendered or has
    turned into paid-up status, this should not be counted
    as a surrender for the purpose of C0051 as the
    contract is still in the book of business.
    Not applicable for annuities stemming from non-life
    contracts.
    C0054Number of
    insured at the end
    of the year    		Number of insured persons at the end of the year with
    respect to the contracts reported in C0040.
    The number of insured should correspond to the
    number of policyholders for a contract. In the case of
    collective/group policies, where the ‘policyholder’
    acts both as a distributor and as a policyholder, the
    number of insured should correspond to the number
    of insured persons
    joining the collect/group contract.
    C0055Fiscal treatment of
    the products    		This field is to provide information on the fiscal
    treatment of the products, in particular when fiscal
    treatment could influence decision on exercising
    surrender/cancellation. The following close list
    should be used:
    1 -In case of lapse/surrender there is no tax or subsidy
    related loss
    2 -In case of lapse/surrender past or future tax
    benefits or other subsidies are lost
    3 -
    Other tax related losses not covered above
    4 -
    Not applicable
    Option 1
    includes cases where policyholders would
    suffer a tax or subsidy loss unless a similar insurer is
    willing to accept the contract.
    Tax benefits that relate to future premiums i.e. where
    premiums reduce future income
    tax payments are not
    relevant for the purpose of above classification.
    Whether for a particular contract within a product a
    fiscal loss actually would occur at the valuation date
    may depend on individual contractual parameters like
    duration or the age of the policyholder. For the
    purpose of the reporting in C0210 no differentiation
    according to such parameters is however required.
    The criteria should be chosen where such a fiscal loss
    may occur for the contracts of that product.
    Not applicable for annuities stemming from non-life
    contracts.
    C0080CountryCountry ISO 3166–1 alpha–2 code
    or list of codes
    according to the following instructions:
    -
    ISO 3166–1 alpha–2 code of the country
    where the contract was entered into, for
    countries representing more than 10 % of
    technical provisions or written premiums for a
    given product.
    -
    For countries representing less than 10 % of
    Technical Provisions or written premiums for
    a given product, report a list of ISO 3166–1
    alpha–2 Codes of the countries concerned.
    Portfolio product
    C0020Fund numberApplicable to product that are part of ring-fenced
    funds or other internal funds -
    defined at national
    level, in particular regarding funds (asset portfolios)
    supporting life products.
    Number
    or code,
    which
    is attributed by the
    undertaking, corresponding to the unique number
    or
    code
    assigned to each fund. This number or code has
    to be consistent over time and shall be used to
    identify the same funds in other templates (e.g. in
    S.08.01).
    It shall not be re-used for a different fund.
    The fund number is not mandatory, unless otherwise
    required by the national supervisory authority.
    C0060Total amount of
    Written premiums    		Total amount of gross written premiums as defined
    in Article 1(11) of Delegated Regulation (EU)
    2015/35.
    For annuities stemming from non-life this cell is not
    applicable.
    C0061Total amount of
    written premiums
    – of which written    		Total amount of gross written premiums as defined in
    Article 1(11) of Delegated Regulation (EU) 2015/35
    written directly by the insurance undertaking.
    directly by the
    insurance
    undertaking    		For annuities stemming from non-life this cell is not
    applicable.
    C0062Total amount of
    written premiums
    – of which written
    via credit
    institutions    		Total amount of gross written premiums as defined in
    Article 1(11) of Delegated Regulation (EU) 2015/35
    written via credit institutions acting as insurance
    distributors.
    For annuities stemming from non-life this cell is not
    applicable.
    C0063Total amount of
    written premiums
    – of which written
    via other    		Total amount of gross written premiums as defined in
    Article 1(11) of Delegated Regulation (EU) 2015/35
    written via insurance distributors other than credit
    institutions.
    insurance
    distributors    		For annuities stemming from non-life this cell is not
    applicable.
    C0070Total amount of
    claims paid during
    year    		Total amount of gross claims paid during the year,
    including claims management expenses.
    C0071Total amount of
    commissions paid
    during year    		Commissions should include any form of monetary
    benefits which is paid to an insurance distributor by
    any other person than the customer or a third party
    acting on behalf of the customer, in relation to
    insurance distribution activities. Whereas
    commissions are generally calculated as a percentage
    of the premium paid by the customer for insurance
    coverage, this applies for any type of payment made
    to an insurance distributor (e.g., paid/received
    initially based on the conclusion of an insurance
    contract or paid/received on a recurring basis).
    Where this cell is not applicable, e.g. in case of
    annuities from non-life expenses, the cell should be
    left blank.
    C0075Expected future
    premiums    		Total premiums for all contracts in force at the
    valuation date expected for the future as projected in
    the Best Estimate calculation. Projected future
    premiums should be the present value (reflecting the
    total premium volume
    for the expected duration of the
    contract).
    The premiums should only be recognised in the
    contract boundaries.
    As the calculation of technical provisions is only
    required on the level of HRG, approximations can be
    applied for the breakdown of the provisions by
    product.
    Not applicable for annuities stemming from non-life
    contracts.
    C0077Expected future
    commissions    		Total future commissions for all contracts in force at
    the valuation date expected for the future as projected
    in the Best Estimate calculation.
    Projected future commissions should be the present
    value (reflecting the total volume of future
    commissions for the expected duration of the
    contract). For the definition of commissions please
    confer C0071.
    The commissions should only be recognised in the
    contract boundaries.
    As the calculation of technical provisions is only
    required on the level of HRG, approximations can be
    applied for the breakdown of the provisions by
    product.
    Not applicable for annuities stemming from non-life
    contracts.
    C0180Best Estimate and
    Technical
    Provisions as a
    whole    		Amount of gross best estimate and Technical
    Provisions as a whole calculated product.
    As the calculation of technical provisions is only
    required on the level of HRG, approximations can be
    applied for the breakdown of the provisions by
    product.
    C0190Capital-at-riskThe capital at risk, as defined in the Delegated
    Regulation (EU) 2015/35.
    As the calculation of technical provisions is only
    required on the level of HRG, approximations can be
    applied for the breakdown of the provisions by
    product.
    For annuities stemming from non-life contracts this
    cell shall be filled in with zero unless the annuities
    have positive risk.
    C0200Surrender valueSurrender value (where available), as mentioned in
    Article 185 (3) (f) of Directive 2009/138/EC, net of
    taxes: amount to be paid to the policyholder in case of
    early termination of the contract (i.e. before it
    becomes payable by maturity or occurrence of the
    insured event, such as death), net of charges and
    policy loans; does not concern contracts without
    options, given that surrender value is an option.
    Not applicable for annuities stemming from non-life
    contracts.
    C0260Guaranteed
    rate -
    Annualised
    guaranteed rate
    (over average
    duration of
    guarantee)    		Average guaranteed yearly interest rate to the policy
    holder over the remaining life time of the contract
    expressed as a percentage.
    Where no guaranteed interest rate is implicitly or
    explicitly provided in the contract, the cell should be
    left blank, where a guaranteed interest rate is
    implicitly or explicitly provided, this should be
    reported accordingly (e.g. “0%”).
    Applicable where an average guaranteed interest rate
    is explicitly provided in the contract or where an
    alternative financial guarantee is implicitly provided,
    e.g. in form of a guaranteed sum assured, a
    guaranteed return of premiums or a guaranteed
    annuity benefit.
    Where no yearly interest rate guarantee is prescribed
    explicitly in the contract, the implied
    (yearly)
    guaranteed rate from the valuation date to the
    expected end of the guarantee should be reported.
    Not applicable for annuities stemming from non-life
    contracts.
    C0261Guaranteed
    rate -
    Yearly interest
    rate guarantee for
    the reporting year    		Guaranteed yearly interest rate to the policyholder of
    the contract for the reporting year expressed as a
    percentage.
    Where no guaranteed interest rate is implicitly or
    explicitly provided in the contract, the cell should be
    left blank, where a guaranteed interest rate is
    implicitly or explicitly provided, this should be
    reported accordingly (e.g. “0%”).
    Applicable where an average guaranteed interest rate
    is explicitly provided in the contract or where an
    alternative financial guarantee is implicitly provided,
    e.g. in form of a guaranteed sum assured, a
    guaranteed return of premiums.
    Where no yearly interest rate guarantee is prescribed
    explicitly in the contract, the implied (yearly)
    guaranteed rate for the reporting year should be
    reported.
    Not applicable for annuities stemming from non-life
    contracts.
    C0270Exit conditions
    at
    reporting date    		Please classify the product according to the following
    close list regarding exit conditions
    at the situation of
    the reporting date:
    1 – Surrender value equal to the best estimate/local
    statutory reserves and notice required lower than one
    week
    2 – Surrender value equal to the best estimate/local
    statutory reserves and notice required higher than one
    week but lower than 3 months
    3 – Surrender value equal to the best estimate/local
    statutory reserves and notice required higher than 3
    months
    4 -
    Surrender value between 100% (exclusively) and
    80% of the best estimate/local statutory reserves and
    notice required lower than one week
    5 -
    Surrender value between 100% (exclusively) and
    80% of the best estimate/local statutory reserves and
    notice required higher than one week but lower than 3
    months
    6 -
    Surrender value between 100% (exclusively) and
    80% of the best estimate/local statutory reserves and
    notice required higher than 3 months
    7 -
    Surrender value lower than 80% of the best
    estimate/local statutory reserves and notice required
    lower than one week
    8 -
    Surrender value lower than 80% of the best
    estimate/local statutory reserves and notice required
    higher than one
    week but lower than 3 months
    9 -
    Surrender value lower than 80% of the best
    estimate/local statutory reserves and notice required
    higher than 3 months
    10 – Other
    The notice period should be understood as the time
    period (e.g. days or weeks) requested by the insurance
    company between the notification of the policyholder
    of his/her intention to terminate the insurance policy
    and the actual termination date. This term does not
    refer to the cool-off period which a client has to
    cancel the policy without penalty.
    Where this cell is not applicable, i.e. a contract cannot
    be surrender, e.g. for annuities from non-life
    contracts, this cell can be left blank.
    Not applicable for annuities stemming from non-life
    contracts.
    C0280Amount on which
    interest
    rate is
    guaranteed    		Monetary amount to which the guaranteed interest
    rate reported in C0260 need to be applied. Amount is
    to be reported as the monetary value at the reference
    date.
    Not applicable for annuities stemming from non-life
    contracts.
    Characteristics of product
    C0101Product
    classification    		The following closed list shall be used:
    1.
    single life
    2.
    joint life
    3.
    collective
    4.
    other
    If more than one characteristic is applicable use “4 – other”.
    For annuities stemming from non-life use “4 – other”.
    C0102Pension
    entitlements    		Specify if the product category is a pension
    entitlement. The following closed list shall be used:
    1.
    Yes
    2.
    No
    When assessing if a product should be classified as
    pension entitlement under template S.14 the
    following should be considered:
    -
    If product is a pension product based on
    national regulation/law. For this the
    “Database of pension plans and products in
    the EEA” published at EIOPA website might
    be considered (with the caveats referred to on
    the website);
    -
    If a product (e.g. a unit-linked product)
    accumulates money for retirement using a tax
    advantage related to pensions;
    -
    If the future payments are explicitly linked to
    the retirement itself;
    -
    If the product complies with all features
    identified but also includes some very
    exceptional situations where the money could
    be surrendered like long unemployment or
    serious illness, it should continue to be
    considered as a pension entitlement.
    The following should not influence the decision:
    -
    If the product substitutes or is additional to the
    social security system in place;
    -
    If the product is compulsory (usually if
    substitute) or not compulsory (usually if
    additional);
    -
    If the payment in future is to be done through
    annuities or through a lump sum, as long as
    the payment is at retirement age.
    C0110Type of productGeneral qualitative description of the product type. If
    a product code is attributed by the competent
    authority for supervisory purposes, the description of
    product type for that code shall be used.
    C0120Product
    denomination    		Commercial name of product (undertaking-specific).
    C0130Product still
    commercialised?    		Specify if product is still for sale or if it is just in run – off. The following closed list shall be used:
    1 – still commercialised
    2 – In run-off
    C0141Profit
    sharing    		Specify if product category includes profit sharing or
    not. The following closed list shall be used.
    1 – Yes
    2 – No
    C0142Remaining
    contractual
    maturity    		This field is to provide information about the average
    contractually defined remaining maturity of the
    contracts according to that product category. The
    selection should be made from the following six
    options:
    1-
    <5 years
    2 -
    5-10 years
    3 -
    10-15 years
    4 -
    15-20 years
    5 -
    >20 years
    6 -
    Lifelong
    The determination is based on the assumptions that
    the contract does not end due to the realisation of a
    biometrical risk, the policyholder does not exercise
    any surrender/cancellation option and exercises all
    renewal options and the insurance or reinsurance
    undertaking does not exercise any option to terminate
    the contract and exercises all renewal options. In the
    case of an endowment policy this would for example
    mean that the insured person does not die and the
    policyholder does not cancel the contract. For the
    determination a typical age of the policyholder when
    entering the contract should be assumed.
    Consider as example an endowment policy with the
    possibility to cancel at any time where the typical
    contract is entered into at age 30 and ends with a
    lump-sum payment at age 65 in case the insured
    person is still alive. Even though the contract may end
    earlier due to death or cancellation the option “>20
    years” should be selected.
    Solvency
    II software
    Not applicable for annuities stemming from non-life
    contracts.