CP89

Insights

CBI published its feedback statement on CP89

National Specific Templates

Key points in the feedback statement are:

  • Non-Life National Specific Templates no. 3 – 7 inclusive will be collected twice per annum commencing with first half of 2016;
  • National Specific Templates nos. 1 – 7 inclusive will only apply to undertakings rated as High Impact under the PRISM risk rating system; 
  • Variable Annuity business National Specific Templates nos. 8 - 11 will permit the use of companies’ own hedging bases for the P&L attribution (with regular reconciliations to the Solvency II basis) and will only require stress tests to be submitted on an annual basis; 
  • Reinsurance undertakings will not be within the scope of the National Specific Templates requirements;
  • The only acceptable format for submission of the National Specific Templates will be XBRL.
     
CBI: Feedback Statement on the Consultation Paper on National Specific Templates for Insurers (CP89)
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