Q&A 3660: Should receivables and payables arising from reinsurance contracts, where settlements are processed through a reinsurance broker acting as an intermediary, be reported as reinsurance balances?
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EIOPA rejects a Q&A on reinsurance balances settled through a broker: the intermediation does not change their nature, so they are reported as reinsurance receivables and payables (R0370 and R0830 of the S.02.01 balance sheet), not as other assets or other liabilities.
Key points
- R0420 and R0880 are only used where the information is not reported in other cells.
Who is affected
Insurance and reinsurance undertakings reporting under Solvency II.
Plain-language version
When an insurer passes part of its risks to another company (reinsurance), the money sometimes goes through a broker acting as a middleman. The EU insurance supervisor says this changes nothing: those amounts go in the reinsurance boxes of the balance sheet, not in the "other" category. That keeps all insurers' accounts comparable.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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