Details
- Status
- Closed
- Opening date
- Deadline
Target audience
On 1 March 2021, EIOPA launched a European wide comparative study on non-life underwriting risk in internal models.
Objectives and Priorities:
- Fair view: The Non-Life Underwriting Risk Comparative Study 2020 (NLCS 2020) aims for a fair evaluation of non-life underwriting risk within internal models at a European level and their development over a five-year time horizon.
- Risk profile decomposition: Understanding relative positioning of capital positions on different granularities is aiding an understanding of dominating factors. A technically sound framework independent of the underlying methodologies will explore the modelled risk profile and actual business development in order to identify and analyse peer group behaviour.
- Consistency: Undertakings also taking part in the comparative study on diversification must ensure a consistent submission of information as the information request has been developed jointly for both studies.
Timeline:
- 15 September 2021: Deadline for insurance undertakings to submit results to their national supervisory authority.
- 01 October 2021: Deadline for national supervisory authorities to submit to the information to EIOPA.
Participants are recommended to submit a first batch (e.g. for YE2020 for survey A and B) well before the deadline so that potential re-workings do not create unnecessary additional submissions for the other submissions.
EIOPA offers a Questions & Answers process for clarifications. Please follow the instructions in the introduction document.
Update on the related documents
On 19 July 2021, EIOPA released a new version of the files (Survey A&B, log file A&B). The NLCS Project group has taken into consideration the feedback received from the participants via the Q&A, provided additional clarifications in the log files and corrected some minors errors (mostly in the validation checks). Participants are instructed to use this latest version (1.1) of the surveys in their submissions.