Question ID: 113
Regulation Reference: Guidelines on submission of information to NCAs (Preparatory phase)
Article: 73
Status: Final
Date of submission: 04 Sep 2014
Question
Can you confirm that solely reinsurance undertakings always use report MCR-B4A (not MCR-B4B for composites). Reasoning behind is that composites are those undertakings that have been authorised as composites under L1 Article 73(2) or (5), where reinsurance undertakings are not specified.
EIOPA answer
In fact a reinsurance undertaking may be a composite. In accordance with article 15 (5) in regard to reinsurance, authorisation shall be granted for non-life reinsurance activity, life reinsurance activity or all kinds of reinsurance activity. Reinsurance companies are not referred to in article 73 as there is no limitation for the pursuit of both activities.