Question ID: 1942
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Topic: Valuation of Assets and Liabilities other than TPs
Article: 75
Status: Final
Date of submission: 01 Jun 2019
Question
Could you please clarify if undertaking under local regulation (statutory accounting) is not required to valuate leased assets and liabilities (not present this elements in statutory balance sheet), must include leasing assets and liabilities in Solvency II MVBS?
EIOPA answer
In case the national competent authority agrees with the use of local accounting standards in line with Art. 75 of the Solvency II Directive, the recognition of lease assets and liabilities follow the local accounting standards.