Question ID: 3116
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 180(3)(a)
Status: Rejected
Date of submission: 02 Jul 2024
Question
Is ACTION LOGEMENT SERVICES, which is listed in the INSEE list of central administration organisms subject to SCR spread 0 calculation under b of 2 of Article 180 of the delegated regulation 2015/35 ?
EIOPA answer
This question has been rejected because the answer can be found in the regulatory text.
The provision set out in article 180(2) of Solvency II Commission Delegated Regulation (EU) 2015/35 does not apply to entities which are not included in the list set out in Commission Implementing Regulation (EU) 2015/2011.
French “Organisme Divers d'Administration Centrale” are currently not included in the Implementing Regulation (EU) 2015/2011 and exposures to them can therefore not be treated as exposures to the French central government.
The shocks to be applied in this case are specified in article 180 paragraph 3a of the Commission Delegated Regulation (EU) 2015/35 providing that “Exposures in the form of bonds and loans to Member States' regional governments and local authorities not listed in Article 1 of Implementing Regulation (EU) 2015/2011 shall be assigned a risk factor stress i from the table in paragraph 3 corresponding to credit quality step 2.