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Resolution Of 25 Of March Of 2015, Of The Address General Of Insurance And Funds Of Inns, By Which Is Set Them Principles Applicable And The Content Of The Information To Present Before It Address General Of Insurance And Funds Of Inns, Pair...

Original Language Title: Resolución de 25 de marzo de 2015, de la Dirección General de Seguros y Fondos de Pensiones, por la que se fijan los principios aplicables y el contenido de la información a presentar ante la Dirección General de Seguros y Fondos de Pensiones, par...

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In accordance with Article 16 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Pensions Authority) Retirement), Decision No 716 /2009/EC is amended and Commission Decision 2009 /79/EC is repealed and within the tasks attributed to it, the European Insurance and Occupational Pensions Authority (EIOPA) issued on 31 October 2013 a Series of guidelines on the system of government of the insurance institutions, the internal evaluation forward-looking risks, the provision of information to the supervisor and the prior request for internal models addressed to the Supervisory Authorities. These guidelines indicate how to proceed in the preparatory phase prior to the implementation of Directive 2009 /138/EC of the European Parliament and of the Council of 25 November 2009 on life assurance, access to insurance and insurance business reinsurance and its financial year, hereinafter referred to as Solvency II Directive.

These guidelines, which have been implemented since 1 January 2014, are intended to be prepared by insurance and reinsurance entities and groups of insurers and reinsurers within the scope of these guidelines. described above, by the time it is fully applicable, on a compulsory basis, to the regime of the Solvency II Directive as from 1 January 2016. At the same time, it is intended to prevent each Member State from creating solutions at national level, by providing these guidelines with a consistent and convergent approach to the preparation of the Solvency II Directive.

The supervisory authorities may apply and, where appropriate, transfer their content to insurance and reinsurance entities, and to groups of insurance and reinsurance entities. Order ECC/730 /2014 of 29 April 2014, of temporary measures to facilitate the progressive adaptation of insurance and reinsurance entities to the new Solvency II regime, is intended to ensure that insurance and reinsurance undertakings, and the groups of insurance and reinsurance entities, take as a reference the abovementioned guidelines for the purpose of their progressive adaptation to the new Solvency II regime and the establishment of the necessary information mechanisms for the Spanish supervisor can check the effective adaptation of the insurance companies and reinsurers, and groups of insurance and reinsurance entities, to the guidelines of the European Insurance and Occupational Pensions Authority (EIOPA) from 1 January 2014 to 31 December 2015.

In accordance with the additional provision of Order ECC/730/2014, the resolution of the Directorate-General for Insurance and Pension Funds of 16 June 2014 on temporary measures to facilitate the progressive adaptation of the insurance companies and reinsurers to the new regime of the Solvency II Directive, gave publicity to the above-mentioned guidelines and recommendations to date published by the European Insurance and Occupational Pensions Authority (EIOPA).

Paragraphs 5, 6 and 8 of Article 1 of Order ECC/730/2014 provide for the obligation, for insurance and reinsurance entities, and for groups of insurance and reinsurance entities to submit information quantitative and qualitative. The Directorate-General for Insurance and Pension Funds has communicated the scope of the obligation referred to in the paragraphs of Order ECC/730/2014 to the entities and groups of entities found in the reference thresholds, individualised. Article 1 (9) of the same Order also provides that the Directorate-General for Insurance and Pension Funds may fix the content of such quantitative and qualitative information by resolution.

This resolution aims to clarify the applicable principles and the content of the information to be sent to the General Directorate of Insurance and Pension Funds. It is considered appropriate, both for the greater agility in the processing and for the limited burden that this implies for the entities, that the information is transmitted in electronic support.

By virtue of the provisions of Article 1 (9) and the additional provision of Order ECC/730/2014 of 29 April 2014, temporary measures to facilitate the progressive adaptation of insurance and reinsurance undertakings reinsurers to the new Solvency II regime, resolute:

First. Provision of quantitative information to the Directorate-General for Insurance and Pension Funds, in the preparatory phase.

One. The annual and quarterly quantitative models for insurance and reinsurance entities, and groups of insurance and reinsurance entities, to be published on the website of the Directorate-General for Insurance and Pension Funds, are approved. http://www.dgsfp.mineco.es/ as annexes 1 to 4 of this resolution.

Two. The approved models shall apply only for the annual quantitative information for the financial year ending 31 December 2014 and for the quarterly quantitative information for the quarter ending on 30 June 2014. September 2015 and are additional to the reporting obligations of the accounting-accounting documentation to be submitted pursuant to Article 66 of the Private Insurance Management and Supervision Regulation, approved by the Royal Decree 2486/1998 of 20 November.

Second. Provision of qualitative information to the Directorate-General for Insurance and Pension Funds, in the preparatory phase.

The minimum content of the annual qualitative information for the financial year ending on 31 December 2014, to be submitted by insurance and reinsurance entities, and groups of insurance and insurance institutions, is approved. reinsurers, as regards the governance system, the management of capital, the valuation as well as the information policy of the same, which will be published on the website of the Directorate-General for Insurance and Pension Funds, http://www.dgsfp.mineco.es/ as Annex 5 to this resolution.

Third. Submission deadlines, thresholds and format for the presentation of quantitative and qualitative information to the General Directorate of Insurance and Pension Funds, in preparatory phase.

One. The models approved in the first paragraph, together with the qualitative information referred to in the second paragraph, shall be submitted in accordance with the provisions of paragraphs 5, 6, 7 and 8 of Order ECC/730 /2014 of 29 April 2014. temporary to facilitate the progressive adaptation of insurance and reinsurance entities to the new Solvency II regime.

Two. With the powers conferred on the General Directorate of Insurance and Pension Funds under Article 70.2 of the recast of the Law on the Management and Supervision of Private Insurance, approved by Royal Decree-Law 6/2004 of 29 October, the quantitative and qualitative information set out in the first and second paragraphs shall be transmitted by electronic means.

Single end disposition. Effects.

This resolution shall produce effects from the day following that of its publication in the "Official State Gazette".

Madrid, March 25, 2015. -Director General of Insurance and Pension Funds, Maria Flavia Rodriguez-Ponga Salamanca.