The update includes the calculation of the symmetric adjustment based on the behaviour of an equity index built by EIOPA exclusively for that purpose.
The update is released under a dedicated section of EIOPA's website, which provides the following information to support EU insurance and reinsurance undertakings during the preparatory phase of Solvency II:
The calculation of the symmetric adjustment based on the behaviour of an equity index built by EIOPA exclusively for that purpose. The legal requirements on the determination of the symmetric adjustment and of the EIOPA equity index are set out in the Directive 2009/138/EC (as amended by Directive 2014/51/EU), the Implementing Measures of that Directive, and also in the Implementing Technical Standard on the EIOPA equity index.
While the publication of this information is not compulsory until 2016, EIOPA has advanced its disclosure in order to help EU insurance and reinsurance undertakings to prepare for the implementation of Solvency II.
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