S.L. 403.24 Art. 17Information to EIOPA. S.L. 403.17 S.L. 403.23 S.L. 403.23 S.L. 403.23

(1) Without prejudice to Article 35 of Regulation (EU) No

1094/2010, the competent authority shall provide the following information to EIOPA on an annual basis:

(a) the average capital add-on per undertaking and the distribution of capital add-ons imposed by the competent authority during the previous year, measured as a percentage of the Solvency Capital Requirement, shown separately for:

(i) authorised insurance undertakings and authorised reinsurance undertakings;

(ii) authorised insurance undertakings carrying on long-term business of insurance;

(iii) authorised insurance undertakings carrying on general business of insurance;

(iv) authorised insurance undertakings carrying on general business and long-term business of insurance;

(v) authorised reinsurance undertakings;

(b) for each of the disclosures set out in paragraph (a), the proportion of capital add-ons imposed under article 31C (1)(a), (b) and (c) of the Act, respectively;

(c) the number of authorised insurance undertakings and authorised reinsurance undertakings benefiting from the limitation from regular supervisory reporting and the number of authorised insurance undertakings and authorised reinsurance undertakings benefiting from the exemption of reporting on an item-by-item basis referred to in Insurance Rules issued pursuant to article 32 of the Act, together with their volume of capital requirements, premiums, technical provisions and assets, respectively measured as percentages of the total volume of capital requirements, premiums, technical provisions and assets of authorised insurance undertakings and authorised reinsurance undertakings;

(d) the number of groups benefiting from the limitation from regular supervisory reporting and the number of groups benefiting from the exemption of reporting on an item-by-item basis referred to in regulation 39 of the Insurance Business (Supervision of Insurance and

Reinsurance Undertakings in a Group) Regulations, together with their volume of capital requirements, premiums, technical provisions and assets, respectively measured as percentages of the total volume of capital requirements, premiums, technical provisions and assets of all the groups.

(2) The competent authority shall, on an annual basis and until 1 January 2021, provide the following information to EIOPA on annual basis:

(a) the availability of long-term guarantees in insurance products in the Maltese market and the behaviour of authorised insurance undertakings and authorised reinsurance undertakings as long-term investors;

(b) the number of authorised insurance undertakings and authorised reinsurance undertakings applying the matching adjustment, the volatility adjustment, the extension of the recovery period in accordance with Article 138(4) of the Solvency II Directive, the duration-based equity risk sub-module and the transitional measures set out in regulations 15 and 16 of the Insurance Business (Solvency II Transitional Provisions) Regulations;

(c) the impact, at a national level, of the matching adjustment, the volatility adjustment, the symmetric adjustment mechanism to the equity capital charge, the duration-based equity risk sub-module and the transitional measures set out in regulations 15 and 16 of the Insurance Business (Solvency II Transitional

Provisions) Regulations, on the financial position of authorised insurance undertakings and authorised reinsurance undertakings, anonymised in respect of each undertaking;

(d) the effect of the matching adjustment, the volatility adjustment, the symmetric adjustment mechanism to the equity capital charge and the duration-based equity risk sub-module on the investment behaviour of authorised insurance undertakings and authorised reinsurance undertakings and whether any of these measures provide undue capital relief;

(e) its assessment of the effect of any extension of the recovery period in accordance with Article 138(4) of the Solvency II Directive on the efforts of authorised insurance and reinsurance undertakings to re-establish the required level of eligible own funds covering the Solvency Capital Requirement or to reduce the risk profile in order to ensure compliance with the Solvency Capital Requirement;

(f) where authorised insurance undertakings and authorised reinsurance undertakings apply the transitional measures set out in regulations 15 and 16 of the Insurance Business (Solvency II Transitional Provisions) Regulations, 2015, whether they comply with the phasing-in plans referred to in regulation 17 of the said regulations and the prospects of such undertakings reducing their dependency on these transitional measures, including measures that have been taken or are expected to be taken by the undertakings and the competent authority, taking into account the Maltese regulatory environment.