IVASS has published its letter to the market of 4 March 2022 on the timing and operational modalities for the communication of information related to supervisory reporting (the “Letter to the Market”). The Letter to the Market is addressed – among the others – to Italian insurance undertakings and EEA insurance undertakings authorised to operate in Italy under right of establishment as well as EEA insurance undertakings authorised to operate in Italy under freedom to provide services in classes 10 (third party motor liability) and 12 (third party craft liability).
The Letter to the Market, together with the related annexes, detail the main obligations for sending the supervisory reports to IVASS with a reference date of 2022 or to be sent during 2022, including the methods of transmission through the Infostat platform and the relevant deadlines. The indicated deadlines do not include the surveys activated by IVASS on a temporary basis to meet specific supervisory or EIOPA requirements, such as the monitoring of liquidity, solvency and investments for which specific instructions have already been provided.
Reports provided under EU legislation
With reference to the year 2022, the following chart shows the required reports pursuant to Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 and the expected timing for the submission of data. The content of the surveys shall be transmitted to IVASS through the Infostat platform.
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Survey
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Reporting entities
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Reference date
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Deadline for submission of data
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QES/QEB
Quarterly Reporting Solo /Third Country Branches
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Insurance and reinsurance undertakings with registered office in Italy and Italian branches of non-EU undertakings
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31 March 2022
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5 May 2022
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30 June 2022
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4 August 2022
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30 September 2022
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4 November 2022
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31 December 2022
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6 February 2023
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AES/AEB
Annual Reporting Solo /Third Country Branches
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Insurance and reinsurance undertakings with registered office in Italy and Italian branches of non-EU undertakings
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31 December 2022
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10 April 2023
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QRG
Quarterly Reporting Group
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Ultimate Italian parent companies
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31 March 2022
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16 June 2022
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30 June 2022
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15 September 2022
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30 September 2022
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16 December 2022
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31 December 2022
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20 March 2023
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ARG
Annual Reporting Group
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Ultimate Italian parent companies
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31 December 2022
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19 May 2023
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QFS/QFG
Quarterly Financial Solo/Group
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Insurance and reinsurance undertakings with registered offices in Italy and ultimate Italian parent companies
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31 March 2022
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19 May 2022
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30 June 2022
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18 August 2022
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30 September 2022
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18 November 2022
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31 December 2022
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20 February 2023
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AFS/AFG
Annual Financial Solo/Group
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Insurance and reinsurance undertakings with registered offices in Italy and ultimate Italian parent companies
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31 December 2022
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20 February 2023
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Reports provided under Italian legislation
The following chart shows the Infostat surveys set up under Italian regulations for the collection of local gaap information and the corresponding reporting deadlines.
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Survey
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Reporting entities
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Reference date
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Deadline for submission of data
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PTRIM
Quarterly premium statistics
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Insurance undertakings with registered office in Italy;
Insurance undertakings with registered office in a Third Country authorised to operate in Italy under right of establishment;
Insurance undertakings with registered office in a EEA State authorised to operate in Italy under right of establishment.
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31 March 2022
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2 May 2022
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30 June 2022
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1 August 2022
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30 September 2022
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31 October 2022
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31 December 2022
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15 February 2023
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TANBI
Balance sheet anticipations
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Insurance and reinsurance undertakings with registered office in Italy;
Insurance and reinsurance undertakings with registered office in Third Country authorised to operate in Italy under right of establishment.
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31 December 2021
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31 March 2022
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BILIN
Annual individual balance sheet
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Insurance and reinsurance undertakings with registered office in Italy;
Insurance and reinsurance undertakings with registered office in a Third Country authorised to operate in Italy under right of establishment.
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31 December 2021
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Within one month from the date of approval
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BILCO
Annual consolidated balance sheet
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Undertakings referred to in articles 95 and 96 of the Italian Insurance Code;
Undertakings referred to in article 20 of ISVAP Regulation n. 7 of 13 July 2007.
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31 December 2021
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Within one month from the date of approval
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PREST
Premiums collected abroad
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Insurance and reinsurance undertakings with registered office in Italy.
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31 December 2021
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30 June 2022
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DTRCA
Motor Liability Technical Data
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ONLY UNDERTAKINGS OPERATING IN ITALY IN THIRD PARTY MOTOR LIABILITY CLASS THIRD PARTY CRAFT LIABILITY
Insurance undertakings with registered office in Italy;
Insurance undertakings with registered office in a Third Country authorised to operate in Italy under right of establishment;
Undertakings with registered office in a EEA State authorised to operate in Italy under right of establishment and/or freedom to provide services.
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31 December 2021
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15 April 2022
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SEMRE
Individual half-yearly report
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Insurance and reinsurance undertakings with registered office in Italy;
Insurance and reinsurance undertakings with registered office in a Third Country authorised to operate in Italy under right of establishment.
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30 June 2022
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Within one month from the date of approval
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SEMCO
Consolidated half-yearly report
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Undertakings referred to in articles 95 and 96 of the Italian Insurance Code;
Undertakings referred to in article 20 of ISVAP Regulation n. 7 of 13 July 2007.
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30 June 2022
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Within one month from the date of approval
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COPRT
Assets covering reserves
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Insurance and reinsurance undertakings with registered office in Italy;
Italian branches of insurance undertakings with registered office in a Third Country.
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31 March 2022
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5 May 2022
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30 June 2022
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4 August 2022
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30 September 2022
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4 November 2022
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31 December 2022
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6 February 2023
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GSFUR
Segregated accounts technical reserves
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Insurance and reinsurance undertakings with registered office in Italy.
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31 December 2021
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Within one month from the date of approval of the balance sheet
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RPSI
Exposure to interest rate risk
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Life insurance undertakings with registered office in Italy.
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30 June 2022
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1 August 2022
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31 December 2022
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30 January 2023
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Authored by Silvia Lolli and Davide Valloni.
