253. Association of BS-C1- cell L22 This information is currently only available on an annual Please see comment n. British Insurers Approximations may be possible at an additional cost but we would 254 (ABI) propose that pension obligations are only required to be updated annually. 254. CEA BS-C1- cell L22 This comment applies to L22 to LS22. Approximations should be allowed in order to calculate the Solvency Information on valuation II value for pension benefit obligations. A respective guideline should will be in L2 and L3 on be included in the general reporting requirements. valuation. 256. German Insurance BS-C1- cell L22 This comment applies to L22 LS22. Please see comment n. – Association (GDV) 254 Approximations should be allowed in order to calculate the Solvency II value for pension benefit obligations. A respective guideline should be included in the general reporting requirements. 257. NFU Mutual BS-C1- cell L22 Pension benefit obligations are only normally calculated annually. We Please see comment n. assume either that the latest full review (annual) will suffice, or that 254 estimation can be used on a quarterly basis. 258. Association of BS-C1- cell L23 We do not agree with the recognition of contingent liabilities in the Please see comment n. British Insurers Solvency II balance sheet, unless recognised for accounting 259 (ABI) purposes. If contingent liabilities have not been accounted for under IAS37 it is because it is not clear that they actually are liabilities at a balance sheet date. Also, in many instances they would be very difficult to value with any degree of robustness and the value assigned would be very subjective. Narrative disclosure of these would be more appropriate. But we caution against requiring public
253. Association of British Insurers (ABI) BS-C1- cell L22 This information is currently only available on an annual Approximations may be possible at an additional cost but we would propose that pension obligations are only required to be updated annually. Please see comment n. 254 254. CEA BS-C1- cell L22 This comment applies to L22 to LS22. Approximations should be allowed in order to calculate the Solvency II value for pension benefit obligations. A respective guideline should be included in the general reporting requirements. Information on valuation will be in L2 and L3 on valuation. 256. German Insurance Association (GDV) BS-C1- cell L22 This comment applies to L22 – LS22. Approximations should be allowed in order to calculate the Solvency II value for pension benefit obligations. A respective guideline should be included in the general reporting requirements. Please see comment n. 254 257. NFU Mutual BS-C1- cell L22 Pension benefit obligations are only normally calculated annually. We assume either that the latest full review (annual) will suffice, or that estimation can be used on a quarterly basis. Please see comment n. 254 258. Association of British Insurers (ABI) BS-C1- cell L23 We do not agree with the recognition of contingent liabilities in the Solvency II balance sheet, unless recognised for accounting purposes. If contingent liabilities have not been accounted for under IAS37 it is because it is not clear that they actually are liabilities at a balance sheet date. Also, in many instances they would be very difficult to value with any degree of robustness and the value assigned would be very subjective. Narrative disclosure of these would be more appropriate. But we caution against requiring public Please see comment n. 259
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