57. CEA BS-C1 It may be the case that the scope of entities under consolidated Statutory column will not – Groups accounts is larger than that of the scope of entities under Solvency be subject to public II group supervision. A direct comparison between Solvency II and disclosure. statutory accounting valuation columns will therefore not be possible. For public disclosure, it would mean that the Solvency II balance sheet is misleading and for this reason, we propose not to disclose the statutory accounting valuation column and instead provide a narrative explanation of the differences arising between the two columns. 59. German Insurance BS-C1 It may be the case that the scope of entities under consolidated Please see comment n. – Association (GDV) Groups accounts is larger than that of the scope of entities under Solvency 57 II group supervision. A direct comparison between Solvency II value and statutory accounts valuation columns will therefore not be possible. For public disclosure, it would mean that the Solvency II balance sheet is misleading and for this reason, we propose not to disclose the statutory accounts valuation column and provide a narrative explanation of the differences arising between the two columns. 60. KPMG BS-C1 Guidance is required on the consolidation methodology to be applied The treatment of related – Groups in preparing a group balance sheet and related disclosures. We undertakings in group expect the systems design and build effort to be greatest for groups solvency calculation is in and such guidance is key to allow these activities to begin. L2. Additional guidance Particular guidance is required on the following topics: will be provided in L3. - Treatment of other financial sector subsidiaries in the Group Solvency II balance sheet - Treatment of associates and joint ventures in the Group Solvency II balance sheet
57. CEA BS-C1 – Groups It may be the case that the scope of entities under consolidated accounts is larger than that of the scope of entities under Solvency II group supervision. A direct comparison between Solvency II and statutory accounting valuation columns will therefore not be possible. For public disclosure, it would mean that the Solvency II balance sheet is misleading and for this reason, we propose not to disclose the statutory accounting valuation column and instead provide a narrative explanation of the differences arising between the two columns. Statutory column will not be subject to public disclosure. 59. German Insurance Association (GDV) BS-C1 – Groups It may be the case that the scope of entities under consolidated accounts is larger than that of the scope of entities under Solvency II group supervision. A direct comparison between Solvency II value and statutory accounts valuation columns will therefore not be possible. For public disclosure, it would mean that the Solvency II balance sheet is misleading and for this reason, we propose not to disclose the statutory accounts valuation column and provide a narrative explanation of the differences arising between the two columns. Please see comment n. 57 60. KPMG BS-C1 – Groups Guidance is required on the consolidation methodology to be applied in preparing a group balance sheet and related disclosures. We expect the systems design and build effort to be greatest for groups and such guidance is key to allow these activities to begin. Particular guidance is required on the following topics: - Treatment of other financial sector subsidiaries in the Group Solvency II balance sheet - Treatment of associates and joint ventures in the Group Solvency II balance sheet The treatment of related undertakings in group solvency calculation is in L2. Additional guidance will be provided in L3.
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