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ARTICLE · 25 JULY 2017

Insurance Quarterly Legislative Update 1 April 2017 - 30 June 2017

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On 5 April 2017, EIOPA published a number of documents relating to the methodology and calculations for the ultimate forward rate (the "UFR"), the principles of which are defined in the Solvency II legislation.

IrelandInsurance
Dillon Eustace
Dillon Eustace
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INSURANCE QUARTERLY LEGAL AND REGULATORY UPDATE

Solvency II

(i) EIOPA releases methodology and calculations for the ultimate forward rate under Solvency II

On 5 April 2017, EIOPA published a number of documents relating to the methodology and calculations for the ultimate forward rate (the "UFR"), the principles of which are defined in the Solvency II legislation. The UFR Methodology will be applied for the first time in the calculation of the risk-free interest rates of January 2018. The methodology is a result of extensive work and the documents published include the following:

Specification of the methodology to derive the UFR: This sets out information on updates to the UFR. EIOPA will annually calculate the UFRs and, where they are sufficiently different according to the methodology from the then applicable UFRs, EIOPA will update them at the beginning of the next year. The updated UFRs will be announced every year by the end of March. Nine months

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