Review of long-term guarantees and measures on equity risk

The Federal Institute informs the European Insurance and Occupational Pensions Authority, until 1 January 2021, each year, of the following:
1. the availability of long-term guarantees in insurance contracts on its domestic markets, and the conduct of insurance undertakings as long-term investors;
2. the number of insurance undertakings applying the matching adjustment, the volatility adjustment, the extension of the period for restoring a sound financial position under section 134(4), the duration-based equity risk sub-module, and the transitional measures under sections 351 and 352;
3. the effects of the matching adjustment, the volatility adjustment, the symmetric adjustment of the capital requirement for equity investments under section 106(1), the duration-based equity risk sub-module, and the transitional measures under sections 351 and 352, on the financial position of the insurance undertakings, at national level and anonymised for each undertaking;
4. the effects of the matching adjustment, the volatility adjustment, the symmetric adjustment of the capital requirements for equity investments under section 106(1), and the duration-based equity risk sub-module, on the investment behaviour of insurance undertakings, and whether this leads to inappropriate capital relief;
5. the effects of an extension of the period for restoring a sound financial position under section 134(4) on insurance undertakings' efforts to raise the eligible own funds or to reduce the risk profile in order to satisfy the Solvency Capital Requirement;
6. the fulfilment or non-fulfilment of the plans concerning transitional measures under section 353 by insurance undertakings applying these transitional measures under sections 351 and 352, and the likelihood of reduced reliance on these transitional measures, including measures taken or expected to be taken by the undertakings and the supervisory authorities, having regard to the applicable regulatory environment.