It is necessary that the expected present value of insurance liabilities is calculated on the basis of current and credible information and realistic assumptions, taking account of financial guarantees and options in insurance or reinsurance contracts, to deliver an economic valuation of insurance or reinsurance obligations. The use of effective and harmonised actuarial methodologies should be required.
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New version applies from 31/03/2015 — introduced by Directive 2014/51/EU.
145 provisions change.
Later versions: 12/01/2017, 09/07/2018, 13/01/2019, 30/06/2021, 19/10/2021, 09/01/2024, 17/01/2025, 30/01/2027.
Recital 58 changes in this version: compare with the current text.