1.The solvency and financial condition report shall contain all of the following information regarding the system of governance of the insurance or reinsurance undertaking:
a description of the structure of the undertaking’s administrative, management or supervisory body, of its main roles and responsibilities and of the segregation of responsibilities within those bodies, and in particular whether relevant committees exist within them, and a description of the main roles and responsibilities of key functions or, where a solvency and financial condition report has already been submitted, any material changes in the system of governance that have taken place compared to the previous reporting period;
information on the remuneration policy and practices regarding administrative, management or supervisory body and, unless otherwise stated, employees, including:
principles of the remuneration policy, with an explanation of at least the relative importance of the fixed and variable components of remuneration and deferral of variable component and how the remuneration policy is consistent with the integration of sustainability risks;
information on the individual and collective performance criteria on which any entitlement to share options, shares or variable components of remuneration is based;
a description of the main characteristics of supplementary pension or early retirement schemes for the members of the administrative, management or supervisory body and other key function holders;
information about material transactions during the reporting period with shareholders, with persons who exercise a significant influence on the undertaking, and with members of the administrative, management or supervisory body.
2.The solvency and financial condition report shall identify any critical or important operational functions or activities outsourced, and shall contain the names of the service providers to whom any critical or important operational functions or activities have been outsourced and the jurisdiction in which the service providers of such functions or activities are located.
3.The solvency and financial condition report shall contain in a separate section any other material information regarding the system of governance of the insurance or reinsurance undertaking.