1.The regular supervisory report shall include any important information, other than that already disclosed in the solvency and financial condition report of the insurance or reinsurance undertaking, regarding the valuation of its assets, technical provisions and other liabilities for solvency purposes.
2.The regular supervisory report shall include a description of:
(a)the relevant assumptions about future management actions;
(b)the relevant assumptions about policyholder behaviour.
2.The regular supervisory report shall describe in detail the most relevant assumptions used in the calculation of the best estimate, the sensitivity of the best estimate to changes and results of any back testing.
3.The regular supervisory report shall includecontain the following information onregarding the areasobligations setlaid outdown in Article 263 of this Regulation in complying with the reporting requirements of the insurance or reinsurance undertaking in relation to valuation for solvency purposes.Regulation:
(a)a justification of why alternative valuation methods are used by class of assets and liabilities;
(b)the assumptions of each alternative valuation method used for assets and liabilities;
(c)the valuation uncertainty by class of assets and liabilities;
(d)information about the adequacy of the valuation of the assets and liabilities for which the alternative valuation is used, assed by comparison against experience.
4.Where insurance or reinsurance undertakings value assets or liabilities based on the valuation methods they use to prepare their financial statements in accordance with Article 9(4) of this Regulation, they shall report an assessment, in qualitative and quantitative terms, of the criterion set out in Article 9(4)(d).