{
  "url": "https://openlegislation.uk/eu-directive-2009-138/article-78",
  "json_url": "https://openlegislation.uk/eu-directive-2009-138/article-78.json",
  "legislation": "eudr/2009/138",
  "legislation_title": "Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-directive-2009-138",
  "path": "article/78",
  "kind": "article",
  "number": "78",
  "heading": "Other elements to be taken into account in the calculation of technical provisions",
  "text": "In addition to Article 77, when calculating technical provisions, insurance and reinsurance undertakings shall take account of the following:\n(1) all expenses that will be incurred in servicing insurance and reinsurance obligations;\n(2) inflation, including expenses and claims inflation;\n(3) all payments to policy holders and beneficiaries, including future discretionary bonuses, which insurance and reinsurance undertakings expect to make, whether or not those payments are contractually guaranteed, unless those payments fall under Article 91(2).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/2009/138/article/78",
    "retrieved_at": "2026-11-01T15:22:05.454940+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}