{
  "url": "https://openlegislation.uk/eu-regulation-2018-1699/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-1699/article-1.json",
  "legislation": "eur/2018/1699",
  "legislation_title": "Commission Implementing Regulation (EU) 2018/1699 of 9 November 2018 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September 2018 until 30 December 2018 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2018-1699",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": null,
  "text": "1. Insurance and reinsurance undertakings shall use the technical information referred to in paragraph 2 when calculating technical provisions and basic own funds for reporting with reference dates from 30 September 2018 until 30 December 2018.\n2. For each relevant currency, the technical information used to calculate the best estimate in accordance with Article 77 of Directive 2009/138/EC, the matching adjustment in accordance with Article 77c of that Directive and the volatility adjustment in accordance with Article 77d of that Directive shall be the following:\n(a) the relevant risk-free rate term structures set out in Annex I;\n(b) the fundamental spreads for the calculation of the matching adjustment set out in Annex II;\n(c) for each relevant national insurance market, the volatility adjustments set out in Annex III.",
  "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/eur/2018/1699/article/1",
    "retrieved_at": "2026-11-01T14:43:50.162529+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."
}