solvency and financial condition report (sfcr) group
TRANSCRIPT
Solvency and Financial Condition Report (SFCR) Group:
Solomon Estates Limited HMCA Insurance Limited
November 2020
FINANCIAL YEAR END: 30 JUNE 2020
Group and HIL SFCR 2020 P a g e | 2
Contents
Executive Summary ................................................................................................................................................................................... 3
A. Business and performance ............................................................................................................................................................... 7
A.1. Business and external environment .............................................................................................................................................. 7
A.2. Underwriting performance ......................................................................................................................................................... 10
A.3. Performance from investment activities ..................................................................................................................................... 10
A.4. Performance of other activities .................................................................................................................................................. 12
A.5. Any other disclosures .................................................................................................................................................................. 12
B. System of Governance .................................................................................................................................................................. 13
B.1. General governance arrangements ............................................................................................................................................ 13
B.2. Fit and proper requirements ...................................................................................................................................................... 15
B.3. Risk management system ........................................................................................................................................................... 15
B.4. Own risk and solvency assessment (ORSA) .................................................................................................................................. 18
B.5. Internal control system ................................................................................................................................................................ 18
B.6. Internal audit function ................................................................................................................................................................. 19
B.7. Actuarial function ........................................................................................................................................................................ 19
B.8. Outsourcing ................................................................................................................................................................................. 20
B.9. Any other disclosures................................................................................................................................................................... 20
B.10. Reporting at group level ........................................................................................................................................................... 20
C. Risk profile ..................................................................................................................................................................................... 21
C.1. Underwriting risk ........................................................................................................................................................................ 21
C.2. Market risk .................................................................................................................................................................................. 21
C.3. Credit risk .................................................................................................................................................................................... 23
C.4. Liquidity risk ................................................................................................................................................................................ 24
C.5. Operational risk .......................................................................................................................................................................... 24
C.6. Other material risks ..................................................................................................................................................................... 25
C.7. Any other disclosures .................................................................................................................................................................. 25
D. Valuation for solvency purposes ................................................................................................................................................... 26
D.1. Assets .......................................................................................................................................................................................... 26
D.2. Technical provisions ................................................................................................................................................................... 27
D.3. Other liabilities ........................................................................................................................................................................... 27
D.4. Any other disclosures .................................................................................................................................................................. 28
E. Capital management ..................................................................................................................................................................... 29
E.1. Own Funds .................................................................................................................................................................................. 29
E.2. Minimum capital requirement and solvency capital requirement ............................................................................................. 30
E.3. Use of the duration-based equity risk sub-module in the calculation of the Solvency Capital Requirement ............................. 32
E.4. Differences between the standard formula and any internal model used ................................................................................. 32
E.5. Non-compliance with the Minimum Capital Requirement and with the Solvency Capital Requirement ................................... 32
E.6. Any other disclosures .................................................................................................................................................................. 32
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Executive Summary
This Solvency and Financial Condition Report (SFCR) is produced on a group basis. The group consists of
Solomon Estates Limited (SEL or Group) as the parent entity owning 100% of the shares of HMCA Insurance
Limited (HIL or Company).
Business performance
Group
The principle activity of SEL is that of a non-trading insurance holding company. The Company’s principle
investment is in HIL from whom it receives dividends.
HIL
The principal activities of HIL are the underwriting of private medical insurance, hospital cash plan and dental
plan products.
The Company is licensed by the Gibraltar Financial Services Commission to underwrite the following insurance
classes under the Financial Services (Insurance Companies) Act:
▪ Accident – Class 1,
▪ Sickness – Class 2, and
▪ Miscellaneous Financial Loss – Class 16.
The Company underwrites business in the United Kingdom (“UK”) and the Republic of Ireland (“ROI”) on a
freedom of services basis, and to a far smaller degree in Gibraltar. As at the time of publication of this report,
the exact nature of the UK’s departure from the EU is unknown, therefore there is considerable uncertainty
surrounding the ongoing nature of the ROI lines of business. Please note that all figures stated in this report
are expressed as GBP sterling.
During the year ended 30 June 2020, the Company wrote £14.3m (2019: £13.6m) of gross premium. Technical
profit of £3.2m (2019: £3.5m) was slightly lower due increased claims provisions.
Performance: 2020 2019
Group net assets 23,981,444 22,904,014
Group net profit 1,077,430 2,284,298
Performance: 2020 2019
HIL net assets 23,854,457 21,952,389
HIL net profit 1,902,067 3,177,497
Group and HIL SFCR 2020 P a g e | 4
Net profit of £1.9m (2019: £3.2m) was lower than budget for the year, mainly due to lower investment income.
See table below for detailed analysis.
2020 2019 Movement %
Balance on Technical Account 3,157,747 3,458,149 (8.7%)
Total investment income 94,683 1,180,178 (91.2%)
Investment expenses (56,979) (57,789) (1.4%)
Other income - - -
Other charges (1,080,661) (1,174,209) (8.0%)
Profit before tax 2,114,790 3,406,330 (37.9%)
Tax (212,723) (228,833) (7.0%)
Profit after tax 1,902,067 3,177,497 (40.1%)
The resultant profit for the year of £1.9m (2019: £3.2m) was transferred to reserves. During the year no
dividends were paid (2019 £1.8m).
The Company remains committed to the business model that it is familiar with and is very well capitalised, as
it has generated profits in every financial year since it started trading.
Fin. Year 2007 2008 2009 2010 2011 2012 2013
Revenue 7,949 8,463 8,934 8,790 9,551 9,865 9,815
Movement % - 6% 6% (2%) 9% 3% (1%)
Profit after tax 477 1,631 1,508 976 1,154 829 1,861
Fin. Year 2014 2015 2016 2017 2018 2019 2020
Revenue 9,871 10,368 10,650 11,852 12,852 13,611 14,330
Movement % 1% 5% 3% 11% 8% 6% 5%
Profit after tax 2,138 1,839 2,221 2,265 1,690 3,177 1,902 Amounts are £000s
Given that the business underwritten by the Company has been stable and profitable for numerous years, only
small inflationary changes are made to the rating structure at the start of each underwriting year, mainly to
cover claims inflation.
The Company has not entered into any reinsurance outwards contracts.
Solvency II
Since Solvency II came into force on 1 January 2016, the valuation of the balance sheet and the Solvency
Capital Requirement under Solvency II is recalculated periodically with the aid of a standard-formula-based
capital model provided by an external firm.
In relation to the Solvency II balance sheet, specific valuation rules are defined in the Solvency II Delegated
Regulations for several balance sheet items that might differ from the rules and options available under
International Financial Reporting Standards/Gibraltar GAAP.
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Group
Balance sheet of the Group for the year ended 30 June 2020:
HIL
Balance sheet of the Company for the year ended 30 June 2020:
Besides underwriting risk, the other significant risk identified by the Company is market risk, in particular
equity risk. The portfolio of financial investments is valued at £14.1m in the financial statements as at this
reporting date. The Board continues monitoring national and international developments, geopolitical issues,
global market volatility, in order to reduce the overall volatility of the Company’s investment portfolio.
System of Governance
The Company has in place a System of Governance (SoG) which it implemented, in a proportionate manner.
This SoG addresses the following important areas of the Company:
• Terms of Reference for the Board and the Sub-Committees
• Risk Management framework
• Key functions (Actuarial, Risk Management, Internal Audit and Compliance)
• Risk Policies for all the main risks
• Risk Appetite Strategy
• Own Risk and Solvency Assessment (ORSA)
• Fit and Proper Policy
• Scenario and Stress Testing, Reverse Stress Testing and a Recovery & Resolution Plan
• Outsourcing
Statutory accounts Solvency II value
Total assets 36,846,322 28,767,164
Total liabilities, including technical provisions 12,864,878 4,461,272
Shareholder funds/Own funds 23,981,444 24,305,892
Statutory accounts Solvency II value
Total assets 36,711,831 28,632,673
Total liabilities, including technical provisions 12,857,374 4,453,768
Shareholder funds/Own funds 23,854,457 24,178,905
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Capital management processes
The Company has a robust capital management process in place which interacts with the risk management
function. This capital management process relies on a capital model tool (acquired from an external provider)
which is run periodically to evaluate the various risks the Company is subject to. It also produces a solvency
ratio (defined here as the ratio of available capital/own funds to the regulatory capital requirement).
Per the Company’s Capital Management Strategy, HIL should always hold a minimum target SCR buffer of
100% (solvency ratio of 200%), and for scenario/stress tests in the Company’s ORSA exercise a minimum
Economic Capital ratio of 100% for individual stress tests/scenarios. Here Economic Capital is defined as the
shortfall in own funds following a stress test/scenario, plus the SCR after the event. The Economic Capital ratio
is the own funds before the stress event divided by the Economic Capital for a given stress event/scenario.
As at 30 June 2020, HIL had available SII own funds of £24,178k (2019 £22,305k), compared to a calculated
SCR and MCR of £5,592k and £2,153k (2019 £5,581k and £2,222k) respectively – this translates to SCR & MCR
solvency ratios of 396% and 1029% (2019 400% and 1004%).
The Company expects its current own funds surplus over the Solvency II capital requirement to continue to
increase, as no significant changes are foreseen in relation to material lines of business or risk appetite. In the
new group structure, the Board will determine the appropriate level of dividends, whilst maintaining prudent
solvency ratios.
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A. Business and performance
A.1. Business and external environment
A.1.1. Undertaking, financial supervisory authority and external auditor
SEL
Name of undertaking: Solomon Estates Limited
Address of its registered office: 79, Prince Edwards Road Gibraltar
Legal status: Private Company Limited by Shares The ultimate controlling party is J D Skrentny Company registration number: 116784 HIL
Name of the undertaking: HMCA Insurance Limited
Address of its registered office: 33/2 Cannon Lane
Gibraltar
Tel: +350 200 61430
Fax: +350 200 61431
E-Mail: [email protected]
Legal status: Private Company Limited by Shares
The ultimate controlling party is J D Skrentny
Company registration number: 96060
Name of the group’s financial supervisory authority: Gibraltar Financial Services Commission
Contact details: PO Box 940
Suite 3, Ground Floor
Atlantic Suites
Europort Avenue
Gibraltar
Tel: +350 200 40283
Website: www.gfsc.gi
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Name of the group’s external auditor: RSM Audit (Gibraltar) Limited
Contact details: 21 Engineers Lane
Gibraltar
The Company is authorised to write business via the ‘freedom to provide services’ legislation in the following
countries:
▪ Ireland (Accident, Sickness).
▪ United Kingdom (Accident, Sickness, Miscellaneous Financial Loss).
A.1.2. Material line of business and geographical areas where the Company carries out business
Group
The principal activity of SEL is that of an insurance holding company. During the prior financial year, the company acquired the shares in HIL via a share for share exchange with the shareholder of the Company.
HIL
The Company was originally set up to underwrite the healthcare business of an insurance intermediary in the
UK, HMCA/S PLC (HMCA). Having established itself as a profitable underwriter of this business, the Company
is looking for opportunities to expand. The Board continues to develop new health plans and seek other UK
business partners in similar business lines with a view to expanding its customer base.
HIL underwrote business in the United Kingdom (“UK”) and the Republic of Ireland (“ROI”) on a freedom of
services basis, and in Gibraltar during the reporting period. However, as at this report date, the ‘Brexit’
uncertainty remains and the Company is therefore still unable to make final decisions regarding the continuity
of passporting to ROI, therefore the Board continues to concentrate its development plans in the UK.
A.1.3. Internal or external events
SEL
No relevant events to report.
HIL
No relevant events to report.
A.1.4. Main factors contributing to the position of the Company
SEL
The main factors are the continuing receipt of dividends from its subsidiary, HIL.
Group and HIL SFCR 2020 P a g e | 9
HIL
During the year ended 30 June 2020, the Company wrote £14.3m (2019: £13.6m) of gross premium. Technical
profit of £3.2m (2019: £3.5m) was slightly lower than expected but reflects the Company’s prudent approach
to claims provisions in response to the uncertainties regarding the potential future impact of Covid-19 on
claims.
Net profit of £1.9m (2019: £3.2m) was lower than budget for the year, mainly due to lower unrealised profits
on investments of £56k (2019: £617k)
2020 2019 Movement %
Balance on Technical Account 3,157,747 3,458,149 (8.7%)
Total investment income 94,681 1,180,178 (91.2%)
Investment expenses (56,979) (57,789) (1.4%)
Other income - - -
Other charges (1,080,661) (1,174,209) (8.0%)
Profit before tax 2,114,790 3,406,330 (37.9%)
Tax (212,723) (228,833) (7.0%)
Profit after tax 1,902,067 3,177,497 (40.1%)
The resultant profit for the year of £1.9m (2019: £3.2m) was transferred to reserves. No dividends were paid
during the year (2019 £1.8m)
The Company remains committed to the business that it is familiar with and is very well capitalised, as it has
generated profits in every financial year since it started trading.
Fin. Year 2007 2008 2009 2010 2011 2012 2013
Revenue 7,949 8,463 8,934 8,790 9,551 9,865 9,815
Movement % - 6% 6% (2%) 9% 3% (1%)
Profit after tax 477 1,631 1,508 976 1,154 829 1,861
Fin. Year 2014 2015 2016 2017 2018 2019 2020
Revenue 9,871 10,368 10,650 11,852 12,852 13,611 14,330
Movement % 1% 5% 3% 11% 8% 6% 5%
Profit after tax 2,138 1,839 2,221 2,265 1,690 3,177 1,902 Amounts are £000s
Group and HIL SFCR 2020 P a g e | 10
A.2. Underwriting performance
Group
SEL is not directly authorised to conduct any underwriting activity. Underwriting is performed by its subsidiary,
HIL.
HIL
During the year ended 30 June 2020, gross written premiums increased by 5.3% compared to the prior year,
and gross claims incurred increased by 26.6% during the same period.
PROFIT AND LOSS ACCOUNT for the year ended 30 June 2020 – Technical Account:
2020 2019 Movement %
Gross written premiums 14,329,523 13,611,358 5.3%
Gross earned premiums 13,833,352 13,037,794 6.1%
Gross claims incurred (5,625,854) (4,805,767) 26.6%
Net operating expenses (5,049,751) (4,773,878) 5.78%
Balance on technical account 3,157,747 3,458,149 (8.7%)
Accident and health business* - underwriting performance:
2020 UK 2019 UK % increase 2020 ROI 2019 ROI % increase
Gross written premium
13,227,104 12,641,595 4.63% 1,102,419 969,763 13.7%
Gross earned premium
12,886,952 12,085,882 6.6% 946,400 951,912 (0.6%)
Gross claims incurred
(5,343,549) (4,546,811) 17.5% (282,305) (258,956) 9.0%
Gross operating expenses
(4,390,610) (4,115,653) 6.7% (659,141) (658,225) 0.1%
Balance on technical account
3,152,793 3,423,418 (7.9%) 4,954 34,731 (85.7%)
A.3. Performance from investment activities
A.3.1. Investment income performance over the year ended 30 June 2020
Group
2020 2019 Movement %
Investment income 94,683 1,180,179 (92.0%)
Income from other financial investments 354,691 483,211 (26.6%)
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Unrealised gains/(losses) on other financial investments
56,399
616,597 (90.9%)
Realised gains/(losses) on other financial investments
(179,407) 80,371 (323.2%)
Unrealised losses on land & buildings (137,000) - (100.0%)
HIL
2020 2019 Movement %
Investment income 94,683 1,180,179 (92.0%)
Income from other financial investments 354,691 483,211 (26.6%)
Unrealised gains/(losses) on other financial investments
56,399 616,597 (90.9%)
Realised gains/(losses) on other financial investments
(179,407) 80,371 (323.2%)
Unrealised losses on land & buildings (137,000) - (100.0%)
A.3.2. Investment expenses performance over the year ended 30 June 2020
HIL
Investment expenses of £57k (2019: £58k). This decrease was due to a reduced investment portfolio size
resulting in lower monthly fees.
A.3.3. Investments held
Group
2020 2019 Movement %
Land & buildings 1,656,000 1,793,000 (7.6%)
Financial investments 14,114,772 14,390,178 (1.9%)
Total investments 15,770,772 16,183,178 (2.5%)
HIL
2020 2019 Movement %
Land & buildings 1,656,000 1,793,000 (7.6%)
Financial investments 14,114,772 14,390,178 (1.9%)
Total investments 15,770,772 16,183,178 (2.5%)
The financial investments were reduced during the year on the strategy of reducing the equity investment
contents of the portfolio.
During the year there was an unrealised loss of £137K on property investment.
Group and HIL SFCR 2020 P a g e | 12
A.4. Performance of other activities
Group
SEL made charitable donations of £380,175 (2019 £340,542) during the period.
HIL
Other charges (non-underwriting expenses/ general overheads) incurred over the year ended 30 June 2020:
2020 2019 Movement %
Other charges 1,080,661 1,174,209 (8.0%)
A.5. Any other disclosures
SEL
No other disclosures to report.
HIL
Other disclosures for the year ended 30 June 2020 useful to the reader:
2020 2019 Movement %
Cash at bank 11,750,744 7,812,821 50.4%
Insurance related debtors 5,765,785 6,119,896 (5.8%)
Insurance related creditors (2,093,585) (2,185,987) (4.2%)
Insurance contract liabilities (2,252,981) (1,173,350) 131.3%
Unearned premium reserve (7,945,726) (7,449,555) 6.7%
The increase in cash at bank was largely due to the sale of investments in the period.
Group and HIL SFCR 2020 P a g e | 13
B. System of Governance
B.1. General Governance arrangements
Group
With HIL being the key regulated entity under Solvency II, HIL provides the lead in general governance which
SEL adopts as appropriate to its own activities.
HIL
The Company has a System of Governance (“SOG”) together with a Governance structure in place.
The SOG has been designed around a Risk Management framework together with its related controls and
processes, and is strengthened by outsourced internal audit and actuarial service providers to assist the
Company’s internal audit and actuarial function holders.
B.1.1. System of governance
a. Risk Management framework: This framework consists of a set of policies, processes and procedures (including the ORSA process) covering all the possible risks the Board of the Company expects the company could/may face. Each policy outlines the underlying principles together with the controls which the Company uses to manage the specified risk. Ownership, together with the controls, limits and escalation procedures are also described in those policies.
b. Risk Appetite Statement: This is a broad statement which describes the risk appetite (and hence the risks) that the Company is willing to operate within. The Company is very risk averse with respect to underwriting risk, and this is reflected in the way it conducts its insurance business. In the past the Company has had a higher tolerance for market & equity risk given the low yield and increasing economic growth environments. However as mentioned previously, the Board decided to de-risk HIL’s equity exposure in 2019, from an asset allocation of 75% to just under 40% of its investment portfolio – this was due to several global geopolitical issues/protectionism on the increase, rising interest rates and increased market volatility. The Board continues to seek investment advice as needed.
c. The success of the company so far is a clear indication of an adequate risk appetite strategy.
d. In the course of the year additional new initiatives were completed. These consisted of: (i) recovery and resolution planning added to the exercise; (ii) completion of phase 3 of the Company’s three year Internal Audit cycle; (iii) outsourcing policy/binder review work to a HIL executive director to provide assistance to the accounts department, and (iv) production of the annual internal actuarial report for the Board to review, which again considered the need or otherwise of reinsurance.
B.1.2. Structure of the administrative, management or supervisory body
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The company is structured as follows:
The Board's primary roles are overseeing corporate performance and providing quality, depth and continuity
of management to meet the Company's strategic objectives, business plan and budget.
The Board has established the following Sub-Committees:
▪ Risk, Audit and Compliance (RAC),
▪ Investment,
▪ Reserving
The Board has approved the terms of reference for each Board Sub-Committee.
The Board has delegated for approval or review the matters set out in each Board Sub- Committee's terms
of reference to that Sub-Committee. Where appropriate the Board may delegate authority to the Sub-
Committee to enter into or complete transactions on behalf of the Board. The Board will identify such
authorities to the Sub- Committee in writing and the Sub- Committee shall report to and be accountable to
the Board for its actions.
The Reserving Sub-Committee reviews the claims statistics which are produced on a monthly basis, and are
responsible for recommending claims reserve levels (including IBNR) internally. The Sub-Committee meets at
least quarterly to compare current reserving levels with the external actuary’s recommended best estimate,
and then informing the Risk, Audit and Compliance Sub-Committee of its results. Following recommendations
from the RAC Sub-Committee, claims reserves are then discussed at Board level and approved accordingly.
HIL BOARD AND SUB-COMMITTEES CHART
Board of Directors
Risk, Audit and Complliance (RAC)
Sub-Committee
Investment Sub-Committee
ReservingSub-Committee
Group and HIL SFCR 2020 P a g e | 15
B.1.3. Group corporate structure
On the 10 July 2018, Solomon Estates Limited (SEL) became the parent company of HMCA Insurance Limited
via a share swap agreement with the shareholder of the Company. The group comprises SEL (as 100% owner
of HIL) and HIL.
B.2. Fit and proper requirements
The Company has in place a Fit and Proper Policy which guides its thinking and practice.
The principles upon which the policy has been designed have been taken from the Gibraltar Financial Services
Commission (“GFSC”) guidance notes and from Solvency II System of Governance guidelines.
B.3. Risk management system
B.3.1. Structure, organisation, strategies and processes
The Company has in place an effective Risk Management System (“RMS”) which consists of:
a. A clearly defined risk management strategy which is consistent with the Company’s overall business strategy. The objectives and key principles of the strategy, the approved risk tolerance limits and the assignment of responsibilities across all the activities of the company are documented;
HIL Organisation Chart
Risk & Compliance
Director
(Derek Meadus)
Executive Director
(Colin Tattersall)
Executive Director
(James Llandro)
Company Secretary
(Andrew Baker)
HR & Admin Assistant
(Monica Monton)
Finance & Compliance
Executive
(Victoria Bridges)
Financial Assistant
(Zineb El Andaloussi)
CEO
(Terry Briggs)
Non-Executive Director
Interim Chair
(Christian Summerfield)
Group and HIL SFCR 2020 P a g e | 16
b. Strategies to identify, measure, monitor, manage and report, on a continuous basis the risks, at an individual and at an aggregated level, to which it is exposed or could be exposed, and their interdependencies;
c. Written policies which effectively ensure the definition and categorisation of the material risks by type to which the Company is exposed, and the approved risk tolerance limits for each type of risk. Such policies implement the Company’s risk strategy, facilitate control mechanisms and take into account the nature, scope and time periods of the business and the associated risks;
d. Processes to support b;
e. A clearly defined procedure on the decision-making process;
f. Reporting procedures and processes which ensure that information on the material risks faced by the Company and the effectiveness of the risk management system are actively monitored and analysed and that appropriate modifications to the system are made where necessary.
The risk-management system is effective and well-integrated into the organisational structure and in the
decision-making processes of the Company with proper consideration of the persons who effectively run the
Company or have other key functions.
B.3.2. The risks
The risk-management system covers the risks included in the calculation of the Solvency Capital Requirement
as well as the risks which are not or not fully included in the calculation thereof.
The risk-management system covers (at least) the following areas:
a. Underwriting and reserving:
i. actions to be taken by the Company to assess and manage the risk of loss or of adverse
change in the values of insurance and reinsurance liabilities, resulting from inadequate
pricing and provisioning assumptions;
ii. the sufficiency and quality of relevant data to be considered in the underwriting and
reserving processes, and their consistency with the standards of sufficiency and quality;
iii. the adequacy of claims management procedures including the extent to which they cover
the overall cycle of claims.
b. Asset-liability management:
i. the structural mismatch between assets and liabilities and in particular the duration
mismatch of those assets and liabilities.
c. Investment risk management:
i. actions to be taken by the Company to ensure that its investments comply with the
prudent person principle;
Group and HIL SFCR 2020 P a g e | 17
ii. actions to be taken by the Company to ensure that its investments take into account the
nature of its business, its approved risk tolerance limits, its solvency position and its long-
term risk exposure;
iii. the Company's own internal assessment of the credit risk of investment counterparties,
including where the counterparties are central governments.
d. Liquidity risk management:
i. actions to be taken by the Company to take into account both short-term and long-term
liquidity risk.
e. Concentration risk management:
i. actions to be taken by the Company to identify relevant sources of concentration risk to
ensure that risk concentrations remain within established limits and actions to analyse
possible risks of contagion between concentrated exposures.
f. Operational risk management:
i. actions to be taken by the Company to assign clear responsibilities to regularly identify,
document and monitor relevant operational risk exposures.
g. Insurance risk mitigation techniques:
i. actions to be taken by the Company to ensure the selection of suitable risk mitigation
techniques;
ii. actions to be taken by the Company to assess which types of risk mitigation techniques
are appropriate according to the nature of the risks assumed and the capabilities of the
Company to manage and control the risks associated with those techniques;
iii. the Company's own assessment of the credit risk of the risk mitigation techniques.
The written policy on risk management (and the individual risk policies) comprise policies relating to points (a)
to (g) above.
As regards investment risk, the company complies with Chapter VI, Section 6 of the SII Directive (Prudent
person principle, etc).
The Company maintains a risk register which has all the risks not included in the above list (Cyber Security,
Regulatory, etc.). These risks are subject to the same evaluation/analysis and the results are recorded in the
Risk Register, including the mitigation actions and the residual risks.
B.3.3. The Risk Management function
The Company has a proportionate risk-management function.
The Company ensures that the persons who effectively run it (the Board) or have other key functions take into
account the information reported as part of the risk management system in their decision making process.
Group and HIL SFCR 2020 P a g e | 18
The Company will consider, where and when appropriate, the performance of stress tests and scenario
analysis with regard to all relevant risks it faces, in their risk-management system (as part of the ORSA process
– see B.4).
The Risk Function is responsible for ensuring that all reporting (internal, external and to the Regulator) is
performed accurately and on a timely basis. In addition, the Risk Function reports directly to the Board on a
regular basis, via the RAC Committee.
The Risk Function is responsible for the production of a Risk Appetite Strategy (with the support of the other
functions) and for ensuring that the Company is operating within the agreed limits/boundaries established in
that document.
The Risk Function is responsible for all Scenario and Stress Testing (“SST”) and Reverse Stress Testing (“RST”),
including considering events such as Brexit.
The Risk Function is the owner of the standard formula (“SF”) model and therefore is responsible for its
integrity. This means it will ensure at any time that the model is properly documented, that it is properly
functioning (i.e. producing results congruent with prevailing legislation) and that it is properly maintained and
backed-up).
B.4. Own risk and solvency assessment (ORSA)
The Company produces as a minimum a yearly ORSA document.
This document is subsequently reviewed by the Risk Function Holder, the RAC committee and then the Board
for final approval. Substantial improvements were made to this document/exercise over the course of the
year, e.g. numerous stress tests/reverse stress tests/scenario analysis were added, together with recovery and
resolution planning and incorporating other guidance from the GFSC or SII guidelines.
The ORSA in relation to the year ended 30 June 2020 will be submitted to the GFSC in December 2020. This
will be HIL’s third group ORSA, following the new parent company structure as of 10 July 2018.
B.5. Internal control system
a) Given the size of the Company, and bearing in mind the proportionality principle, the internal control system
is simple and straightforward in line with the nature, scale and complexity of the business. The finance team
is responsible for ensuring that the Company’s accounting policies are monitored to ensure that these are
aligned to accounting treatments adopted on an ongoing basis. Changes to the accounting policies are
documented and approved by the Board to ensure that these are appropriate with relevant accounting
standards. Through regular and effective communication, management ensures that each staff member is
fully aware of his/her role and responsibilities. There are clear reporting lines which are set out in the
Company’s organisation chart included in this document. Open, constant dialogue and meetings are held
between management and staff to ensure that there is no overlap in each member carrying out his/her duties.
Group and HIL SFCR 2020 P a g e | 19
b) The compliance function holder is an executive director of the company. He is responsible for ensuring that
the Company remains compliant with all applicable law and regulations and all internal policies. This individual
reports to the Risk, Audit and Compliance (RAC) Committee, which in turn reports to the Board, on a regular
basis.
c) The Company’s IT system administrators carry out ongoing services and activities to ensure that its
administrative and financial systems are regularly updated. This, in turn, ensures that the data is of accurate
and reliable quality. Regular workshops are held with the IT team so any data issues are satisfactorily resolved
and required system updates are implemented as quickly and efficiently as possible. In addition, the Company
has an anti-cyber threat strategy which is independently tested for effectiveness.
B.6. Internal audit function
The Company has an internal audit policy together with a 3-year internal audit plan.
The internal audit (IA) function is currently outsourced to an external consultancy firm but the Company has
appointed an internal audit function holder who is an executive director. The outsourced service provider
ensures that this critical function is carried out in an objective, independent and effective manner.
The IA function is run independently and reports to the RAC Committee which reports to the Board.
The Company has currently completed its initial 3 year internal audit cycle.
The 2020 planned audits are:
• Corporate governance
• Underwriting
B.7. Actuarial function
The Company has an Actuarial Function (AF) which is currently outsourced to an external consultancy firm.
The AF holder, however, is a non-executive director of the Company and is responsible for the production and
the signing of the Internal Actuarial Function report, together with review and challenge of externally
calculated technical provisions.
The AF is involved in the four AF areas namely:
▪ Technical provisions;
▪ Reinsurance arrangements;
▪ Underwriting policy; and
▪ The risk management system.
The involvement in each area differs depending whether an opinion is being expressed or deeper contribution
takes place.
Group and HIL SFCR 2020 P a g e | 20
The AF produces an annual AF report covering the 4 key areas.
By outsourcing the actuarial function to an external consultancy firm, the Company ensures that the actuarial
function is objective and free from influence of other functions or the Board.
B.8. Outsourcing
The significant majority of the business underwritten by the Company is distributed through the Company’s
main intermediary, HMCA. The professional relationship between the intermediary and the Company is set
out in the administration agreement between the two companies. The current 90-day notice period for the
termination of the agreement by either party will be extended to 12 months at its next iteration.
The current administration agreement also provides that the intermediary would handle those policies in
force, and so the claims handling for these in-force policies would also be expected to be administered by the
intermediary. Should that not be the case the Company would be entitled to a pro-rata refund of the unearned
proportion of the claims handling cost paid to the intermediary. This refunded acquisition cost would
contribute to the costs the Company will incur in having to find additional resources to handle these claims.
HMCA is owned by the same ultimate shareholder as the Company.
B.9. Any other disclosures
On 23 June 2016 the United Kingdom (“UK”) voted to leave the European Union (“EU”). The Company sells its
products in the UK and Ireland (Republic) and underwrites them through its underwriting business based in
Gibraltar.
Gibraltar is part of the EU by virtue of the UK’s membership and is not a separate member state. At present,
pursuant to the Financial Services and Markets Act 2000 (Gibraltar) Order 2001 (the ‘Gibraltar Order’), the UK
treats Gibraltar-based insurers as European Economic Area (“EEA”) insurers allowing them to underwrite UK
business. This access to the UK market is expected to continue following certain commitments made by senior
UK Government Ministers, the latest position at the date of this report is that Gibraltar’s financial services
entities will be able to access the UK as now until 2020 in a no-deal scenario.
In respect to Ireland, the Company intends to continue to underwrite new business until such time that the
conditions surrounding the UK’s exit from the EU prove otherwise. In a no-deal Brexit scenario the Company
will continue to service existing policyholders but would cease to write new business and renewals.
B.10. Reporting at group level
This group and solo SFCR is the second following new ownership structure from 10 July 2018
Group and HIL SFCR 2020 P a g e | 21
C. Risk profile
C.1. Underwriting risk
Group/SEL
All risks in section C of this report are relevant to SEL’s investment in HIL. SEL monitors its investment on an
ongoing basis. The individual risks are managed from the HIL entity and described and reported below.
HIL
C.1.1. Material exposures for the year ended 30 June 2020
C.1.2. Risk management processes
Given that the business underwritten by the Company has been stable and profitable for numerous years, only
small inflationary changes are made to the rating structure at the start of each underwriting year, mainly to
cover claims inflation.
Since Solvency II came into force on 1 January 2016 the exposure to the risks discussed above is monitored
periodically by running the standard-formula-based capital model provided by an external firm and performing
stress tests.
C.1.3. Risk mitigation
The Company has not entered into any reinsurance outwards contracts.
C.2. Market risk
Group and HIL
Exposure to premium and reserve risk, non-SLT health (non-similar to life techniques):
Gross earned premiums (£) – future 12 months 14,273,378
SII Best Estimate claims provision (£) 2,769,699
Group and HIL SFCR 2020 P a g e | 22
C.2.1. Material exposures for the year ended 30 June 2020
The above amount for land & buildings, on a SII basis, is the market value of both properties (for own use by
HIL and for investment purposes) plus an estimated net realisable value for tangible fixed assets. IT equipment
has been discounted by 25% of net book value, and fixtures and fittings by 50%.
Exposure to currency risk:
The major exposure to currency risk is given by the market value of the net assets held in non-GBP currencies
via the Company’s investments in foreign denominated assets:
C.2.2. Risk management processes
The portfolio of financial investments (£14.1m per the financial statements/UK GAAP basis) is managed by an
external investment manager, JM Finn & Co. However, any material investment decisions are authorised by a
Board member, and the Board also reviews the monthly portfolio valuations provided by the investment
manager firm.
Key members of the Board meet regularly to review the risks discussed above as part of the Company’s RAC
Committee/Investment Committee. In addition, the Board maintains a risk register. The risks recorded in the
register are categorised by category of risk, and then graded based on their likelihood and impact.
The exposure to market risk is also monitored periodically by running the standard-formula-based capital
model provided by an external firm and performing stress tests.
Exposure to equity risk:
Equity investments held (£) 2,180,675
Exposure to property risk:
Land and buildings (£) 414,260
Market value of net assets
Market value of net assets in USD (£) 1,496,734
Market value of net assets in CHF (£) 150,991
Market value of net assets in EUR (£) 84,031
Market value of net assets in DKK (£) 46,997
Total value (£) 1,778,753
Group and HIL SFCR 2020 P a g e | 23
C.2.3. Risk mitigation
No derivatives or other risk mitigation techniques have been used in relation to market risk.
C.3. Credit risk
C.3.1. Material exposures for the year ended 30 June 2020
Group
HIL
In respect of the balance due from the intermediary, the debt arises from premium funds which have been
paid by policyholders over to the intermediary. These credit terms are considered to be standard practice in
the insurance industry in terms of the relationship between an insurer and an intermediary. As a regulated
intermediary, the company does keep premium funds in a separate client money account, which is not mixed
with the company’s own cash funds.
C.3.2. Risk management processes
The ratings of banks used are monitored at Investment Committee meetings on a quarterly basis; similarly
premium debtor receipts are also received monthly and periodically reviewed.
In addition, all exposures to counterparty credit risk are also monitored periodically by running the standard-
formula-based capital model provided by an external firm.
C.3.3. Risk mitigation
No derivatives or other risk mitigation techniques have been used in relation to credit risk.
Exposure to credit risk:
Cash at bank (£) 11,885,235
Debtors – HMCA (£) 1,048,318
Exposure to credit risk:
Cash at bank (£) 11,750,744
Debtors – HMCA (£) 1,048,318
Group and HIL SFCR 2020 P a g e | 24
C.4. Liquidity risk
Group
As a non-trading entity, SEL is not subject to liquidity risk
HIL
The Company’s cash balances (£11.8m) are made up of either current accounts with credit institutions, or
deposits which mature within three months. In addition to this, the Company’s portfolio of financial
investments (£14.1m per the financial statements) is made up of liquid investments in that they are securities
which are readily tradeable, mostly consisting of either large government bonds, or large cap equities.
C.5. Operational risk
C.5.1. Material exposures for the year ended 30 June 2020
Group
As a non-trading entity, SEL is not subject to operational risks.
HIL
▪ Operational: whilst undue reliance on key staff is clearly an operational issue that the Company would
need to deal with, it is unlikely that such a risk would have a financial impact on the Company.
▪ Computer services: The Company has a business continuity plan in place which provides that the
Company can be operational within 24 hours of a major incident which would put the current IT
systems out of use. If an incident took place in Gibraltar which would render the Company’s office un-
operational, the Company would be able to continue operating either through an alternative local site,
or, through the intermediary’s office in the United Kingdom. Therefore, an incident occurring in
Gibraltar is not expected to result in any material loss of either information or business activities.
C.5.2. Risk management processes
The exposures to operational risk discussed above (and other such risks) are monitored periodically via the
Company’s risk register which is regularly reviewed in RAC Committee meetings. The Company also runs the
standard-formula-based capital model provided by an external firm to assess operational risk capital
requirements, as compared to the ORSA capital requirements.
Group and HIL SFCR 2020 P a g e | 25
C.6. Other material risks
Group and HIL
None.
C.7. Any other disclosures
Group and HIL
None.
Group and HIL SFCR 2020 P a g e | 26
B. D. Valuation for solvency purposes
D.1. Assets
Group
Overview of the assets held as at 30 June 2020:
Statutory accounts
Solvency II Major differences
Deferred acquisition costs and other deferred costs
3,091,310 0 Deferred items are not recognised as an asset under SII valuation rules
Intangible assets (IAs) 203,555 0 IAs have strict recognition rules under SII
Property 1,657,385 1,657,039
Listed equities 6,551,263 6,551,263
Government bonds 7,358,279 7,420,079
Other investments 205,230 205,230
Insurance and intermediaries receivables
5,765,785 1,048,318 SII value is calculated net of future premiums
Cash and cash equivalents 11,885,235 11,885,235
Other assets not shown elsewhere
128,280 0 Deferred costs – see DAC above
Total Assets 36,846,322 28,767,164
HIL
Overview of the assets held as at 30 June 2020:
Statutory accounts
Solvency II Major differences
Deferred acquisition costs and other deferred costs
3,091,310 0 Deferred items are not recognised as an asset under SII valuation rules
Intangible assets (IAs) 203,555 0 IAs have strict recognition rules under SII
Property 1,657,385 1,657,039
Listed equities 6,756,493 6,551,263
Government bonds 7,358,279 7,420,079
Other investments 0 205,230
Insurance and intermediaries receivables
5,765,785 1,048,318 SII value is calculated net of future premiums
Trade receivables 0 0
Cash and cash equivalents 11,750,744 11,750,744
Other assets not shown elsewhere
128,280 0 Deferred costs – see DAC above
Total Assets 36,711,831 28,632,673
Group and HIL SFCR 2020 P a g e | 27
D.2. Technical provisions
Group
Overview of the technical provisions as at 30 June 2020:
Statutory accounts
Solvency II Major differences
Technical provisions – health (similar to non-life techniques)
10,198,707 4,162,260 SII value of TPs is calculated on a cash flow basis and incorporate run-off expenses
Best estimate 3,995,996
Risk margin 166,264
HIL
Overview of the technical provisions as at 30 June 2020:
Statutory accounts
Solvency II Major differences
Technical provisions – health (similar to non-life techniques)
10,198,707 4,162,260 SII value of TPs is calculated on a cash flow basis and incorporate run-off expenses
Best estimate 3,995,996
Risk margin 166,264
The assumptions underpinning the calculations and estimates to determine the technical provisions for Solvency II purposes comprise discount rates, lapse rates, loadings for ‘Events Not in Data’ & ‘Bound But Not Incepted’ risks, claims handling costs, overheads/administration/investment expenses in a run-off scenario, future margins and claims development patterns.
D.3. Other liabilities
Group
Statutory accounts
Solvency II Major differences
Insurance and intermediaries payables
2,093,586 138,635 Net of future commissions/discounts
Deferred tax liabilities 36,050 SII requirement
Payables (trade, not insurance)
572,585 124,327 IPT creditor moved to SII TPs
Other liabilities not shown elsewhere
0
Group and HIL SFCR 2020 P a g e | 28
HIL
Overview of liabilities other than technical provisions as at 30 June 2020:
Statutory accounts
Solvency II Major differences
Insurance and intermediaries payables
2,093,585 138,635 Net of future commissions/discounts
Deferred tax liabilities 0 36,050 SII requirement
Payables (trade, not insurance)
481,908 33,649 IPT creditor moved to SII TPs
Other liabilities not shown elsewhere
83,174 83,174
D.4. Any other disclosures
Group
HIL
Balance sheet of the Company as at 30 June 2020 - valuation methods used:
The balance sheet of the Company as part of its financial statements has been prepared in accordance with
applicable law in Gibraltar and Gibraltar Accounting Standards (“Gibraltar Generally Accepted Accounting
Practice”).
In relation to the Solvency II balance sheet, specific valuation rules are defined in Solvency II legislation for
several balance sheet items that differ from the rules and possibilities in Gibraltar Accounting Standards.
Statutory accounts Solvency II
Total assets 36,846,322 28,767,164
Total liabilities (including technical provisions) 12,864,878 4,461,272
Shareholders/Own funds 23,981,444 24,305,892
Statutory accounts Solvency II
Total assets 36,711,831 28,632,673
Total liabilities (including technical provisions) 12,857,374 4,453,768
Excess of assets over liabilities 23,854,457 24,178,905
Shareholders/Own funds 23,854,457 22,159,852
Foreseeable dividends 0 2,019,053
Group and HIL SFCR 2020 P a g e | 29
E. Capital management
E.1. Own Funds
E.1.1. Significant movements in own funds over the year ended 30 June 2020
Group
HIL
E.1.2. Structure, amount and quality
Group
▪ Solvency II – own funds: £24,305,892
▪ £5,000,000 ordinary shares of £1 each, fully paid (tier 1).
▪ Reconciliation reserve: £19,305,892 (tier 1).
HIL
▪ Solvency II – own funds: £22,159,852 (2019 £22,304,647)
▪ £5,000,000 ordinary shares of £1 each, fully paid (tier 1).
▪ Reconciliation reserve: £17,159,852 (2019 £17,304,647) (tier 1).
E.1.3. Capital management processes and interaction with the risk management function
Group
2020 2019
Called up share capital 5,000,000 5,000,000
Reconciliation reserve 19,305,892 18,256,272
Total Own Funds 24,305,892 23,256,272
2020 2019
Called up share capital 5,000,000 5,000,000
Reconciliation reserve 17,159,852 17,304,647
Total Own Funds 22,159,852 22,304,647
Group and HIL SFCR 2020 P a g e | 30
As a non-trading entity, SEL monitors its subsidiary, HIL’s, capital management policy and process.
HIL
A Solvency II capital model provided by an external firm is run periodically to obtain the solvency capital
requirement under the standard formula.
Per the Company’s Capital Management Strategy, HIL should always hold a minimum SCR buffer of 50%
(solvency ratio of 150%), a target SCR buffer of 100% (solvency ratio of 200%), and for scenario/stress tests in
the Company’s ORSA exercise a minimum Economic Capital ratio of 100% for individual stress tests/scenarios.
Here Economic Capital is defined as the shortfall in own funds following a stress test/scenario, plus the SCR
after the event. The Economic Capital ratio is the own funds before the stress event divided by the Economic
Capital for a given stress event/scenario.
E.1.4. Objectives and planning horizon
Group and HIL
The Company expects its current capital surplus over the Solvency II capital requirement to continue to
increase, since no significant changes are foreseen in relation to material lines of business or risk appetite.
Nevertheless, it is the Board’s intention to distribute 50% of any financial year’s profits up to the parent
company. However, dividends are subject to regulatory permission.
The Company applies a 3 year planning horizon in its ORSA process, and as stated above, has an internal SCR
solvency ratio requirement of at least 150%.
E.2. Minimum capital requirement and solvency capital requirement
Group
Quantitative information for the year ended 30 June 2020:
Equity risk 2,180,675
Currency risk 1,778,754
Property risk 414,260
Interest rate risk 285,315
Spread risk 0
Concentration risk 43,355
Diversification benefit (1,225,164)
Market risk 3,477,194
Health premium and reserve risk 2,412,933
Health lapse risk 603,116
Diversification benefit (528,883)
Group and HIL SFCR 2020 P a g e | 31
These results show that the position of the Group is compliant with the Solvency Capital Requirement and the
Minimum Capital Requirement (SCR/MCR solvency ratios of 434% and 1129% respectively).
HIL
Quantitative information for the year ended 30 June 2020:
NLST Health underwriting risk 2,487,166
Health catastrophe risk 294,665
Diversification benefit (205,154)
Health underwriting risk 2,576,677
Counterparty type 1 risk 797,436
Counterparty type 2 risk 157,247
Diversification benefit (33,421)
Counterparty risk 921,261
Diversification benefit (1,763,698)
Basic SCR 5,181,435
Operational risk 415,000
SCR 5,596,436
MCR 2,153,250
Own funds 24,305,892
Surplus over SCR 18,709,456
Equity risk 2,180,675
Currency risk 1,778,753
Property risk 414,260
Interest rate risk 285,389
Spread risk 0
Concentration risk 43,355
Diversification benefit (1,225,223)
Market risk 3,477,209
Health premium and reserve risk 2,412,933
Health lapse risk 603,117
Diversification benefit (528,883)
NLST Health underwriting risk 2,487,166
Health catastrophe risk 294,665
Diversification benefit (205,154)
Health underwriting risk 2,576,677
Counterparty type 1 risk 788,578
Counterparty type 2 risk 157,248
Diversification benefit (33,365)
Counterparty risk 912,461
Diversification benefit (1,789,029)
Group and HIL SFCR 2020 P a g e | 32
These results show that the position of the Company is compliant with the Solvency Capital Requirement and
the Minimum Capital Requirement (SCR/MCR solvency ratios of 396% and 1029% respectively).
E.3. Use of the duration-based equity risk sub-module in the calculation of the Solvency Capital Requirement
Not applicable.
E.4. Differences between the standard formula and any internal model used
Not applicable since no internal model has been used in the calculation of the Solvency Capital Requirement.
E.5. Non-compliance with the Minimum Capital Requirement and with the Solvency Capital Requirement
Not applicable, since the Company has always been compliant with the Solvency Capital Requirement and the
Minimum Capital Requirement.
E.6. Any other disclosures
Not applicable.
Basic SCR 5,177,318
Operational risk 415,001
SCR 5,592,320
MCR 2,153,250
Own funds 22,159,852
Surplus over SCR 16,567,533
Group and HIL SFCR 2020 P a g e | 33
Quantitative reporting templates 2020
Group/SEL
• S.02.01.02
• S.05.01.02
• S.05.02.01
• S.23.01.22
• S.25.01.22
• S.32.01.22
Group and HIL SFCR 2020 P a g e | 34
S.02.01.01.01
Solvency II value
C0010
Goodwill R0010
Deferred acquisition costs R0020
Intangible assets R0030
Deferred tax assets R0040
Pension benefit surplus R0050
Property, plant & equipment held for own use R0060 1,657,039.00
Investments (other than assets held for index-linked and unit-linked contracts) R0070 14,176,572.00
Property (other than for own use) R0080
Holdings in related undertakings, including participations R0090
Equities R0100 6,551,263.00
Equities - listed R0110 6,551,263.00
Equities - unlisted R0120
Bonds R0130 7,420,079.00
Government Bonds R0140 7,420,079.00
Corporate Bonds R0150
Structured notes R0160
Collateralised securities R0170
Collective Investments Undertakings R0180
Derivatives R0190
Deposits other than cash equivalents R0200
Other investments R0210 205,230.00
Assets held for index-linked and unit-linked contracts R0220
Loans and mortgages R0230 0.00
Loans on policies R0240
Loans and mortgages to individuals R0250
Other loans and mortgages R0260
Reinsurance recoverables from: R0270 0.00
Non-life and health similar to non-life R0280 0.00
Non-life excluding health R0290
Health similar to non-life R0300
Life and health similar to life, excluding health and index-linked and unit-linked R0310 0.00
Health similar to life R0320
Life excluding health and index-linked and unit-linked R0330
Life index-linked and unit-linked R0340
Deposits to cedants R0350
Insurance and intermediaries receivables R0360 1,048,318.00
Reinsurance receivables R0370
Receivables (trade, not insurance) R0380 0.00
Own shares (held directly) R0390
Amounts due in respect of own fund items or initial fund called up but not yet paid in R0400
Cash and cash equivalents R0410 11,885,235.00
Any other assets, not elsewhere shown R0420 0.00
Total assets R0500 28,767,164.00
Balance sheet
Assets
Group and HIL SFCR 2020 P a g e | 35
Technical provisions – non-life R0510 4,162,260.00
Technical provisions – non-life (excluding health) R0520 0.00
Technical provisions calculated as a whole R0530
Best Estimate R0540
Risk margin R0550
Technical provisions - health (similar to non-life) R0560 4,162,260.00
Technical provisions calculated as a whole R0570
Best Estimate R0580 3,995,996.00
Risk margin R0590 166,264.00
Technical provisions - life (excluding index-linked and unit-linked) R0600 0.00
Technical provisions - health (similar to life) R0610 0.00
Technical provisions calculated as a whole R0620
Best Estimate R0630
Risk margin R0640
Technical provisions – life (excluding health and index-linked and unit-linked) R0650 0.00
Technical provisions calculated as a whole R0660
Best Estimate R0670
Risk margin R0680
Technical provisions – index-linked and unit-linked R0690 0.00
Technical provisions calculated as a whole R0700
Best Estimate R0710
Risk margin R0720
Other technical provisions R0730
Contingent liabilities R0740
Provisions other than technical provisions R0750
Pension benefit obligations R0760
Deposits from reinsurers R0770
Deferred tax liabilities R0780 36,050.00
Derivatives R0790
Debts owed to credit institutions R0800
Financial liabilities other than debts owed to credit institutions R0810
Insurance & intermediaries payables R0820 138,635.00
Reinsurance payables R0830
Payables (trade, not insurance) R0840 124,327.00
Subordinated liabilities R0850 0.00
Subordinated liabilities not in Basic Own Funds R0860
Subordinated liabilities in Basic Own Funds R0870
Any other liabilities, not elsewhere shown R0880
Total liabilities R0900 4,461,272.00
Excess of assets over liabilities R1000 24,305,892.00
Liabilities
Group and HIL SFCR 2020 P a g e | 36
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Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R0
33
00
.00
Re
insu
rers' sh
are
R0
34
00
.00
Ne
tR
04
00
5,2
85
,39
3.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
5,2
85
,39
3.0
0
Gro
ss - Dire
ct Bu
sine
ssR
04
10
0.0
00
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R0
42
00
.00
Gro
ss - No
n- p
rop
ortio
na
l rein
sura
nce
acce
pte
dR
04
30
0.0
0
Re
insu
rers'sh
are
R0
44
00
.00
Ne
tR
05
00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
0
Expe
nse
s incu
rred
R0
55
06
,51
5,8
65
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
06
,51
5,8
65
.00
Gro
ss - Dire
ct Bu
sine
ssR
06
10
1,7
81
,32
1.0
01
,78
1,3
21
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R
06
20
0.0
0
Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R0
63
00
.00
Re
insu
rers' sh
are
R0
64
00
.00
Ne
tR
07
00
1,7
81
,32
1.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
1,7
81
,32
1.0
0
Gro
ss - Dire
ct Bu
sine
ssR
07
10
56
,97
9.0
05
6,9
79
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R
07
20
0.0
0
Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R0
73
00
.00
Re
insu
rers' sh
are
R0
74
00
.00
Ne
tR
08
00
56
,97
9.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
56
,97
9.0
0
Gro
ss - Dire
ct Bu
sine
ssR
08
10
34
0,4
61
.00
34
0,4
61
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R
08
20
0.0
0
Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R0
83
00
.00
Re
insu
rers' sh
are
R0
84
00
.00
Ne
tR
09
00
34
0,4
61
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
03
40
,46
1.0
0
Gro
ss - Dire
ct Bu
sine
ssR
09
10
3,2
68
,43
0.0
03
,26
8,4
30
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R
09
20
0.0
0
Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R0
93
00
.00
Re
insu
rers' sh
are
R0
94
00
.00
Ne
tR
10
00
3,2
68
,43
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
3,2
68
,43
0.0
0
Gro
ss - Dire
ct Bu
sine
ssR
10
10
1,0
68
,67
4.0
01
,06
8,6
74
.00
Gro
ss - Pro
po
rtion
al re
insu
ran
ce a
ccep
ted
R
10
20
0.0
0
Gro
ss - No
n-p
rop
ortio
na
l rein
sura
nce
acce
pte
d
R1
03
00
.00
Re
insu
rers' sh
are
R1
04
00
.00
Ne
tR
11
00
1,0
68
,67
4.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
1,0
68
,67
4.0
0
Oth
er e
xpe
nse
sR
12
00
Total e
xpe
nse
sR
13
00
6,5
15
,86
5.0
0
No
n-Life
& A
ccep
ted
no
n-p
rop
ortio
nal re
insu
rance
S.05
.01
.01
.01
Line
of B
usin
ess fo
r: no
n-life
insu
rance
and
rein
suran
ce o
bligatio
ns (d
irect b
usin
ess an
d acce
pte
d p
rop
ortio
nal re
insu
rance
)Lin
e o
f bu
sine
ss for: acce
pte
d n
on
-pro
po
rtion
al rein
suran
ceTo
tal
Inve
stme
nt m
anage
me
nt e
xpe
nse
s
Claim
s man
agem
en
t exp
en
ses
Acq
uisitio
n e
xpe
nse
s
Ove
rhe
ad e
xpe
nse
s
Pre
miu
ms w
ritten
Pre
miu
ms e
arne
d
Claim
s incu
rred
Ch
ange
s in o
the
r tech
nical p
rovisio
ns
Ad
min
istrative e
xpe
nse
s
Group and HIL SFCR 2020 P a g e | 37
Non-life obligations for home country
S.05.02.01.01
Country (by amount of gross
premiums written)
Country (by amount of gross
premiums written)
GB IE
C0080 C0090 C0090 C0140
Gross - Direct Business R0110 0.00 13,227,104.00 1,102,419.00 14,329,523.00
Gross - Proportional reinsurance accepted R0120 0.00
Gross - Non-proportional reinsurance accepted R0130 0.00
Reinsurers' share R0140 0.00
Net R0200 0.00 13,227,104.00 1,102,419.00 14,329,523.00
Gross - Direct Business R0210 249.00 12,886,703.00 946,401.00 13,833,353.00
Gross - Proportional reinsurance accepted R0220 0.00
Gross - Non-proportional reinsurance accepted R0230 0.00
Reinsurers' share R0240 0.00
Net R0300 249.00 12,886,703.00 946,401.00 13,833,353.00
Gross - Direct Business R0310 -72.00 5,048,828.00 236,637.00 5,285,393.00
Gross - Proportional reinsurance accepted R0320 0.00
Gross - Non-proportional reinsurance accepted R0330 0.00
Reinsurers' share R0340 0.00
Net R0400 -72.00 5,048,828.00 236,637.00 5,285,393.00
Gross - Direct Business R0410 0.00
Gross - Proportional reinsurance accepted R0420 0.00
Gross - Non-proportional reinsurance accepted R0430 0.00
Reinsurers' share R0440 0.00
Net R0500 0.00 0.00 0.00 0.00
Expenses incurred R0550 0.00 5,811,056.00 704,809.00 6,515,865.00
Other expenses R1200
Total expenses R1300 6,515,865.00
Claims incurred
Changes in other technical provisions
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Group and HIL SFCR 2020 P a g e | 38
Life obligations for home country
S.05.02.01.04
Country (by amount of gross
premiums written)
GB
C0220 C0230 C0280
Gross R1410 0.00
Reinsurers' share R1420 0.00
Net R1500 0.00 0.00 0.00
Gross R1510 0.00
Reinsurers' share R1520 0.00
Net R1600 0.00 0.00 0.00
Gross R1610 0.00
Reinsurers' share R1620 0.00
Net R1700 0.00 0.00 0.00
Gross R1710 0.00
Reinsurers' share R1720 0.00
Net R1800 0.00 0.00 0.00
Expenses incurred R1900 0.00
Other expenses R2500
Total expenses R2600 0.00
Claims incurred
Changes in other technical provisions
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Group and HIL SFCR 2020 P a g e | 39
Total
Tier 1
- un
restricte
d
Tier 1
- restricte
d
Tier 2
Tier 3
C0
01
0C
00
20
C0
03
0C
00
40
C0
05
0
Ord
ina
ry sha
re ca
pita
l (gross o
f ow
n sh
are
s)R
00
10
5,0
00
,00
0.0
05
,00
0,0
00
.00
No
n-a
vaila
ble
calle
d b
ut n
ot p
aid
in o
rdin
ary sh
are
cap
ital a
t grou
p le
vel
R0
02
00
.00
Sha
re p
rem
ium
acco
un
t rela
ted
to o
rdin
ary sh
are
cap
ital
R0
03
00
.00
Initia
l fun
ds, m
em
be
rs' con
tribu
tion
s or th
e e
qu
ivale
nt b
asic o
wn
- fun
d ite
m fo
r mu
tua
l an
d
mu
tua
l-type
un
de
rtakin
gsR
00
40
0.0
0
Sub
ord
ina
ted
mu
tua
l me
mb
er a
ccou
nts
R0
05
00
.00
No
n-a
vaila
ble
sub
ord
ina
ted
mu
tua
l me
mb
er a
ccou
nts a
t grou
p le
vel
R0
06
00
.00
Surp
lus fu
nd
sR
00
70
0.0
0
No
n-a
vaila
ble
surp
lus fu
nd
s at gro
up
leve
lR
00
80
0.0
0
Pre
fere
nce
sha
res
R0
09
00
.00
No
n-a
vaila
ble
pre
fere
nce
sha
res a
t grou
p le
vel
R0
10
00
.00
Sha
re p
rem
ium
acco
un
t rela
ted
to p
refe
ren
ce sh
are
sR
01
10
0.0
0
No
n-a
vaila
ble
sha
re p
rem
ium
acco
un
t rela
ted
to p
refe
ren
ce sh
are
s at gro
up
leve
lR
01
20
0.0
0
Re
con
ciliatio
n re
serve
R0
13
01
9,3
05
,89
2.0
01
9,3
05
,89
2.0
0
Sub
ord
ina
ted
liab
ilities
R0
14
00
.00
No
n-a
vaila
ble
sub
ord
ina
ted
liab
ilities a
t grou
p le
vel
R0
15
00
.00
An
am
ou
nt e
qu
al to
the
valu
e o
f ne
t de
ferre
d ta
x asse
tsR
01
60
0.0
0
The
am
ou
nt e
qu
al to
the
valu
e o
f ne
t de
ferre
d ta
x asse
ts no
t ava
ilab
le a
t the
grou
p le
vel
R0
17
00
.00
Oth
er ite
ms a
pp
rove
d b
y sup
erviso
ry au
tho
rity as b
asic o
wn
fun
ds n
ot sp
ecifie
d a
bo
veR
01
80
0.0
0
No
n a
vaila
ble
ow
n fu
nd
s rela
ted
to o
the
r ow
n fu
nd
s item
s ap
pro
ved
by su
pe
rvisory a
uth
ority
R0
19
00
.00
Min
ority in
tere
sts (if no
t rep
orte
d a
s pa
rt of a
spe
cific ow
n fu
nd
item
)R
02
00
0.0
0
No
n-a
vaila
ble
min
ority in
tere
sts at gro
up
leve
lR
02
10
0.0
0
Ow
n fu
nd
s from
the
fina
ncia
l state
me
nts th
at sh
ou
ld n
ot b
e re
pre
sen
ted
by th
e
reco
ncilia
tion
rese
rve a
nd
do
no
t me
et th
e crite
ria to
be
classifie
d a
s Solve
ncy II o
wn
fun
ds
R0
22
0
De
du
ction
s for p
articip
atio
ns in
oth
er fin
an
cial u
nd
erta
kings, in
clud
ing n
on
-regu
late
d
un
de
rtakin
gs carryin
g ou
t fina
ncia
l activitie
sR
02
30
0.0
0
wh
ere
of d
ed
ucte
d a
ccord
ing to
art 2
28
of th
e D
irective
20
09
/13
8/EC
R0
24
00
.00
De
du
ction
s for p
articip
atio
ns w
he
re th
ere
is no
n-a
vaila
bility o
f info
rma
tion
(Article
22
9)
R0
25
00
.00
De
du
ction
for p
articip
atio
ns in
clud
ed
by u
sing D
&A
wh
en
a co
mb
ina
tion
of m
eth
od
s is use
dR
02
60
0.0
0
Tota
l of n
on
-ava
ilab
le o
wn
fun
d ite
ms
R0
27
00
.00
0.0
00
.00
0.0
00
.00
Total d
ed
uctio
ns
R0
28
00
.00
0.0
00
.00
0.0
00
.00
Total b
asic ow
n fu
nd
s after d
ed
uctio
ns
R0
29
02
4,3
05
,89
2.0
02
4,3
05
,89
2.0
00
.00
0.0
00
.00
Un
pa
id a
nd
un
calle
d o
rdin
ary sh
are
cap
ital ca
llab
le o
n d
em
an
dR
03
00
0.0
0
Un
pa
id a
nd
un
calle
d in
itial fu
nd
s, me
mb
ers' co
ntrib
utio
ns o
r the
eq
uiva
len
t ba
sic ow
n fu
nd
item
for m
utu
al a
nd
mu
tua
l - type
un
de
rtakin
gs, calla
ble
on
de
ma
nd
R0
31
00
.00
Un
pa
id a
nd
un
calle
d p
refe
ren
ce sh
are
s calla
ble
on
de
ma
nd
R0
32
00
.00
A le
gally b
ind
ing co
mm
itme
nt to
sub
scribe
an
d p
ay fo
r sub
ord
ina
ted
liab
ilities o
n d
em
an
dR
03
30
0.0
0
Lette
rs of cre
dit a
nd
gua
ran
tee
s un
de
r Article
96
(2) o
f the
Dire
ctive 2
00
9/1
38
/ECR
03
40
0.0
0
Lette
rs of cre
dit a
nd
gua
ran
tee
s oth
er th
an
un
de
r Article
96
(2) o
f the
Dire
ctive 2
00
9/1
38
/ECR
03
50
0.0
0
Sup
ple
me
nta
ry me
mb
ers ca
lls un
de
r first sub
pa
ragra
ph
of A
rticle 9
6(3
) of th
e D
irective
20
09
/13
8/EC
R0
36
00
.00
Sup
ple
me
nta
ry me
mb
ers ca
lls - oth
er th
an
un
de
r first sub
pa
ragra
ph
of A
rticle 9
6(3
) of th
e
Dire
ctive 2
00
9/1
38
/ECR
03
70
0.0
0
No
n a
vaila
ble
an
cillary o
wn
fun
ds a
t grou
p le
vel
R0
38
00
.00
Oth
er a
ncilla
ry ow
n fu
nd
sR
03
90
0.0
0
Total an
cillary ow
n fu
nd
sR
04
00
0.0
00
.00
0.0
0
OF-B
1 fo
r Gro
up
S.23
.01
.04
Basic o
wn
fun
ds b
efo
re d
ed
uctio
n fo
r particip
ation
s in o
the
r finan
cial secto
r
Ow
n fu
nd
s from
the
finan
cial statem
en
ts that sh
ou
ld n
ot b
e re
pre
sen
ted
by th
e re
con
ciliation
rese
rve an
d d
o n
ot
me
et th
e crite
ria to b
e classifie
d as So
lven
cy II ow
n fu
nd
s
De
du
ction
s
An
cillary ow
n fu
nd
s
Group and HIL SFCR 2020 P a g e | 40
Credit institutions, investment firm
s, financial institutions, alternative investment fund
managers, UCITS m
anagement com
panies - totalR0410
0.00
Institutions for occupational retirement provision
R04200.00
Non regulated entities carrying out financial activitiesR0430
0.00
Total own funds of other financial sectors
R04400.00
0.000.00
0.00
Own funds aggregated w
hen using the D&A and com
bination
of method
R04500.00
Own funds aggregated w
hen using the D&A and com
bination
of method net of IGT
R04600.00
Total available own funds to m
eet the consolidated group
SCR (excluding own funds from
other financial sector and
from the undertakings included via D&
A )
R052024,305,892.00
24,305,892.000.00
0.000.00
Total available own funds to m
eet the minim
um
consolidated group SCRR0530
24,305,892.0024,305,892.00
0.000.00
Total eligible own funds to m
eet the consolidated group SCR (excluding own funds from
other
financial sector and from the undertakings included via D&
A )R0560
24,305,892.0024,305,892.00
0.00
Total eligible own funds to m
eet the minim
um consolidated group SCR
R057024,305,892.00
24,305,892.000.00
Consolidated Group SCRR0590
5,596,436.00
Minim
um consolidated Group SCR
R06102,153,250.00
Ratio of Eligible own funds to the consolidated Group SCR (excluding other financial sectors and
the undertakings included via D&A )
R06304.3431
Ratio of Eligible own funds to M
inimum
Consolidated Group SCRR0650
11.2880
Total eligible own funds to m
eet the group SCR (including own funds from
other financial sector
and from the undertakings included via D&
A )R0660
24,305,892.0024,305,892.00
0.000.00
0.00
SCR for entities included with D&
A method
R0670
Group SCRR0680
5,596,436.00
Ratio of Eligible own funds to group SCR including other financial sectors and the undertakings
included via D&A
R06904.3431
C0060
Excess of assets over liabilitiesR0700
24,305,892.00
Own shares (held directly and indirectly)
R0710
Foreseeable dividends, distributions and chargesR0720
Other basic own fund item
sR0730
5,000,000.00
Adjustment for restricted ow
n fund items in respect of m
atching adjustment portfolios and
ring fenced fundsR0740
Other non available own funds
R0750
Reconciliation reserveR0760
19,305,892.00
Expected profits included in future premium
s (EPIFP) - Life businessR0770
Expected profits included in future premium
s (EPIFP) -
Non-life businessR0780
Total Expected profits included in future premium
s (EPIFP)R0790
0.00
Own funds w
hen using the D&A, exclusively or in com
bination of method 1
Reconciliation reserve
Expected profits
Own funds of other financial sectors
Group and HIL SFCR 2020 P a g e | 41
S.25.01.04
Article 112* Z0010 2
Gross solvency capital
requirementSimplifications
C0110 C0120
Market risk R0010 3,477,194.00
Counterparty default risk R0020 921,262.00
Life underwriting risk R0030 0.00
Health underwriting risk R0040 2,576,677.00
Non-life underwriting risk R0050 0.00
Diversification R0060 -1,793,698.00
Intangible asset risk R0070 0.00
Basic Solvency Capital Requirement R0100 5,181,435.00
Value
C0100
Adjustment due to RFF/MAP nSCR aggregation R0120 0.00
Operational risk R0130 415,001.00
Loss-absorbing capacity of technical provisions R0140 0.00
Loss-absorbing capacity of deferred taxes R0150 0.00
Capital requirement for business operated in accordance with Art. 4 of Directive 2003/41/EC (transitional) R0160 0.00
Solvency capital requirement, excluding capital add-on R0200 5,596,436.00
Capital add-ons already set R0210 0.00
Solvency capital requirement for undertakings under consolidated method R0220 5,596,436.00
Capital requirement for duration-based equity risk sub-module R0400 0.00
Total amount of Notional Solvency Capital Requirements for remaining part R0410 0.00
Total amount of Notional Solvency Capital Requirements for ring fenced funds R0420 0.00
Total amount of Notional Solvency Capital Requirements for matching adjustment portfolios R0430 0.00
Diversification effects due to RFF nSCR aggregation for article 304 R0440 0.00
Method used to calculate the adjustment due to RFF/MAP nSCR aggregation (*) R0450 4
Net future discretionary benefits R0460 0.00
Minimum consolidated group solvency capital requirement R0470 2,153,250.00
Capital requirement for other financial sectors (Non-insurance capital requirements) R0500 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) - Credit institutions, investment firms and
financial institutions, alternative investment funds managers, UCITS management companiesR0510 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) - Institutions for occupational
retirement provisionsR0520 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) - Capital requirement for non-regulated
entities carrying out financial activitiesR0530 0.00
Capital requirement for non-controlled participation requirements R0540 0.00
Capital requirement for residual undertakings R0550 0.00
SCR for undertakings included via D and A R0560 0.00
Solvency capital requirement R0570 5,596,436.00
Solvency Capital Requirement - for groups on Standard Formula
*
1 - Article 112(7) reporting (output: x1)
2 - Regular reporting (output: x0)
Overall SCR
Basic Solvency Capital Requirement
Calculation of Solvency Capital Requirement
Other information on SCR
*
1 - Full recalculation
2 - Simplification at risk sub-module level
3 - Simplification at risk module level
4 - No adjustment
Information on other entities
Group and HIL SFCR 2020 P a g e | 42
S.32.01.04
*Identification code of the undertaking
1 Legal Entity Identifier (LEI)
2 Specific code:
- For EEA insurance and reinsurance undertakings and other EEA regulated undertakings within the group:
identification code used in the local market, attributed by the undertaking's competent supervisory authority
- For non-EEA undertakings and non-regulated undertakings within the group, identification code will be
provided by the group
When allocating an identification code to each non-EEA or non-regulated undertaking, the group shall comply
with the following format in a consistent manner:
Identification code of the parent undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5
digits
*Type of code of the ID of the undertaking
LEI/{Code} SC/LEI/{Code}
SC/{Code} SC/SC/{Code}
*Country
* ISO CODE 3166
Type of undertaking*
1 (Life insurance undertaking)
2 (Non life insurance undertaking)
3 (Reinsurance undertaking)
4 (Composite undertaking)
5 (Insurance holding company as defined in Article 212(1) (f) of Directive 2009/138/EC)
6 (Mixed-activity insurance holding)company as defined in Article 212(1) (g) of Directive 2009/138/EC)
7 (Mixed financial holding company as defined in Article 212 (1)(h) of Directive 2009/138/EC)
8 (Credit institution, investment firm and financial institution)
9 (Institution for occupational retirement provision)
10 (Ancillary services undertaking as defined in Article 1 (53) of Delegated Regulation (EU) 2015/35)
11 (Non-regulated undertaking carrying out financial activities as defined in Article 1 (52) of Delegated
Regulation (EU) 2015/35)
12 (Special purpose vehicle authorized in accordance with Article 211 of Directive 2009/138/EC)
13 (Special purpose vehicle other than special purpose vehicle authorized in accordance with Art. 211 of
Category (mutual/non mutual)*
1 (Mutual)
2 (Non-mutual)
*Accounting standard
1 (IFRS)
2 (Local GAAP)
*% capital share
Reported as a decimal (e.g. 0.1
means 10%).
*% used for the establishment of
consolidated accounts
Reported as a decimal (e.g. 0.1
means 10%).
*% voting rights
Reported as a decimal (e.g. 0.1
means 10%).
* Level of influence
1 (Dominant)
2 (Significant)
*Proportional share used for group
solvency calculation
Reported as a decimal (e.g. 0.1
means 10%).
*Inclusion in the scope of Group
supervision
1 (Included in the scope)
2 (Not included in the scope (art. 214
a))3 (Not included in the scope (art. 214
b))4 (Not included in the scope (art. 214
c))
*Group solvency calculation
1 (Method 1: Full consolidation)
2 (Method 1: Proportional consolidation)
3 (Method 1: Adjusted equity method)
4 (Method 1: Sectoral rules)
5 (Method 2: Solvency II )
6 (Method 2: Other sectoral Rules)
7 (Method 2: Local rules)
8 (Deduction of the participation in relation to article 229 of Directive
2009/138/EC)
9 (No inclusion in the scope of group supervision as defined in Art. 214
Directive 2009/138/EC)
10 (Other method)
Group solvency calculation
Identification code of the undertaking
MANDATORYCountry*
Legal Name of the undertakingType of undertaking*
Legal formCategory (mutual/non mutual)*
Supervisory AuthorityTotal Balance Sheet (for
(re)insurance undertakings)
Total Balance Sheet (for other
regulated undertakings)
Total Balance Sheet (non-
regulated undertakings)
Written premiums net of
reinsurance ceded under IFRS or
local GAAP for (re)insurance
undertakings
Turn over defined as the gross
revenue under IFRS or local
GAAP for other types of
undertakings or insurance
holding companies
Underwriting performanceInvestment performance
Total performanceAccounting standard*
% capital share% used for the establishment of
consolidated accounts% voting rights
Other criteriaLevel of influence*
Proportional share used for
group solvency calculation Yes/No*
Date of decision if art. 214 is
applied
Method used and under method 1, treatment of the
undertaking
C0020C0010
C0040C0050
C0060C0070
C0080C0090
C0100C0110
C0120C0130
C0140C0150
C0160C0170
C0180C0190
C0200C0210
C0220C0230
C0240C0250
C0260
LEI/2138002QELXAAMTKY907GI
HMCA Insurance Limited2
Company limited by shares2
Gibraltar Financial Services Commission28,671,529.00
14,329,523.002
1.00001.0000
1.00001
1.000011
LEI/213800955DRCV6A2W836GI
Solomon Estates Limited5
Company limited by shares2
Gibraltar Financial Services Commission2
11
Undertakings in the scope of the group
Ranking criteria (in the group currency) Criteria of influence
Inclusion in the scope of Group supervision
Group and HIL SFCR 2020 P a g e | 43
Quantitative reporting templates 2020
HIL
• S.02.01.01
• S.05.01.01
• S.05.02.01
• S.17.01.01
• S.19.01.01
• S.23.01.01
• S.25.01.01
• S.28.01.01
Group and HIL SFCR 2020 P a g e | 44
S.02.01.02.01
Solvency II value
C0010
Goodwill R0010
Deferred acquisition costs R0020
Intangible assets R0030
Deferred tax assets R0040 0.00
Pension benefit surplus R0050
Property, plant & equipment held for own use R0060 557,039.00
Investments (other than assets held for index-linked and unit-linked contracts) R0070 15,276,572.00
Property (other than for own use) R0080 1,100,000.00
Holdings in related undertakings, including participations R0090
Equities R0100 6,551,263.00
Equities - listed R0110 6,551,263.00
Equities - unlisted R0120
Bonds R0130 7,420,079.00
Government Bonds R0140 7,420,079.00
Corporate Bonds R0150
Structured notes R0160
Collateralised securities R0170
Collective Investments Undertakings R0180
Derivatives R0190
Deposits other than cash equivalents R0200
Other investments R0210 205,230.00
Assets held for index-linked and unit-linked contracts R0220
Loans and mortgages R0230 0.00
Loans on policies R0240
Loans and mortgages to individuals R0250 0.00
Other loans and mortgages R0260
Reinsurance recoverables from: R0270 0.00
Non-life and health similar to non-life R0280 0.00
Non-life excluding health R0290
Health similar to non-life R0300
Life and health similar to life, excluding health and index-linked and unit-linked R0310 0.00
Health similar to life R0320
Life excluding health and index-linked and unit-linked R0330
Life index-linked and unit-linked R0340
Deposits to cedants R0350
Insurance and intermediaries receivables R0360 1,048,318.00
Reinsurance receivables R0370
Receivables (trade, not insurance) R0380 0.00
Own shares (held directly) R0390
Amounts due in respect of own fund items or initial fund called up but not yet paid in R0400
Cash and cash equivalents R0410 11,750,744.00
Any other assets, not elsewhere shown R0420 0.00
Total assets R0500 28,632,673.00
Assets
Balance sheet
Group and HIL SFCR 2020 P a g e | 45
Technical provisions – non-life R0510 4,162,260.00
Technical provisions – non-life (excluding health) R0520 0.00
Technical provisions calculated as a whole R0530
Best Estimate R0540
Risk margin R0550
Technical provisions - health (similar to non-life) R0560 4,162,260.00
Technical provisions calculated as a whole R0570
Best Estimate R0580 3,995,996.00
Risk margin R0590 166,264.00
Technical provisions - life (excluding index-linked and unit-linked) R0600 0.00
Technical provisions - health (similar to life) R0610 0.00
Technical provisions calculated as a whole R0620
Best Estimate R0630
Risk margin R0640
Technical provisions – life (excluding health and index-linked and unit-linked) R0650 0.00
Technical provisions calculated as a whole R0660
Best Estimate R0670
Risk margin R0680
Technical provisions – index-linked and unit-linked R0690 0.00
Technical provisions calculated as a whole R0700
Best Estimate R0710
Risk margin R0720
Other technical provisions R0730
Contingent liabilities R0740
Provisions other than technical provisions R0750
Pension benefit obligations R0760
Deposits from reinsurers R0770
Deferred tax liabilities R0780 36,050.00
Derivatives R0790
Debts owed to credit institutions R0800
Financial liabilities other than debts owed to credit institutions R0810
Insurance & intermediaries payables R0820 138,635.00
Reinsurance payables R0830
Payables (trade, not insurance) R0840 33,649.00
Subordinated liabilities R0850 0.00
Subordinated liabilities not in Basic Own Funds R0860
Subordinated liabilities in Basic Own Funds R0870
Any other liabilities, not elsewhere shown R0880 83,174.00
Total liabilities R0900 4,453,768.00
Excess of assets over liabilities R1000 24,178,905.00
Liabilities
Group and HIL SFCR 2020 P a g e | 46
Medical expense insurance
Income protection insurance
Workers' com
pensation
insurance
Motor vehicle liability
insuranceO
ther motor insurance
Marine, aviation and transport
insurance
Fire and other damage to
property insuranceG
eneral liability insuranceCredit and suretyship insurance
Legal expenses insuranceA
ssistanceM
iscellaneous financial lossH
ealthCasualty
Marine, aviation, transport
Property
C0010C0020
C0030C0040
C0050C0060
C0070C0080
C0090C0100
C0110C0120
C0130C0140
C0150C0160
C0200
Gross - D
irect BusinessR0110
14,329,523.0014,329,523.00
Gross - Proportional reinsurance accepted
R01200.00
Gross - N
on-proportional reinsurance accepted R0130
0.00
Reinsurers' shareR0140
0.00
Net
R020014,329,523.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.0014,329,523.00
Gross - D
irect BusinessR0210
13,833,353.0013,833,353.00
Gross - Proportional reinsurance accepted
R02200.00
Gross - N
on-proportional reinsurance accepted R0230
0.00
Reinsurers' shareR0240
0.00
Net
R030013,833,353.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.0013,833,353.00
Gross - D
irect BusinessR0310
5,285,393.005,285,393.00
Gross - Proportional reinsurance accepted
R03200.00
Gross - N
on-proportional reinsurance accepted R0330
0.00
Reinsurers' shareR0340
0.00
Net
R04005,285,393.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.005,285,393.00
Gross - D
irect BusinessR0410
0.000.00
Gross - Proportional reinsurance accepted
R04200.00
Gross - N
on- proportional reinsurance acceptedR0430
0.00
Reinsurers'shareR0440
0.00
Net
R05000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
Expenses incurredR0550
6,515,865.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
6,515,865.00
Other expenses
R1200
Total expensesR1300
6,515,865.00
Non-Life &
Accepted non-proportional reinsurance
S.05.01.02.01
Line of Business for: non-life insurance and reinsurance obligations (direct business and accepted proportional reinsurance)Line of business for: accepted non-proportional reinsurance
Total
Premium
s written
Premium
s earned
Claims incurred
Changes in other technical provisions
Group and HIL SFCR 2020 P a g e | 47
Health insurance
Insurance with profit
participation
Index-linked and unit-linked
insuranceO
ther life insurance
Annuities stem
ming from
non-
life insurance contracts and
relating to health insurance
obligations
Annuities stem
ming from
non-
life insurance contracts and
relating to insurance obligations
other than health insurance
obligations
Health reinsurance
Life reinsurance
C0210C0220
C0230C0240
C0250C0260
C0270C0280
C0300
Gross
R14100.00
Reinsurers' shareR1420
0.00
Net
R15000.00
0.000.00
0.000.00
0.000.00
0.000.00
Gross
R15100.00
Reinsurers' shareR1520
0.00
Net
R16000.00
0.000.00
0.000.00
0.000.00
0.000.00
Gross
R16100.00
Reinsurers' shareR1620
0.00
Net
R17000.00
0.000.00
0.000.00
0.000.00
0.000.00
Gross
R17100.00
Reinsurers' shareR1720
0.00
Net
R18000.00
0.000.00
0.000.00
0.000.00
0.000.00
Expenses incurredR1900
0.000.00
0.000.00
0.000.00
0.000.00
0.00
Other expenses
R2500
Total expensesR2600
0.00
Total amount of surrenders
R27000.00
Life
Premium
s written
Premium
s earned
Claims incurred
Changes in other technical provisions
S.05.01.02.02
Line of Business for: life insurance obligationsLife reinsurance obligations
Total
Group and HIL SFCR 2020 P a g e | 48
S.05.02.01.01
$DYNAMIC_C_BEGIN $DYNAMIC_C_END
Country (by amount of gross
premiums written)
Country (by amount of gross
premiums written)
GB IE
C0080 C0090 C0140
Gross - Direct Business R0110 0.00 13,227,104.00 1,102,419.00 14,329,523.00
Gross - Proportional reinsurance accepted R0120 0.00
Gross - Non-proportional reinsurance accepted R0130 0.00
Reinsurers' share R0140 0.00
Net R0200 0.00 13,227,104.00 1,102,419.00 14,329,523.00
Gross - Direct Business R0210 249.00 12,886,703.00 946,401.00 13,833,353.00
Gross - Proportional reinsurance accepted R0220 0.00
Gross - Non-proportional reinsurance accepted R0230 0.00
Reinsurers' share R0240 0.00
Net R0300 249.00 12,886,703.00 946,401.00 13,833,353.00
Gross - Direct Business R0310 -72.00 5,048,828.00 236,637.00 5,285,393.00
Gross - Proportional reinsurance accepted R0320 0.00
Gross - Non-proportional reinsurance accepted R0330 0.00
Reinsurers' share R0340 0.00
Net R0400 -72.00 5,048,828.00 236,637.00 5,285,393.00
Gross - Direct Business R0410 0.00
Gross - Proportional reinsurance accepted R0420 0.00
Gross - Non-proportional reinsurance accepted R0430 0.00
Reinsurers' share R0440 0.00
Net R0500 0.00 0.00 0.00 0.00
Expenses incurred R0550 0.00 5,811,056.00 704,809.00 6,515,865.00
Other expenses R1200
Total expenses R1300 6,515,865.00
Non-life obligations for home country
Claims incurred
Changes in other technical provisions
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Group and HIL SFCR 2020 P a g e | 49
Life obligations for home country
S.05.02.01.04
Country (by amount of gross
premiums written)
SS
C0220 C0230 C0280
Gross R1410 0.00
Reinsurers' share R1420 0.00
Net R1500 0.00 0.00 0.00
Gross R1510 0.00
Reinsurers' share R1520 0.00
Net R1600 0.00 0.00 0.00
Gross R1610 0.00
Reinsurers' share R1620 0.00
Net R1700 0.00 0.00 0.00
Gross R1710 0.00
Reinsurers' share R1720 0.00
Net R1800 0.00 0.00 0.00
Expenses incurred R1900 0.00
Other expenses R2500
Total expenses R2600 0.00
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Claims incurred
Changes in other technical provisions
Group and HIL SFCR 2020 P a g e | 50
Me
dical e
xpe
nse
insu
rance
Inco
me
pro
tectio
n in
suran
ceW
orke
rs' com
pe
nsatio
n
insu
rance
Mo
tor ve
hicle
liability
insu
rance
Oth
er m
oto
r insu
rance
Marin
e, aviatio
n an
d tran
spo
rt
insu
rance
Fire an
d o
the
r dam
age to
pro
pe
rty insu
rance
Ge
ne
ral liability in
suran
ceC
red
it and
sure
tyship
insu
rance
Legal e
xpe
nse
s insu
rance
Assistan
ceM
iscellan
eo
us fin
ancial lo
ssN
on
-pro
po
rtion
al he
alth
rein
suran
ce
No
n-p
rop
ortio
nal casu
alty
rein
suran
ce
No
n-p
rop
ortio
nal m
arine
,
aviation
and
transp
ort
rein
suran
ce
No
n-p
rop
ortio
nal p
rop
erty
rein
suran
ce
C0
02
0C
00
30
C0
04
0C
00
50
C0
06
0C
00
70
C0
08
0C
00
90
C0
10
0C
01
10
C0
12
0C
01
30
C0
14
0C
01
50
C0
16
0C
01
70
C0
18
0
R0
01
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
R0
05
00
.00
0.0
0
0.0
0
0.0
0
R0
06
01
,22
6,2
97
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
01
,22
6,2
97
.00
R0
14
00
.00
R0
15
01
,22
6,2
97
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
01
,22
6,2
97
.00
R0
16
02
,76
9,6
99
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
R0
24
00
.00
R0
25
02
,76
9,6
99
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
02
,76
9,6
99
.00
R0
26
03
,99
5,9
96
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
03
,99
5,9
96
.00
R0
27
03
,99
5,9
96
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
03
,99
5,9
96
.00
R0
28
01
16
,26
4.0
01
16
,26
4.0
0
R0
29
00
.00
R0
30
00
.00
R0
31
00
.00
R0
32
04
,16
2,2
60
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
04
,16
2,2
60
.00
R0
33
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
R0
34
04
,16
2,2
60
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
04
,16
2,2
60
.00
No
n-Life
Tech
nical P
rovisio
ns
S.17
.01
.02
.01
Segm
en
tation
for:
Total N
on
-Life o
bligatio
nD
irect b
usin
ess an
d acce
pte
d p
rop
ortio
nal re
insu
rance
accep
ted
no
n-p
rop
ortio
nal re
insu
rance
:
Tech
nical p
rovisio
ns calcu
lated
as a wh
ole
Tota
l Re
cove
rab
les fro
m re
insu
ran
ce/SP
V a
nd
Finite
Re
afte
r the
ad
justm
en
t for e
xpe
cted
losse
s du
e to
cou
nte
rpa
rty de
fau
lt asso
ciate
d to
TP ca
lcula
ted
as a
wh
ole
Tech
nical p
rovisio
ns calcu
lated
as a sum
of B
E and
RM
Be
st estim
ate
Pre
miu
m p
rovisio
ns
Gro
ss - Tota
l
Tota
l reco
vera
ble
from
rein
sura
nce
/SPV
an
d Fin
ite R
e a
fter th
e a
dju
stme
nt fo
r exp
ecte
d lo
sses d
ue
to co
un
terp
arty d
efa
ult
Ne
t Be
st Estima
te o
f Pre
miu
m P
rovisio
ns
Claim
s pro
vision
s
Gro
ss - Tota
l
Tota
l reco
vera
ble
from
rein
sura
nce
/SPV
an
d Fin
ite R
e a
fter th
e a
dju
stme
nt fo
r exp
ecte
d lo
sses d
ue
to co
un
terp
arty d
efa
ult
Ne
t Be
st Estima
te o
f Cla
ims P
rovisio
ns
Total B
est e
stimate
- gross
Total B
est e
stimate
- ne
t
Risk m
argin
Am
ou
nt o
f the
transitio
nal o
n Te
chn
ical Pro
vision
s
TP a
s a w
ho
le
Tech
nica
l pro
vision
s min
us re
cove
rab
les fro
m re
insu
ran
ce/SP
V a
nd
Finite
Re
- tota
l
Be
st estim
ate
Risk m
argin
Tech
nical p
rovisio
ns - to
tal
Tech
nica
l pro
vision
s - tota
l
Re
cove
rab
le fro
m re
insu
ran
ce co
ntra
ct/SPV
an
d Fin
ite R
e a
fter th
e a
dju
stme
nt fo
r exp
ecte
d lo
sses d
ue
to co
un
terp
arty d
efa
ult - to
tal
Group and HIL SFCR 2020 P a g e | 51
Total
( by c
urren
cy)Un
itGB
P
$DYN
AMIC_
SS190
1010
1C$
Line o
f bus
iness*
Z001
01
Accid
ent y
ear /
Unde
rwrit
ing
year*
Z002
02
Curre
ncy*
Z003
0GB
P*Z
0030
Cur
renc
y
ISO
4217
alph
abeti
c cod
e
Curre
ncy c
onve
rsion
*Z0
040
1*Z
0040
Cur
renc
y con
vers
ion
1 - O
rigina
l cur
renc
y
2 - R
epor
ting c
urre
ncy
01
23
45
67
89
1011
1213
1415
& +
In Cu
rrent
year
Sum
of ye
ars (cu
mulat
ive)
C001
0C0
020
C003
0C0
040
C005
0C0
060
C007
0C0
080
C009
0C0
100
C011
0C0
120
C013
0C0
140
C015
0C0
160
C017
0C0
180
Prior
R010
0Pri
orR0
100
0.00
0.00
N-14
R011
00.0
00.0
00.0
0N-1
4R0
110
0.00
0.00
N-13
R012
083
3,345
.001,9
92,45
0.00
196,7
52.00
N-13
R012
00.0
03,0
22,54
7.00
N-12
R013
084
5,689
.001,9
55,75
5.00
163,3
24.00
N-12
R013
00.0
02,9
64,76
8.00
N-11
R014
093
9,399
.002,2
14,53
0.00
198,5
10.00
N-11
R014
00.0
03,3
52,43
9.00
N-10
R015
093
7,464
.002,3
63,19
0.00
199,7
18.00
N-10
R015
00.0
03,5
00,37
2.00
N-9R0
160
1,237
,290.0
02,4
46,54
0.00
209,0
08.00
N-9R0
160
0.00
3,892
,838.0
0
N-8R0
170
1,053
,254.0
01,9
86,34
9.00
247,7
55.00
N-8R0
170
0.00
3,287
,358.0
0
N-7R0
180
852,6
82.00
2,020
,509.0
015
8,068
.00N-7
R018
00.0
03,0
31,25
9.00
N-6R0
190
988,6
09.00
2,109
,781.0
013
9,437
.00N-6
R019
00.0
03,2
37,82
7.00
N-5R0
200
1,088
,561.0
02,4
85,20
1.00
157,5
20.00
N-5R0
200
0.00
3,731
,282.0
0
N-4R0
210
1,101
,237.0
02,2
59,22
5.00
255,3
57.00
N-4R0
210
0.00
3,615
,819.0
0
N-3R0
220
1,089
,394.0
02,4
34,39
5.00
96,35
0.00
N-3R0
220
0.00
3,620
,139.0
0
N-2R0
230
1,341
,255.0
02,7
63,90
2.00
366,7
78.00
N-2R0
230
366,7
78.00
4,471
,935.0
0
N-1R0
240
1,620
,774.0
03,0
51,17
2.00
N-1R0
240
3,051
,172.0
04,6
71,94
6.00
NR0
250
787,8
12.00
NR0
250
787,8
12.00
787,8
12.00
Total
R026
04,2
05,76
2.00
47,18
8,341
.00
Gross
Claim
s Paid
(non
-cumu
lative
) - Curr
ent y
ear, s
um of
years
(cumu
lative
)
S.19.0
1.01.0
1
*Z00
10 Li
ne o
f Bus
iness
1 - 1 a
nd 13
Med
ical e
xpen
se in
sura
nce
9 - 9
and 2
1 Cre
dit an
d sur
etys
hip in
sura
nce
2 - 2
and 1
4 Inc
ome p
rote
ction
insu
ranc
e
10 - 1
0 and
22 Le
gal e
xpen
ses i
nsur
ance
3 - 3
and 1
5 Wor
kers
' com
pens
atio
n ins
uran
ce
11 - 1
1 and
23 A
ssist
ance
4 - 4
and 1
6 Mot
or ve
hicle
liabil
ity in
sura
nce
12
- 12 a
nd 24
Misc
ellan
eous
finan
cial lo
ss
5 - 5
and 1
7 Oth
er m
otor
insu
ranc
e
25 -
Non
-pro
porti
onal
healt
h rein
sura
nce
6 - 6
and 1
8 Mar
ine, a
viatio
n and
trans
port
insur
ance
26 - N
on-p
ropo
rtion
al ca
sualt
y rein
sura
nce
7-7 a
nd 19
Fire
and o
ther
dam
age t
o pr
oper
ty ins
uran
ce 2
7-No
n-pr
opor
tiona
l mar
ine, a
viatio
n and
trans
port
reins
uran
ce*Z
0020
Acc
ident
year
or U
nder
writin
g yea
r
1 - A
ccide
nt ye
ar
2 - U
nder
writin
g yea
r
Gross
Claim
s Paid
(non
-cumu
lative
) - De
velop
ment
year
(absol
ute am
ount)
Non-l
ife in
suran
ce cla
ims
Group and HIL SFCR 2020 P a g e | 52
01
23
45
67
89
1011
1213
1415 &
+In C
urrent y
earSum
of years
(cumul
ative)
C0600
C0610
C0620
C0630
C0640
C0650
C0660
C0670
C0680
C0690
C0700
C0710
C0720
C0730
C0740
C0750
C0760
C0770
Prior
R0300
Prior
R0300
0.000.00
N-14
R0310
N-14
R0310
0.000.00
N-13
R0320
N-13
R0320
0.000.00
N-12
R0330
N-12
R0330
0.000.00
N-11
R0340
N-11
R0340
0.000.00
N-10
R0350
N-10
R0350
0.000.00
N-9R03
60N-9
R0360
0.000.00
N-8R03
70N-8
R0370
0.000.00
N-7R03
80N-7
R0380
0.000.00
N-6R03
90N-6
R0390
0.000.00
N-5R04
00N-5
R0400
0.000.00
N-4R04
10N-4
R0410
0.000.00
N-3R04
20N-3
R0420
0.000.00
N-2R04
30N-2
R0430
0.000.00
N-1R04
40N-1
R0440
0.000.00
NR04
50N
R0450
0.000.00
Total
R0460
0.000.00
Reinsura
nce Rec
overies
receive
d (non-c
umulativ
e) - Dev
elopmen
t year (a
bsolute
amoun
t)Rein
surance
Recove
ries rec
eived (n
on-cumu
lative) -
Curren
t year, s
um of y
ears (cu
mulativ
e)
Group and HIL SFCR 2020 P a g e | 53
01
23
45
67
89
1011
1213
1415 &
+In C
urrent y
earSum
of year
s (cumu
lative)
C1200
C1210
C1220
C1230
C1240
C1250
C1260
C1270
C1280
C1290
C1300
C1310
C1320
C1330
C1340
C1350
C1360
C1370
Prior
R0500
0.00
Prior
R0500
0.00
0.00
N-14
R0510
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
N-14
R0510
0.00
0.00
N-13
R0520
833,34
5.00
1,992,
450.00
196,75
2.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
N-13
R0520
0.00
3,022,
547.00
N-12
R0530
845,68
9.00
1,955,
755.00
163,32
4.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
N-12
R0530
0.00
2,964,
768.00
N-11
R0540
939,39
9.00
2,214,
530.00
198,51
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
N-11
R0540
0.00
3,352,
439.00
N-10
R0550
937,46
4.00
2,363,
190.00
199,71
8.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
N-10
R0550
0.00
3,500,
372.00
N-9R05
601,2
37,290
.002,4
46,540
.00209
,008.0
00.0
00.0
00.0
00.0
00.0
00.0
00.0
0N-9
R0560
0.00
3,892,
838.00
N-8R05
701,0
53,254
.001,9
86,349
.00247
,755.0
00.0
00.0
00.0
00.0
00.0
00.0
0N-8
R0570
0.00
3,287,
358.00
N-7R05
80852
,682.0
02,0
20,509
.00158
,068.0
00.0
00.0
00.0
00.0
00.0
0N-7
R0580
0.00
3,031,
259.00
N-6R05
90988
,609.0
02,1
09,781
.00139
,437.0
00.0
00.0
00.0
00.0
0N-6
R0590
0.00
3,237,
827.00
N-5R06
001,0
88,561
.002,4
85,201
.00157
,520.0
00.0
00.0
00.0
0N-5
R0600
0.00
3,731,
282.00
N-4R06
101,1
01,237
.002,2
59,225
.00255
,357.0
00.0
00.0
0N-4
R0610
0.00
3,615,
819.00
N-3R06
201,0
89,394
.002,4
34,395
.0096,
350.00
0.00
N-3R06
200.0
03,6
20,139
.00
N-2R06
301,3
41,255
.002,7
63,902
.00366
,778.0
0N-2
R0630
366,77
8.00
4,471,
935.00
N-1R06
401,6
20,774
.003,0
51,172
.00N-1
R0640
3,051,
172.00
4,671,
946.00
NR06
50787
,812.0
0N
R0650
787,81
2.00
787,81
2.00
Total
R0660
4,205,
762.00
47,188
,341.0
0
Net Cla
ims Pai
d (non-
cumulat
ive) - D
evelopm
ent yea
r (abso
lute am
ount)
Net Cla
ims Pai
d (non-
cumulat
ive) - Cu
rrent ye
ar, sum
of year
s (cumu
lative)
Group and HIL SFCR 2020 P a g e | 54
S.23.01.01.01
Total Tier 1 - unrestricted Tier 1 - restricted Tier 2 Tier 3
C0010 C0020 C0030 C0040 C0050
Ordinary share capital (gross of own shares) R0010 5,000,000.00 5,000,000.00
Share premium account related to ordinary share capital R0030 0.00
Initial funds, members' contributions or the equivalent basic
own - fund item for mutual and mutual-type undertakingsR0040 0.00
Subordinated mutual member accounts R0050 0.00
Surplus funds R0070 0.00
Preference shares R0090 0.00
Share premium account related to preference shares R0110 0.00
Reconciliation reserve R0130 17,159,852.00 17,159,852.00
Subordinated liabilities R0140 0.00
An amount equal to the value of net deferred tax assets R0160 0.00
Other own fund items approved by the supervisory authority
as basic own funds not specified aboveR0180 0.00
Own funds from the financial statements that should not be
represented by the reconciliation reserve and do not meet
the criteria to be classified as Solvency II own funds
R0220
Deductions for participations in financial and credit
institutionsR0230 0.00
Total basic own funds after deductions R0290 22,159,852.00 22,159,852.00 0.00 0.00 0.00
Unpaid and uncalled ordinary share capital callable on
demandR0300 0.00
Unpaid and uncalled initial funds, members' contributions
or the equivalent basic own fund item for mutual and mutual
- type undertakings, callable on demand
R0310 0.00
Unpaid and uncalled preference shares callable on demand R0320 0.00
A legally binding commitment to subscribe and pay for
subordinated liabilities on demandR0330 0.00
Letters of credit and guarantees under Article 96(2) of the
Directive 2009/138/ECR0340 0.00
Letters of credit and guarantees other than under Article
96(2) of the Directive 2009/138/ECR0350 0.00
Supplementary members calls under first subparagraph of
Article 96(3) of the Directive 2009/138/ECR0360 0.00
Supplementary members calls - other than under first
subparagraph of Article 96(3) of the Directive 2009/138/ECR0370 0.00
Other ancillary own funds R0390 0.00
Total ancillary own funds R0400 0.00 0.00 0.00
Total available own funds to meet the SCR R0500 22,159,852.00 22,159,852.00 0.00 0.00 0.00
Total available own funds to meet the MCR R0510 22,159,852.00 22,159,852.00 0.00 0.00
Total eligible own funds to meet the SCR R0540 22,159,852.00 22,159,852.00 0.00 0.00 0.00
Total eligible own funds to meet the MCR R0550 22,159,852.00 22,159,852.00 0.00 0.00
SCR R0580 5,592,320.00
MCR R0600 2,153,250.00
Ratio of Eligible own funds to SCR R0620 3.962600000
Ratio of Eligible own funds to MCR R0640 10.291400000
Own funds
Basic own funds before deduction for participations in other financial sector as
foreseen in article 68 of Delegated Regulation 2015/35
Own funds from the financial statements that should not be represented by the
reconciliation reserve and do not meet the criteria to be classified as Solvency II
own funds
Deductions
Ancillary own funds
Available and eligible own funds
Group and HIL SFCR 2020 P a g e | 55
C0060
Excess of assets over liabilities R0700 24,178,905.00
Own shares (held directly and indirectly) R0710
Foreseeable dividends, distributions and charges R0720 2,019,053.00
Other basic own fund items R0730 5,000,000.00
Adjustment for restricted own fund items in respect of
matching adjustment portfolios and ring fenced fundsR0740
Reconciliation reserve R0760 17,159,852.00
Expected profits included in future premiums (EPIFP) - Life
businessR0770
Expected profits included in future premiums (EPIFP) -
Non-life businessR0780
Total Expected profits included in future premiums
(EPIFP)R0790 0.00
Reconciliation reserve
Reconciliation reserve
Expected profits
Group and HIL SFCR 2020 P a g e | 56
S.25.01.21.01
Article 112* Z0010 2*
1 - Article 112(7) reporting (output: x1)
2 - Regular reporting (output: x0)
Gross solvency capital
requirementSimplifications
C0110 C0120
Market risk R0010 3,477,209.00 3,477,209.00
Counterparty default risk R0020 912,461.00 912,461.00
Life underwriting risk R0030 0.00 0.00
Health underwriting risk R0040 2,576,677.00 2,576,677.00
Non-life underwriting risk R0050 0.00 0.00
Diversification R0060 -1,789,029.00 -1,789,029.00
Intangible asset risk R0070 0.00 0.00
Basic Solvency Capital Requirement R0100 5,177,318.00 5,177,318.00
Value
C0100
Operational risk R0130 415,001.00
Loss-absorbing capacity of technical provisions R0140 0.00
Loss-absorbing capacity of deferred taxes R0150 0.00
Capital requirement for business operated in accordance with Art. 4 of Directive 2003/41/EC R0160 0.00
Solvency Capital Requirement excluding capital add-on R0200 5,592,319.00
Capital add-on already set R0210 0.00
Solvency capital requirement R0220 5,592,319.00
5,592,319.00
Capital requirement for duration-based equity risk sub-module R0400 0.00
Total amount of Notional Solvency Capital Requirements for remaining part R0410 0.00
Total amount of Notional Solvency Capital Requirements for ring fenced funds R0420 0.00
Total amount of Notional Solvency Capital Requirements for matching adjustment portfolios R0430 0.00
Diversification effects due to RFF nSCR aggregation for article 304 R0440 0.00
Basic Solvency Capital Requirement
Calculation of Solvency Capital Requirement
Other information on SCR
Solvency Capital Requirement - for undertakings on Standard Formula
Group and HIL SFCR 2020 P a g e | 57
S.28.01.01
C0010
MCRNL Result R0010 861,299.39
Net (of reinsurance/SPV) best
estimate and TP calculated as a
whole
Net (of reinsurance) written
premiums in the last 12 months
C0020 C0030
Medical expense insurance and proportional reinsurance R0020 3,995,996.00 14,329,523.00
Income protection insurance and proportional reinsurance R0030
Workers' compensation insurance and proportional reinsurance R0040
Motor vehicle liability insurance and proportional reinsurance R0050
Other motor insurance and proportional reinsurance R0060
Marine, aviation and transport insurance and proportional reinsurance R0070
Fire and other damage to property insurance and proportional reinsurance R0080
General liability insurance and proportional reinsurance R0090
Credit and suretyship insurance and proportional reinsurance R0100
Legal expenses insurance and proportional reinsurance R0110
Assistance and proportional reinsurance R0120
Miscellaneous financial loss insurance and proportional reinsurance R0130
Non-proportional health reinsurance R0140
Non-proportional casualty reinsurance R0150
Non-proportional marine, aviation and transport reinsurance R0160
Non-proportional property reinsurance R0170
C0040
MCRL Result R0200 0.00
Net (of reinsurance/SPV) best
estimate and TP calculated as a
whole
Net (of reinsurance/SPV) total
capital at risk
C0050 C0060
Obligations with profit participation - guaranteed benefits R0210
Obligations with profit participation - future discretionary benefits R0220
Index-linked and unit-linked insurance obligations R0230
Other life (re)insurance and health (re)insurance obligations R0240
Total capital at risk for all life (re)insurance obligations R0250
C0070
Linear MCR R0300 861,299.39
SCR R0310 5,592,320.00
MCR cap R0320 2,516,544.00
MCR floor R0330 1,398,080.00
Combined MCR R0340 1,398,080.00
Absolute floor of the MCR R0350 2,153,250.00
Minimum Capital Requirement R0400 2,153,250.00
Minimum Capital Requirement - Only life or only non-life insurance or reinsurance activity
Linear formula component for life insurance and reinsurance obligations
Total capital at risk for all life (re)insurance obligations
Overall MCR calculation
Linear formula component for non-life insurance and reinsurance obligationsMCR components
Background information
Background information
Group and HIL SFCR 2020 P a g e | 58
Quantitative reporting templates 2019 comparatives
Group/SEL
• S.02.01.02
• S.05.01.02
• S.05.02.01
• S.23.01.22
• S.25.01.22
• S.32.01.22
Group and HIL SFCR 2020 P a g e | 59
S.02.01.02
Solvency II value
C0010
Goodwill R0010
Deferred acquisition costs R0020
Intangible assets R0030 0.00
Deferred tax assets R0040
Pension benefit surplus R0050
Property, plant & equipment held for own use R0060 1,798,299.00
Investments (other than assets held for index-linked and unit-linked contracts) R0070 14,455,777.00
Property (other than for own use) R0080
Holdings in related undertakings, including participations R0090
Equities R0100 6,740,721.00
Equities - listed R0110 6,740,721.00
Equities - unlisted R0120
Bonds R0130 7,715,056.00
Government Bonds R0140 7,715,056.00
Corporate Bonds R0150
Structured notes R0160
Collateralised securities R0170
Collective Investments Undertakings R0180
Derivatives R0190
Deposits other than cash equivalents R0200
Other investments R0210
Assets held for index-linked and unit-linked contracts R0220
Loans and mortgages R0230 0.00
Loans on policies R0240
Loans and mortgages to individuals R0250
Other loans and mortgages R0260
Reinsurance recoverables from: R0270 0.00
Non-life and health similar to non-life R0280 0.00
Non-life excluding health R0290
Health similar to non-life R0300
Life and health similar to life, excluding health and index-linked and unit-linked R0310 0.00
Health similar to life R0320
Life excluding health and index-linked and unit-linked R0330
Life index-linked and unit-linked R0340
Deposits to cedants R0350
Insurance and intermediaries receivables R0360 1,685,518.00
Reinsurance receivables R0370
Receivables (trade, not insurance) R0380 1.00
Own shares (held directly) R0390
Amounts due in respect of own fund items or initial fund called up but not yet paid in R0400
Cash and cash equivalents R0410 8,820,038.00
Any other assets, not elsewhere shown R0420 0.00
Total assets R0500 26,759,633.00
Assets
Balance sheet
Group and HIL SFCR 2020 P a g e | 60
Technical provisions – non-life R0510 2,799,077.00
Technical provisions – non-life (excluding health) R0520 0.00
Technical provisions calculated as a whole R0530
Best Estimate R0540
Risk margin R0550
Technical provisions - health (similar to non-life) R0560 2,799,077.00
Technical provisions calculated as a whole R0570
Best Estimate R0580 2,683,550.00
Risk margin R0590 115,527.00
Technical provisions - life (excluding index-linked and unit-linked) R0600 0.00
Technical provisions - health (similar to life) R0610 0.00
Technical provisions calculated as a whole R0620
Best Estimate R0630
Risk margin R0640
Technical provisions – life (excluding health and index-linked and unit-linked) R0650 0.00
Technical provisions calculated as a whole R0660
Best Estimate R0670
Risk margin R0680
Technical provisions – index-linked and unit-linked R0690 0.00
Technical provisions calculated as a whole R0700
Best Estimate R0710
Risk margin R0720
Other technical provisions R0730
Contingent liabilities R0740
Provisions other than technical provisions R0750
Pension benefit obligations R0760
Deposits from reinsurers R0770
Deferred tax liabilities R0780 39,140.00
Derivatives R0790
Debts owed to credit institutions R0800
Financial liabilities other than debts owed to credit institutions R0810
Insurance & intermediaries payables R0820 413,464.00
Reinsurance payables R0830
Payables (trade, not insurance) R0840 82,833.00
Subordinated liabilities R0850 0.00
Subordinated liabilities not in Basic Own Funds R0860
Subordinated liabilities in Basic Own Funds R0870
Any other liabilities, not elsewhere shown R0880 168,848.00
Total liabilities R0900 3,503,362.00
Excess of assets over liabilities R1000 23,256,271.00
Liabilities
Group and HIL SFCR 2020 P a g e | 61
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Group and HIL SFCR 2020 P a g e | 62
S.05.02.01.01
Country (by amount
of gross premiums
written)
Country (by amount
of gross premiums
written)
GB IE
C0080 C0090 C0090 C0140
Gross - Direct Business R0110 630.00 12,640,964.00 969,764.00 13,611,358.00
Gross - Proportional reinsurance accepted R0120 0.00
Gross - Non-proportional reinsurance accepted R0130 0.00
Reinsurers' share R0140 0.00
Net R0200 630.00 12,640,964.00 969,764.00 13,611,358.00
Gross - Direct Business R0210 627.00 12,085,255.00 951,911.00 13,037,793.00
Gross - Proportional reinsurance accepted R0220 0.00
Gross - Non-proportional reinsurance accepted R0230 0.00
Reinsurers' share R0240 0.00
Net R0300 627.00 12,085,255.00 951,911.00 13,037,793.00
Gross - Direct Business R0310 119.00 4,269,819.00 213,501.00 4,483,439.00
Gross - Proportional reinsurance accepted R0320 0.00
Gross - Non-proportional reinsurance accepted R0330 0.00
Reinsurers' share R0340 0.00
Net R0400 119.00 4,269,819.00 213,501.00 4,483,439.00
Gross - Direct Business R0410 0.00 0.00 0.00 0.00
Gross - Proportional reinsurance accepted R0420 0.00
Gross - Non-proportional reinsurance accepted R0430 0.00
Reinsurers' share R0440 0.00
Net R0500 0.00 0.00 0.00 0.00
Expenses incurred R0550 -6.00 5,628,387.00 703,679.00 6,332,060.00
Other expenses R1200
Total expenses R1300 6,332,060.00
Claims incurred
Changes in other technical provisions
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Non-life obligations for home country
Group and HIL SFCR 2020 P a g e | 63
Total Tier 1 - unrestricted Tier 1 - restricted Tier 2 Tier 3
C0010 C0020 C0030 C0040 C0050
Ordinary share capital (gross of own shares) R0010 5,000,000.00 5,000,000.00
Non-available called but not paid in ordinary share capital at group level R0020 0.00
Share premium account related to ordinary share capital R0030 0.00
Initial funds, members' contributions or the equivalent basic own - fund item for
mutual and mutual-type undertakingsR0040 0.00
Subordinated mutual member accounts R0050 0.00
Non-available subordinated mutual member accounts at group level R0060 0.00
Surplus funds R0070 0.00
Non-available surplus funds at group level R0080 0.00
Preference shares R0090 0.00
Non-available preference shares at group level R0100 0.00
Share premium account related to preference shares R0110 0.00
Non-available share premium account related to preference shares at group
levelR0120 0.00
Reconciliation reserve R0130 18,256,271.00 18,256,271.00
Subordinated liabilities R0140 0.00
Non-available subordinated liabilities at group level R0150 0.00
An amount equal to the value of net deferred tax assets R0160 0.00
The amount equal to the value of net deferred tax assets not available at the
group levelR0170 0.00
Other items approved by supervisory authority as basic own funds not specified
aboveR0180 0.00
Non available own funds related to other own funds items approved by
supervisory authorityR0190 0.00
Minority interests (if not reported as part of a specific own fund item) R0200 0.00
Non-available minority interests at group level R0210 0.00
Own funds from the financial statements that should not be represented by the
reconciliation reserve and do not meet the criteria to be classified as Solvency II
own funds
R0220
Deductions for participations in other financial undertakings, including non-
regulated undertakings carrying out financial activitiesR0230 0.00
whereof deducted according to art 228 of the Directive 2009/138/EC R0240 0.00
Deductions for participations where there is non-availability of information
(Article 229)R0250 0.00
Deduction for participations included by using D&A when a combination of
methods is usedR0260 0.00
Total of non-available own fund items R0270 0.00 0.00 0.00 0.00 0.00
Total deductions R0280 0.00 0.00 0.00 0.00 0.00
Total basic own funds after deductions R0290 23,256,271.00 23,256,271.00 0.00 0.00 0.00
Unpaid and uncalled ordinary share capital callable on demand R0300 0.00
Unpaid and uncalled initial funds, members' contributions or the equivalent
basic own fund item for mutual and mutual - type undertakings, callable on
demand
R0310 0.00
Unpaid and uncalled preference shares callable on demand R0320 0.00
A legally binding commitment to subscribe and pay for subordinated liabilities
on demandR0330 0.00
Letters of credit and guarantees under Article 96(2) of the Directive 2009/138/EC R0340 0.00
Letters of credit and guarantees other than under Article 96(2) of the Directive
2009/138/ECR0350 0.00
Supplementary members calls under first subparagraph of Article 96(3) of the
Directive 2009/138/ECR0360 0.00
Supplementary members calls - other than under first subparagraph of Article
96(3) of the Directive 2009/138/ECR0370 0.00
Non available ancillary own funds at group level R0380 0.00
Other ancillary own funds R0390 0.00
Total ancillary own funds R0400 0.00 0.00 0.00
OF-B1 for Group
S.23.01.22
Basic own funds before deduction for participations in other financial sector
Own funds from the financial statements that should not be represented by the reconciliation
reserve and do not meet the criteria to be classified as Solvency II own funds
Deductions
Ancillary own funds
Group and HIL SFCR 2020 P a g e | 64
Credit institutions, investment firms, financial institutions, alternative
investment fund managers, UCITS management companies - totalR0410 0.00
Institutions for occupational retirement provision R0420 0.00
Non regulated entities carrying out financial activities R0430 0.00
Total own funds of other financial sectors R0440 0.00 0.00 0.00 0.00
Own funds aggregated when using the D&A and combination of method R0450 0.00
Own funds aggregated when using the D&A and combination of method net of
IGTR0460 0.00
Total available own funds to meet the consolidated group SCR (excluding own
funds from other financial sector and from the undertakings included via D&A )R0520 23,256,271.00 23,256,271.00 0.00 0.00 0.00
Total available own funds to meet the minimum consolidated group SCR R0530 23,256,271.00 23,256,271.00 0.00 0.00
Total eligible own funds to meet the consolidated group SCR (excluding own
funds from other financial sector and from the undertakings included via D&A )R0560 23,256,271.00 23,256,271.00 0.00
Total eligible own funds to meet the minimum consolidated group SCR R0570 23,256,271.00 23,256,271.00 0.00
Minimum consolidated Group SCR R0610 2,221,825.00
Ratio of Eligible own funds to Minimum Consolidated Group SCR R0650 10.4672
Total eligible own funds to meet the group SCR (including own funds from other
financial sector and from the undertakings included via D&A )R0660 23,256,271.00 23,256,271.00 0.00 0.00 0.00
Group SCR R0680 5,608,755.00
Ratio of Eligible own funds to group SCR including other financial sectors and the
undertakings included via D&AR0690 4.1464
C0060
C0060
Excess of assets over liabilities R0700 23,256,271.00
Own shares (held directly and indirectly) R0710
Foreseeable dividends, distributions and charges R0720
Other basic own fund items R0730 5,000,000.00
Adjustment for restricted own fund items in respect of matching adjustment
portfolios and ring fenced fundsR0740
Other non available own funds R0750
Reconciliation reserve R0760 18,256,271.00
Expected profits included in future premiums (EPIFP) - Life business R0770
Expected profits included in future premiums (EPIFP) - Non-life business R0780
Total Expected profits included in future premiums (EPIFP) R0790 0.00
Own funds of other financial sectors
Own funds when using the D&A, exclusively or in combination of method 1
Reconciliation reserve
Expected profits
Group and HIL SFCR 2020 P a g e | 65
S.25.01.22
Gross solvency capital
requirementSimplifications
C0110 C0120
Market risk R0010 3,741,205.00
Counterparty default risk R0020 812,439.00
Life underwriting risk R0030 0.00
Health underwriting risk R0040 2,374,868.00
Non-life underwriting risk R0050 0.00
Diversification R0060 -1,710,891.00
Intangible asset risk R0070 0.00
Basic Solvency Capital Requirement R0100 5,217,621.00
Value
C0100
Operational risk R0130 391,134.00
Loss-absorbing capacity of technical provisions R0140 0.00
Loss-absorbing capacity of deferred taxes R0150 0.00
Capital requirement for business operated in accordance with Art. 4 of Directive
2003/41/EC (transitional)R0160 0.00
Solvency capital requirement, excluding capital add-on R0200 5,608,755.00
Capital add-ons already set R0210 0.00
Solvency capital requirement for undertakings under consolidated method R0220 5,608,755.00
Capital requirement for duration-based equity risk sub-module R0400 0.00
Total amount of Notional Solvency Capital Requirements for remaining part R0410 0.00
Total amount of Notional Solvency Capital Requirements for ring fenced funds R0420 0.00
Total amount of Notional Solvency Capital Requirements for matching adjustment
portfoliosR0430 0.00
Diversification effects due to RFF nSCR aggregation for article 304 R0440 0.00
Minimum consolidated group solvency capital requirement R0470 2,221,825.00
Capital requirement for other financial sectors (Non-insurance capital requirements) R0500 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) -
Credit institutions, investment firms and financial institutions, alternative investment
funds managers, UCITS management companies
R0510 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) -
Institutions for occupational retirement provisionsR0520 0.00
Capital requirement for other financial sectors (Non-insurance capital requirements) -
Capital requirement for non-regulated entities carrying out financial activitiesR0530 0.00
Capital requirement for non-controlled participation requirements R0540 0.00
Capital requirement for residual undertakings R0550 0.00
SCR for undertakings included via D and A R0560 0.00
Solvency capital requirement R0570 5,608,755.00
Solvency Capital Requirement - for groups on Standard Formula
Information on other entities
Overall SCR
Basic Solvency Capital Requirement
Calculation of Solvency Capital Requirement
Other information on SCR
Group and HIL SFCR 2020 P a g e | 66
S.32.01.22
Identification code of the undertaking
MANDATORYCountry* Legal Name of the undertaking Type of undertaking* Legal form
Category
(mutual/non
mutual)*
Supervisory Authority
C0020 C0010 C0040 C0050 C0060 C0070 C0080
LEI/2138002QELXAAMTKY907 GI HMCA Insurance Limited 2 Company limited by shares 2 Gibraltar Financial Services Commission
LEI/213800955DRCV6A2W836 GI SOLOMON ESTATES LIMITED 5 Company limited by shares 2 Gibraltar Financial Services Commission
Undertakings in the scope of the group
S.32.01.22
Group solvency
calculation
Identification code of the undertaking
MANDATORY% capital share
% used for the
establishment of
consolidated
accounts
% voting rights Other criteria Level of influence*
Proportional
share used for
group solvency
calculation
Yes/No*Date of decision if art.
214 is applied
Method used and
under method 1,
treatment of the
undertaking
C0020 C0180 C0190 C0200 C0210 C0220 C0230 C0240 C0250 C0260
LEI/2138002QELXAAMTKY907 100.0000 100.0000 100.0000 1 100.0000 1 1
LEI/213800955DRCV6A2W836 1 1
Undertakings in the scope of the group
Criteria of influenceInclusion in the scope of Group
supervision
Group and HIL SFCR 2020 P a g e | 67
Quantitative reporting templates 2019 comparatives
HIL
• S.02.01.01
• S.05.01.01
• S.05.02.01
• S.17.01.01
• S.19.01.01
• S.23.01.01
• S.25.01.01
• S.28.01.01
Group and HIL SFCR 2020 P a g e | 68
S.02.01.02.01
Solvency II value
C0010
Goodwill R0010
Deferred acquisition costs R0020
Intangible assets R0030
Deferred tax assets R0040
Pension benefit surplus R0050
Property, plant & equipment held for own use R0060 608,299.00
Investments (other than assets held for index-linked and unit-linked contracts) R0070 15,645,777.00
Property (other than for own use) R0080 1,190,000.00
Holdings in related undertakings, including participations R0090
Equities R0100 6,740,721.00
Equities - listed R0110 6,740,721.00
Equities - unlisted R0120
Bonds R0130 7,715,056.00
Government Bonds R0140 7,715,056.00
Corporate Bonds R0150
Structured notes R0160
Collateralised securities R0170
Collective Investments Undertakings R0180
Derivatives R0190
Deposits other than cash equivalents R0200
Other investments R0210
Assets held for index-linked and unit-linked contracts R0220
Loans and mortgages R0230 0.00
Loans on policies R0240
Loans and mortgages to individuals R0250 0.00
Other loans and mortgages R0260
Reinsurance recoverables from: R0270 0.00
Non-life and health similar to non-life R0280 0.00
Non-life excluding health R0290
Health similar to non-life R0300
Life and health similar to life, excluding health and index-linked and unit-linked R0310 0.00
Health similar to life R0320
Life excluding health and index-linked and unit-linked R0330
Life index-linked and unit-linked R0340
Deposits to cedants R0350
Insurance and intermediaries receivables R0360 1,685,518.00
Reinsurance receivables R0370
Receivables (trade, not insurance) R0380 0.00
Own shares (held directly) R0390
Amounts due in respect of own fund items or initial fund called up but not yet paid in R0400
Cash and cash equivalents R0410 7,812,821.00
Any other assets, not elsewhere shown R0420 0.00
Total assets R0500 25,752,415.00
Assets
Balance sheet
Group and HIL SFCR 2020 P a g e | 69
Technical provisions – non-life R0510 2,799,077.00
Technical provisions – non-life (excluding health) R0520 0.00
Technical provisions calculated as a whole R0530
Best Estimate R0540
Risk margin R0550
Technical provisions - health (similar to non-life) R0560 2,799,077.00
Technical provisions calculated as a whole R0570
Best Estimate R0580 2,683,550.00
Risk margin R0590 115,527.00
Technical provisions - life (excluding index-linked and unit-linked) R0600 0.00
Technical provisions - health (similar to life) R0610 0.00
Technical provisions calculated as a whole R0620
Best Estimate R0630
Risk margin R0640
Technical provisions – life (excluding health and index-linked and unit-linked) R0650 0.00
Technical provisions calculated as a whole R0660
Best Estimate R0670
Risk margin R0680
Technical provisions – index-linked and unit-linked R0690 0.00
Technical provisions calculated as a whole R0700
Best Estimate R0710
Risk margin R0720
Other technical provisions R0730
Contingent liabilities R0740
Provisions other than technical provisions R0750
Pension benefit obligations R0760
Deposits from reinsurers R0770
Deferred tax liabilities R0780 39,140.00
Derivatives R0790
Debts owed to credit institutions R0800
Financial liabilities other than debts owed to credit institutions R0810
Insurance & intermediaries payables R0820 413,464.00
Reinsurance payables R0830
Payables (trade, not insurance) R0840 82,833.00
Subordinated liabilities R0850 0.00
Subordinated liabilities not in Basic Own Funds R0860
Subordinated liabilities in Basic Own Funds R0870
Any other liabilities, not elsewhere shown R0880 113,254.00
Total liabilities R0900 3,447,768.00
Excess of assets over liabilities R1000 22,304,647.00
Liabilities
Group and HIL SFCR 2020 P a g e | 70
Me
dic
al
exp
en
se
Inco
me
pro
tect
ion
Wo
rke
rs'
com
pe
nsa
tio
n
Mo
tor
veh
icle
liab
ilit
y
Oth
er
mo
tor
Mar
ine
,
avia
tio
n a
nd
tran
spo
rt
Fire
an
d
oth
er
dam
age
to
pro
pe
rty
Ge
ne
ral
liab
ilit
y
Cre
dit
an
d
sure
tysh
ip
Lega
l
exp
en
ses
Ass
ista
nce
Mis
c
fin
anci
al
loss
He
alth
Cas
ual
ty
Mar
ine
,
avia
tio
n,
tran
spo
rt
Pro
pe
rty
C0
01
0C
00
20
C0
03
0C
00
40
C0
05
0C
00
60
C0
07
0C
00
80
C0
09
0C
01
00
C0
11
0C
01
20
C0
13
0C
01
40
C0
15
0C
01
60
C0
20
0
Gro
ss -
Dir
ect
Bu
sin
ess
R0
11
01
3,6
11
,35
8.0
01
3,6
11
,35
8.0
0
Gro
ss -
Pro
po
rtio
na
l re
insu
ran
ce
acc
ep
ted
R0
12
00
.00
Gro
ss -
No
n-p
rop
ort
ion
al
rein
sura
nce
acc
ep
ted
R
01
30
0.0
0
Re
insu
rers
' sh
are
R0
14
00
.00
Ne
tR
02
00
13
,61
1,3
58
.00
0.0
00
.00
0.0
00
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0.0
00
.00
0.0
00
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00
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0.0
00
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0.0
00
.00
0.0
01
3,6
11
,35
8.0
0
Gro
ss -
Dir
ect
Bu
sin
ess
R0
21
01
3,0
37
,79
3.0
01
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37
,79
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0
Gro
ss -
Pro
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rtio
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ted
R
02
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0.0
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ss -
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ort
ion
al
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nce
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ted
R
02
30
0.0
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Re
insu
rers
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are
R0
24
00
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tR
03
00
13
,03
7,7
93
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
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0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
01
3,0
37
,79
3.0
0
Gro
ss -
Dir
ect
Bu
sin
ess
R0
31
04
,48
3,4
39
.00
4,4
83
,43
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0
Gro
ss -
Pro
po
rtio
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l re
insu
ran
ce
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ted
R
03
20
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Gro
ss -
No
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rop
ort
ion
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rein
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nce
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ep
ted
R
03
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Re
insu
rers
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are
R0
34
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tR
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00
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00
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ss -
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ect
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ess
R0
41
00
.00
0.0
0
Gro
ss -
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po
rtio
na
l re
insu
ran
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ted
R0
42
00
.00
Gro
ss -
No
n- p
rop
ort
ion
al
rein
sura
nce
acc
ep
ted
R0
43
00
.00
Re
insu
rers
'sh
are
R0
44
00
.00
Ne
tR
05
00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
0
Exp
en
ses
incu
rre
dR
05
50
6,3
32
,06
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
6,3
32
,06
0.0
0
Oth
er
exp
en
ses
R1
20
0
Tota
l exp
en
ses
R1
30
06
,33
2,0
60
.00
Tota
l
Pre
miu
ms
wri
tte
n
Pre
miu
ms
ear
ne
d
Cla
ims
incu
rre
d
Ch
ange
s in
oth
er
tech
nic
al p
rovi
sio
ns
S.0
5.0
1.0
2.0
1
Lin
e o
f Bu
sin
ess
for:
no
n-l
ife
insu
ran
ce a
nd
re
insu
ran
ce o
bli
gati
on
s (d
ire
ct b
usi
ne
ss a
nd
acc
ep
ted
pro
po
rtio
nal
re
insu
ran
ce)
Lin
e o
f bu
sin
ess
for:
acc
ep
ted
no
n-p
rop
ort
ion
al
rein
sura
nce
No
n-L
ife
& A
cce
pte
d n
on
-pro
po
rtio
nal
re
insu
ran
ce
Group and HIL SFCR 2020 P a g e | 71
S.05.02.01.01
Country (by amount
of gross premiums
written)
Country (by amount
of gross premiums
written)
GB IE
C0080 C0090 C0140
Gross - Direct Business R0110 630.00 12,640,964.00 969,764.00 13,611,358.00
Gross - Proportional reinsurance accepted R0120 0.00
Gross - Non-proportional reinsurance accepted R0130 0.00
Reinsurers' share R0140 0.00
Net R0200 630.00 12,640,964.00 969,764.00 13,611,358.00
Gross - Direct Business R0210 627.00 12,085,255.00 951,911.00 13,037,793.00
Gross - Proportional reinsurance accepted R0220 0.00
Gross - Non-proportional reinsurance accepted R0230 0.00
Reinsurers' share R0240 0.00
Net R0300 627.00 12,085,255.00 951,911.00 13,037,793.00
Gross - Direct Business R0310 119.00 4,269,819.00 213,501.00 4,483,439.00
Gross - Proportional reinsurance accepted R0320 0.00
Gross - Non-proportional reinsurance accepted R0330 0.00
Reinsurers' share R0340 0.00
Net R0400 119.00 4,269,819.00 213,501.00 4,483,439.00
Gross - Direct Business R0410 0.00 0.00 0.00 0.00
Gross - Proportional reinsurance accepted R0420 0.00
Gross - Non-proportional reinsurance accepted R0430 0.00
Reinsurers' share R0440 0.00
Net R0500 0.00 0.00 0.00 0.00
Expenses incurred R0550 -6.00 5,628,387.00 703,679.00 6,332,060.00
Other expenses R1200
Total expenses R1300 6,332,060.00
Claims incurred
Changes in other technical provisions
Home country
Total for top 5 countries and
home country (by amount of
gross premiums written)
Premiums written
Premiums earned
Non-life obligations for home country
Group and HIL SFCR 2020 P a g e | 72
Me
dic
al
exp
en
se
Inco
me
pro
tect
ion
Wo
rke
rs'
com
pe
nsa
tio
n
Mo
tor
veh
icle
liab
ilit
y
Oth
er
mo
tor
Mar
ine
,
avia
tio
n a
nd
tran
spo
rt
Fire
an
d
oth
er
dam
age
to
pro
pe
rty
Ge
ne
ral
liab
ilit
y
Cre
dit
an
d
sure
tysh
ip
Lega
l
exp
en
ses
Ass
ista
nce
Mis
c
fin
anci
al
loss
C0
02
0C
00
30
C0
04
0C
00
50
C0
06
0C
00
70
C0
08
0C
00
90
C0
10
0C
01
10
C0
12
0C
01
30
R0
01
00
.00
0.0
00
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0.0
00
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0.0
00
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0.0
00
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0.0
00
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0.0
0
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05
0
R0
06
01
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3,1
91
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0.0
00
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0.0
00
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0.0
00
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0.0
00
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0.0
00
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0.0
0
R0
14
0
R0
15
01
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3,1
91
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00
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0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
00
.00
0.0
0
R0
16
01
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59
.00
0.0
00
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0.0
00
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0.0
00
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0.0
00
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00
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24
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R0
25
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0,3
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00
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0.0
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00
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00
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00
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0
R0
26
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50
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0.0
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0.0
00
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00
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00
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00
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Am
ou
nt
of t
he
tra
nsi
tio
nal
on
Te
chn
ical
Pro
visi
on
s
TP a
s a
wh
ole
Tech
nic
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min
us
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ble
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the
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nt
for
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ect
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d
Fin
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nt
for
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ect
ed
loss
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o c
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de
fau
lt
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Est
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te o
f Pre
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m P
rovi
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ns
Cla
ims
pro
visi
on
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Gro
ss -
Tota
l
Tech
nic
al p
rovi
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ns
calc
ula
ted
as
a w
ho
le
Tota
l Re
cove
rab
les
fro
m r
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sura
nce
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V a
nd
Fin
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Re
aft
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ad
just
me
nt
for
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ect
ed
loss
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du
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o
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de
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lt a
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ca
lcu
late
d a
s a
wh
ole
Tech
nic
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rovi
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ula
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as
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m o
f BE
and
RM
Be
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stim
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Pre
miu
m p
rovi
sio
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Segm
en
tati
on
for:
Dir
ect
bu
sin
ess
an
d a
cce
pte
d p
rop
ort
ion
al r
ein
sura
nce
No
n-L
ife
Te
chn
ical
Pro
visi
on
s
S.1
7.0
1.0
2.0
1
Group and HIL SFCR 2020 P a g e | 73
No
n-p
rop
ort
ion
al
he
alth
re
insu
ran
ce
No
n-p
rop
ort
ion
al
casu
alty
re
insu
ran
ce
No
n-p
rop
ort
ion
al m
arin
e,
avia
tio
n a
nd
tra
nsp
ort
rein
sura
nce
No
n-p
rop
ort
ion
al
pro
pe
rty
rein
sura
nce
C0
14
0C
01
50
C0
16
0C
01
70
C0
18
0
R0
01
00
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0.0
00
.00
0.0
00
.00
R0
05
00
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R0
06
00
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0.0
00
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0.0
01
,39
3,1
91
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14
00
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R0
15
00
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0.0
00
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0.0
01
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3,1
91
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R0
16
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0.0
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0.0
01
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0,3
59
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24
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25
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0.0
01
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59
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R0
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02
,68
3,5
50
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50
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01
15
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7.0
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30
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Am
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nt
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nal
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ical
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visi
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s a
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Tech
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in
Tech
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ran
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me
nt
for
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ect
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aft
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lt
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t B
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visi
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stim
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oss
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st e
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aft
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l
Tech
nic
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rovi
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ns
calc
ula
ted
as
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ho
le
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l Re
cove
rab
les
fro
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ein
sura
nce
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nd
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ite
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aft
er
the
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just
me
nt
for
exp
ect
ed
loss
es
du
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o
cou
nte
rpa
rty
de
fau
lt a
sso
cia
ted
to
TP
ca
lcu
late
d a
s a
wh
ole
Tech
nic
al p
rovi
sio
ns
calc
ula
ted
as
a su
m o
f BE
and
RM
Be
st e
stim
ate
Pre
miu
m p
rovi
sio
ns
Segm
en
tati
on
for:
Tota
l No
n-L
ife
ob
liga
tio
n
acce
pte
d n
on
-pro
po
rtio
nal
re
insu
ran
ce:
No
n-L
ife
Te
chn
ical
Pro
visi
on
s
S.1
7.0
1.0
2.0
1
Group and HIL SFCR 2020 P a g e | 74
Acc
ide
nt
yea
r /
Un
de
rwri
tin
g
yea
r
Z00
20
Un
de
rwri
tin
g
yea
r
01
23
45
67
89
10
& +
In C
urr
en
t ye
arSu
m o
f all
ye
ars
(cu
mu
lati
ve)
C0
01
0C
00
20
C0
03
0C
00
40
C0
05
0C
00
60
C0
07
0C
00
80
C0
09
0C
01
00
C0
11
0C
01
70
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Group and HIL SFCR 2020 P a g e | 75
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Group and HIL SFCR 2020 P a g e | 76
S.23.01.01.01
Total Tier 1 - unrestricted Tier 1 - restricted Tier 2 Tier 3
C0010 C0020 C0030 C0040 C0050
Ordinary share capital (gross of own shares) R0010 5,000,000.00 5,000,000.00
Share premium account related to ordinary share capital R0030 0.00
Initial funds, members' contributions or the equivalent basic
own - fund item for mutual and mutual-type undertakingsR0040 0.00
Subordinated mutual member accounts R0050 0.00
Surplus funds R0070 0.00
Preference shares R0090 0.00
Share premium account related to preference shares R0110 0.00
Reconciliation reserve R0130 17,304,647.00 17,304,647.00
Subordinated liabilities R0140 0.00
An amount equal to the value of net deferred tax assets R0160 0.00
Other own fund items approved by the supervisory authority
as basic own funds not specified aboveR0180 0.00
Own funds from the financial statements that should not be
represented by the reconciliation reserve and do not meet
the criteria to be classified as Solvency II own funds
R0220
Deductions for participations in financial and credit
institutionsR0230 0.00
Total basic own funds after deductions R0290 22,304,647.00 22,304,647.00 0.00 0.00 0.00
Unpaid and uncalled ordinary share capital callable on
demandR0300 0.00
Unpaid and uncalled initial funds, members' contributions
or the equivalent basic own fund item for mutual and mutual
- type undertakings, callable on demand
R0310 0.00
Unpaid and uncalled preference shares callable on demand R0320 0.00
A legally binding commitment to subscribe and pay for
subordinated liabilities on demandR0330 0.00
Letters of credit and guarantees under Article 96(2) of the
Directive 2009/138/ECR0340 0.00
Letters of credit and guarantees other than under Article
96(2) of the Directive 2009/138/ECR0350 0.00
Supplementary members calls under first subparagraph of
Article 96(3) of the Directive 2009/138/ECR0360 0.00
Supplementary members calls - other than under first
subparagraph of Article 96(3) of the Directive 2009/138/ECR0370 0.00
Other ancillary own funds R0390 0.00
Total ancillary own funds R0400 0.00 0.00 0.00
Total available own funds to meet the SCR R0500 22,304,647.00 22,304,647.00 0.00 0.00 0.00
Total available own funds to meet the MCR R0510 22,304,647.00 22,304,647.00 0.00 0.00
Total eligible own funds to meet the SCR R0540 22,304,647.00 22,304,647.00 0.00 0.00 0.00
Total eligible own funds to meet the MCR R0550 22,304,647.00 22,304,647.00 0.00 0.00
SCR R0580 5,580,959.00
MCR R0600 2,221,825.00
Ratio of Eligible own funds to SCR R0620 3.996561702
Ratio of Eligible own funds to MCR R0640 10.038885601
C0060
C0060
Excess of assets over liabilities R0700 22,304,647.00
Own shares (held directly and indirectly) R0710
Foreseeable dividends, distributions and charges R0720
Other basic own fund items R0730 5,000,000.00
Adjustment for restricted own fund items in respect of
matching adjustment portfolios and ring fenced fundsR0740
Reconciliation reserve R0760 17,304,647.00
Expected profits included in future premiums (EPIFP) - Life
businessR0770
Expected profits included in future premiums (EPIFP) -
Non-life businessR0780
Total Expected profits included in future premiums
(EPIFP)R0790 0.00
Reconciliation reserve
Reconciliation reserve
Expected profits
Basic own funds before deduction for participations in other financial sector as
foreseen in article 68 of Delegated Regulation 2015/35
Own funds from the financial statements that should not be represented by the
reconciliation reserve and do not meet the criteria to be classified as Solvency II
own funds
Deductions
Ancillary own funds
Available and eligible own funds
Own funds
Group and HIL SFCR 2020 P a g e | 77
S.25.01.21.01
Gross solvency capital
requirementSimplifications
C0110 C0120
Market risk R0010 3,741,260.00
Counterparty default risk R0020 749,717.00
Life underwriting risk R0030 0.00
Health underwriting risk R0040 2,374,868.00
Non-life underwriting risk R0050 0.00
Diversification R0060 -1,676,020.00
Intangible asset risk R0070 0.00
Basic Solvency Capital Requirement R0100 5,189,825.00
Value
C0100
Operational risk R0130 391,134.00
Loss-absorbing capacity of technical provisions R0140 0.00
Loss-absorbing capacity of deferred taxes R0150 0.00
Capital requirement for business operated in accordance with Art. 4 of
Directive 2003/41/ECR0160 0.00
Solvency Capital Requirement excluding capital add-on R0200 5,580,959.00
Capital add-on already set R0210 0.00
Solvency capital requirement R0220 5,580,959.00
Capital requirement for duration-based equity risk sub-module R0400 0.00
Total amount of Notional Solvency Capital Requirements for
remaining partR0410 0.00
Total amount of Notional Solvency Capital Requirements for ring
fenced fundsR0420 0.00
Total amount of Notional Solvency Capital Requirements for matching
adjustment portfoliosR0430 0.00
Diversification effects due to RFF nSCR aggregation for article 304 R0440 0.00
Basic Solvency Capital Requirement
Calculation of Solvency Capital Requirement
Other information on SCR
Solvency Capital Requirement - for undertakings on Standard Formula
Group and HIL SFCR 2020 P a g e | 78
S.28.01.01
C0010
MCRNL Result R0010 765,860.68
Net (of reinsurance/SPV) best
estimate and TP calculated as a
whole
Net (of reinsurance) written
premiums in the last 12 months
C0020 C0030
Medical expense insurance and proportional reinsurance R0020 2,683,550.00 13,611,358.00
Income protection insurance and proportional reinsurance R0030
Workers' compensation insurance and proportional reinsurance R0040
Motor vehicle liability insurance and proportional reinsurance R0050
Other motor insurance and proportional reinsurance R0060
Marine, aviation and transport insurance and proportional reinsurance R0070
Fire and other damage to property insurance and proportional reinsurance R0080
General liability insurance and proportional reinsurance R0090
Credit and suretyship insurance and proportional reinsurance R0100
Legal expenses insurance and proportional reinsurance R0110
Assistance and proportional reinsurance R0120
Miscellaneous financial loss insurance and proportional reinsurance R0130
Non-proportional health reinsurance R0140
Non-proportional casualty reinsurance R0150
Non-proportional marine, aviation and transport reinsurance R0160
Non-proportional property reinsurance R0170
C0040
MCRL Result R0200 0.00
Net (of reinsurance/SPV) best
estimate and TP calculated as a
whole
Net (of reinsurance/SPV) total
capital at risk
C0050 C0060
Obligations with profit participation - guaranteed benefits R0210
Obligations with profit participation - future discretionary benefits R0220
Index-linked and unit-linked insurance obligations R0230
Other life (re)insurance and health (re)insurance obligations R0240
Total capital at risk for all life (re)insurance obligations R0250
C0070
Linear MCR R0300 765,860.68
SCR R0310 5,580,959.00
MCR cap R0320 2,511,431.55
MCR floor R0330 1,395,239.75
Combined MCR R0340 1,395,239.75
Absolute floor of the MCR R0350 2,221,825.00
Minimum Capital Requirement R0400 2,221,825.00
Linear formula component for life insurance and reinsurance obligations
Total capital at risk for all life (re)insurance obligations
Overall MCR calculation
Linear formula component for non-life insurance and reinsurance obligationsMCR components
Background information
Background information
Minimum Capital Requirement - Only life or only non-life insurance or reinsurance activity