The legal framework governing the reporting requirements of insurance companies/branches/financial auditors for the purposes of prudential supervision:
Reports shall be submitted to the A.S.F. both electronically and on paper, as appropriate.
Paper reports shall be submitted directly to the A.S.F. Registrar's Office or scanned to the A.S.F. e-mail address: eregistratura@asfromania.ro.
The ASF-EWS and e-HUB applications are used for electronic reporting. Information on registration in the applications can be found in section 1.3 Electronic reporting.
The main periodic reports submitted by insurance/reinsurance companies/branches/financial auditors managed for the purpose of prudential supervision of financial indicators:
NR. CRT. |
TYPE OF REPORTING |
REPORTING DEADLINE |
RECEPTION CHANNEL |
LEGAL FRAMEWORK |
I. ENTITY TYPE - Individual insurance - reinsurance companies referred to in Part I of Law No 237/2015 |
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I.1 PERIODICITY - YEARLY |
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I.1.1 |
Solvency II annual quantitative models |
Max. 14 weeks after the end of the financial year
|
e-hub |
Norma A.S.F. nr. 21/2016 + RD (UE) 2015/35 -art. 300-304 și art. 312 |
I.1.2 |
Audit report of the Solvency II annual templates |
e-hub + suport hârtie |
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I.1.3 |
Solvency and Financial Condition Report (SFCR) |
e-hub |
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I.1.4 |
Regular Surveillance Report (RSR)* * at least every 3 years |
e-hub |
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I.1.5 |
ORSA Report** ** annually and whenever the risk profile changes significantly |
2 weeks after completion of the company evaluation |
e-hub |
RD (UE) 2015/35 |
I.1.6 |
Annual supplementary reports Annual financial statements |
120 days after the end of the financial year |
EWS – parțial + suport hârtie +CD |
Norma A.S.F. nr. 21/2016 +Norma A.S.F. nr. 9/2020 |
I.1.7 |
Annual supplementary reports - Questionnaire on gross benefits paid by categories of health services and health care providers (Annex No 23); - reporting on employees and persons with a mandate (Annex No 24). |
|
EWS |
Norma A.S.F. nr. 21/2016 |
I.1.8 |
Supplementary half-yearly reports - Accounting reports for the first half of the financial year |
16 August of the reporting year |
EWS – parțial + suport hârtie + CD |
Norma A.S.F. nr. 34/2020 + Norma A.S.F. nr. 21/2016 |
I.1.9 |
Action plan on the recommendations in the statutory auditor's management letter |
Max. 30 days after the financial auditor or audit firm issues the recommendations contained in the letter to management |
suport hârtie |
Norma A.S.F. nr. 13/2019 – art.27 |
I.1.10 |
Audit Committee Annual Report |
max. 6 months after the end of the financial year |
suport hârtie |
Norma A.S.F. nr. 13/2019 – art.35 |
I.1.11 |
Annual report on internal operational risk assessment
|
31 March this year. |
suport hârtie |
Norma A.S.F. nr. 4/2018 |
I.1.12 |
IT audit report drawn up for the period audited for the IT audit accompanied by a copy of the IT auditor's certificate signed for conformity with the original valid at the time of drawing up the audit report; + where appropriate the action plan showing how to remedy the deficiencies/vulnerabilities identified by the IT auditor. |
2 years -30 June this year after the last year of the period audited
|
Suport hârtie |
Norma A.S.F. nr. 4/2018 |
I.1.13 |
Annual electronic reporting with the indicators mentioned in Annex 4, if these indicators are applicable and relate to important IT systems |
31 March |
EWS |
Norma A.S.F. nr. 4/2018 |
I.2 PERIODICITY - HALF-YEARLY |
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I.2.1 |
Supplementary half-yearly reports: - the technical result determined for each class of general insurance (Annex 3) - natural catastrophe cover for general insurance (Annex 4) - reporting on intra-group transactions as set out in Annex 41 |
45 days from the reference date |
EWS |
Norma A.S.F nr. 21/2016 |
I.3 PERIODICITY - Quarterly |
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I.3.1 |
Solvency II quarterly quantitative models |
Max. cinci săptămâni de la încheierea fiecărui trimestru. |
e-hub |
Norma A.S.F nr. 21/2016 + RD (UE) 2015/35 |
I.3.2 |
Supplementary quarterly reports: - Transactions relating to general insurance business (Annex 5) - transactions concerning life insurance business (Annex 6) - transactions concerning life insurance business with an exclusive protection component (all-cause death insurance): (Annex 61) - liabilities for general insurance business (Annex 7); - liabilities for life insurance business (Annex 8); - liabilities for life insurance business with an exclusive protection component (all-cause death insurance); (Annex No 81) - breakdown of gross premiums written, net of cancellations, by county for non-life and life insurance business (Annex 9); - breakdown of gross claims paid by county for non-life and life insurance (Annex 10); - the ownership structure of the insurer (Annex 12); - the situation of the business carried out in the territory of other States by companies authorised under Law No 237/2015 (Annex No 13); - statement of gross premiums written for general and life insurance business by category of policyholders, i.e. natural and legal persons (Annex No 14); - the situation and indicators for agricultural insurance business (Annex No 15); - the situation and indicators relating to optional dwelling insurance business (Annex 16); - loans granted by credit institutions and non-bank financial institutions and insured by insurance and/or reinsurance enterprises (Annex No 17); - special asset registers covering the gross technical provisions established for general and life insurance in accordance with the provisions of Rule No 38/2015; - reporting of reinsurance cessions for general and life insurance business (in the form set out in Annex 171) - reporting of reinsurance receipts for general and life insurance business (Annex 172) |
-the last calendar day of the month following the end of the reporting quarter |
EWS |
Norma A.S.F nr. 21/2016 |
I.3.3 |
Reports on MTPL activity (Annexes 1-4) |
the last calendar day of the month following the month for which the report is made |
EWS + suport hârtie |
Norma nr. 20/2017 |
I.4 PERIODICITY - Monthly |
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I.4.1 |
Supplementary liquidity reporting (Annexes 21 and 22);
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-the last calendar day of the month following the month for which the report is made |
EWS + suport hârtie |
Norma A.S.F nr. 21/2016 |
I.4.2 |
Monthly supplementary reports: - statement of changes in own capital for general insurance business, life assurance business and voluntary pension fund management business, (Annex No 20); - the state of litigation pending before the courts, (Annex No 21) |
EWS |
Norma A.S.F nr. 21/2016 |
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II. ENTITY TYPE - branches established in Romania by companies authorised in other Member States. |
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II.1 PERIODICITY - YEARLY |
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II.1.1 |
Annual supplementary reports Simplified annual financial statements |
120 days after the end of the financial year
|
EWS - partial + paper |
Norma A.S.F. nr. 21/2016 + Norma A.S.F. nr. 9/2020 |
II.1.2 |
Supplementary branch reporting: reporting on the state of branch activity (Annex 22) |
EWS |
Norma A.S.F. nr. 21/2016 |
|
II.1.3 |
Supplementary half-yearly reports - Accounting reports as at 30.06 |
16 August of the reporting year |
EWS - partial + paper |
Norma A.S.F. nr. 34/2020 + Norma A.S.F. nr. 21/2016 |
III. Obligations of auditors of insurance undertakings |
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III.1 PERIODICITY - YEARLY |
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III.1.1 |
Additional report to the audit committee of the audited entity |
30 June of the year following the year for which the statutory audit was carried out |
Paper support |
Norma A.S.F. nr. 13/2019 – art. 25 |
III.1.2 |
Letter to the management of the audited entity, referred to as a management letter. |
not later than six months after the end of the financial year |
Paper support |
Norma A.S.F nr. 13/2019 – art. 27 |
IV. TYPE OF ENTITY - Insurance - reinsurance companies referred to in Part II of Law 237/2015 |
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VI.1 PERIODICITY - ANUALY |
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VI.1.1 |
Annual financial statements |
120 days after the end of the financial year |
EWS - partial + paper |
Norma A.S.F. nr. 9/2020 + Norma A.S.F. nr. 28/2015 |
VI.1.2 |
Accounting reports at 30.06 |
16 August of the reporting year |
EWS – parțial + suport hârtie |
Norma A.S.F. nr. 34/2020 + Norma A.S.F. nr. 28/2015 |
VI.1.3 |
Budgetary revenue and expenditure* *its amendments shall be sent to the A.S.F. within 10 calendar days from the date of its approval
|
each year within 10 calendar days from the date of its approval, |
EWS + paper suport |
Art. 7 alin. (3) lit. c) -Norma A.S.F. nr. 28/2015 |
VI.1.4 |
Business plan drawn up in accordance with the rules on the authorisation and monitoring of the operation of insurance and/or reinsurance companies (to be updated annually and submitted to the A.S.F.. |
by 31 October of the year preceding the reference period |
Paper suport |
Art. 7 alin. (7) -Norma A.S.F. nr. 28/2015 |
VI.1.5 |
Annual quantitative periodic reports: - calculation of the available solvency margin, the minimum solvency margin and the safety fund relating to life and non-life insurance business (Annex 3 and Annex 4 respectively); - income from financial investments of assets eligible for the gross technical provisions for life and non-life insurance business (Annex 6) - the number of employees and authorised agents (Annex 7); - the technical result determined for each class of general insurance (Annex 8); - the situation of claims paid and claims reserves endorsed for each class of general insurance according to the year in which the insured event occurred, (Annex No 9); - the development and structure of the share capital (Annex 10); - intra-group transactions (Annex 11). |
the last working day of March of the year following the end of the financial year |
EWS + Paper suport |
Art. 43 Norma A.S.F. nr. 28/2015 |
VI.1.6 |
Documents relating to title deeds/valuations of land/buildings reported as eligible assets to cover technical reserves |
see Art. 24 para. (5) - (7) of A.S.F. Rule no. 28/2015 |
Paper support |
Art. 24 - Norma A.S.F. nr. 28/2015 |
VI.1.7 |
Annual Public Report (Annex 40) |
90 calendar days from the date of submission of the annual financial statements to the A.S.F. |
in a national daily newspaper and on the insurers' website |
Art. 42 Norma A.S.F. nr. 28/2015 |
VI.1.8 |
Report on the internal control system |
60 calendar days after the end of the financial year |
Paper support |
Art. 44 Norma A.S.F. nr. 28/2015 |
VI.1.9 |
Report on the risk management function |
60 calendar days after the end of the financial year |
Paper support |
Art. 45 Norma A.S.F. nr. 28/2015 |
VI.1.10 |
Report on the internal audit function |
60 calendar days after the end of the financial year |
Paper support |
Art. 46 Norma A.S.F. nr. 28/2015 |
VI.1.11 |
Report on the reinsurance programme |
30 calendar days after the end of the financial year |
Paper support |
Art. 47 Norma A.S.F. nr. 28/2015 |
VI.1.12 |
Report on the actuarial function |
30 calendar days after the end of the financial year |
Paper support |
Art. 48 Norma A.S.F. nr. 28/2015 |
IV.2 PERIODICITY - HALF-YEARLY |
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IV.2.1 |
Half-yearly quantitative reports: - calculation of the available solvency margin, the minimum solvency margin and the safety fund relating to life and non-life insurance business (Annex 3 and Annex 4 respectively); - the development and structure of the share capital (Appendix 10); - intra-group transactions (Appendix 11). |
45 days from the reporting reference date |
EWS |
Art. 43 Norma A.S.F. nr. 28/2015 |
IV.3 PERIODICITY - Quarterly |
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IV.3.1 |
Quarterly quantitative reports: - intra-group transactions (Annex 11); - transactions relating to general insurance business (Annex 12); - transactions concerning life insurance business (Annex No 13); - liabilities for general insurance business (Annex 14); - liabilities for life insurance business (Annex No 15); - assets accepted and explanations of the coverage of gross technical provisions for general insurance business (Annex 16); - acceptable assets and explanations regarding the coverage of gross technical provisions for life insurance business (Appendix 17); - the special registers of assets accepted to cover the gross technical provisions established for general and life insurance business, in accordance with the provisions of Rule No 38/2015; - statement of gross premiums written for general and life insurance business by category of policyholders, i.e. natural and legal persons (Annex No 18); - indicators on agricultural insurance business (Annex No 19); - financial assets held by companies (Annex 20); - reinsurance acceptances for general and life insurance business (Annex No 21); - reinsurance cessions for general and life insurance business (Annex 22); - natural catastrophe cover for general insurance business (Annex No 23); - breakdown of gross premiums written by county for life and non-life insurance business (Annex 24); - the situation and indicators for voluntary home insurance business (Annex 25); - breakdown of gross claims paid by county for non-life and life insurance business (Annex 26); - investments (Annex 27); - statement of balance sheet assets and liabilities held by the insurer (Annex 28); - the shareholding structure of the insurer (Annex 29); - statement of gross intermediary gross written premiums (Annex 30). |
the last calendar day of the month following the end of the reporting quarter |
EWS |
Art. 43 Norma A.S.F. nr. 28/2015 |
IV.3.2 |
Documents relating to title deeds/valuations of land/buildings reported as eligible assets to cover technical reserves |
see Art. 24 para. (5) - (7) of A.S.F. Rule no. 28/2015 |
Paper suport |
Art. 24 - Norma A.S.F. nr. 28/2015 |
IV.4 PERIODICITY - MONTHLY |
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IV.4.1 |
Monthly quantitative reporting - determination of the liquidity ratio for general insurance business (Annex No 31); - determination of the liquidity ratio for life insurance business (Annex No 32); - statement of changes in own capital for general insurance business, life insurance business and voluntary pension fund management business (Annex No 33); - surrenders for life insurance business (Annex No 34); - the transfer of the contribution to the Guarantee Fund is carried out in accordance with the Law No 213/2015 on the Guarantee Fund and the rules issued in application thereof (Annex No 35); - government securities (Annex No 37); - the state of disputes pending before the courts (Annex No 38). |
the last calendar day of the month following the month for which the report is made |
EWS |
Norma A.S.F. nr. 28/2015 |
* pentru cerințele de raportare legate de supravegherea conduitei a se vedea secțiunea 3.Monitorizare conduită