Review of the report on the Financial and Solvency Situation

Law 20/2015, of 14 July, on the management, supervision and solvency of the insurance and reinsuring entities, has transposed to our legal system those provisions of Directive 2009/138/EC, of the European Parliament and of the Council, of 25 of November 2009, on the access to the insurance and reinsurance activity and its exercise (known as Directive Solvency II), which required a development by standard with the rank of law. In particular, articles 80 to 82 and 144, establish the obligation of the insurance and reinsuring entities, to publish on an annual basis, a report on their financial and solvency situation (Solvency and Financial Condition reporting, SFCR), with the aim of providing consistent, comparable and high-quality information to all stakeholders in their financial and solvency situation.

In order to ensure the quality and reliability of disclosed information publicly and to improve the degree of confidence of stakeholders in the accuracy of such information, an independent external review of such information should be carried out, as provided for by the Real Decree 1060/2015, of 20 November, of management, supervision and solvency of the insurance and reinsuring entities (articles 91.2 and 181.3). This review report should be drawn up with the intervention of an actuary and an auditor.

Meco Actuaries, offer the service of its actuaries that meet the professional requirements of training and experience to carry out the actuarial work of the aforementioned review, collaborating with the auditors to jointly issue the Review report.