The European Commission has published a corrigendum to Delegated Regulation (EU) 2016/467, correcting linguistic and technical errors in the Slovenian language version of the act concerning the calculation of the Solvency Capital Requirement (SCR) for certain asset categories held by insurance and reinsurance undertakings. The corrigendum, issued on 8 July 2026, clarifies the application of transitional measures for equity securities held indirectly through collective investment undertakings or fund-like structures.
The corrections address two main provisions. First, recital 22 is amended to specify that the transitional measure under Article 308b(13) of Directive 2009/138/EC applies to the proportion of equity securities held in collective investment undertakings or fund investments, based on the target allocation of underlying assets as of 1 January 2016, provided that target allocation is available to the undertaking. Second, Article 1, point 9, which replaces Article 173 of Delegated Regulation (EU) 2015/35, is corrected to align its wording with the recital, ensuring that the transitional measure uses the target allocation of underlying assets and that the target allocation must be available to the undertaking, not just any 'assets used as a basis' or 'company'.
The corrigendum also ensures that undertakings can assess the proportion of equity securities purchased by the fund manager before 1 January 2016 when tracing such purchases is impossible due to disclosure rules or disproportionate costs. This provides legal certainty for insurance and reinsurance undertakings applying the transitional measure, reducing compliance risks and administrative burdens. The corrections may affect the calculation of SCR for affected undertakings, potentially lowering capital charges for certain equity holdings held indirectly through funds.
By ensuring consistency between the Slovenian language version and the original EU legal text, the corrigendum prevents misinterpretation or divergent application across Member States. The document is a formal correction to the Official Journal of the European Union and does not introduce new policy but rectifies errors in the existing delegated regulation.