The European Commission published a corrigendum on 7 July 2026 to Delegated Regulation (EU) 2015/35 (Solvency II), correcting a wording error in Article 260(4) that affects insurers and reinsurers. The corrigendum replaces the phrase "compensarea politicilor de pierderi cu politici de profit" with "compensarea polițelor care generează pierderi cu polițe care generează profit" in the Romanian language version of the regulation. The correction clarifies that offsetting loss-making policies against profit-making policies is only permitted within a homogeneous risk group.
The corrigendum, issued under reference C(2026)4910, addresses a translation error in the original delegated regulation adopted on 10 October 2014 and published in the Official Journal on 17 January 2015. The error could have led to misinterpretation of the rule on offsetting loss and profit policies, potentially affecting how insurers and reinsurers calculate technical provisions and capital requirements under the Solvency II framework.
The correction ensures that the Romanian text aligns with the original intent of the regulation, which restricts the offsetting of loss-making policies with profit-making policies to within the same homogeneous risk group. This prevents insurers from using profits from one risk group to offset losses from another, thereby maintaining the risk sensitivity of capital requirements.
Stakeholders affected include insurers and reinsurers operating in Romania, who must ensure compliance with the corrected wording. National supervisory authorities will also need to update their guidance to reflect the accurate rule. The corrigendum does not change the substance of the regulation but corrects a linguistic error, so no additional compliance burden is expected beyond ensuring internal processes align with the corrected text.
The corrigendum entered into force on the date of its publication in the Official Journal of the European Union. No further institutional follow-up is required, as the correction is purely technical.