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Pillar 3 – Single SFCR


Published: 28 January 2016


Is an insurance company permitted to draft a single Solvency and Financial Condition Report (SFCR) for the group as well as for the affiliated insurance entities?


Yes, subject to approval of the supervisory authority, insurance companies are permitted to submit a single SFCR (pursuant to Section 3:228i(4) of the Financial Supervision Act (Wet op het financieel toezicht – Wft)). A single SFCR must include:

  • the information at group level that is publicly disclosed;
  • the information about subsidiary companies within the group that can be traced back to these individual companies and is publicly disclosed (in accordance with Section 3:73c(1) and (2) of the Wft).

You can use the "Single SFCR" application form to apply for permission to submit a single SFCR.

Who can apply for permission to submit a single SFCR?
In principle, every insurance company or group is entitled to apply for permission to submit a single SFRC. The option of submitting a single SFCR applies both to national and international insurance groups.

Application form
We request that you use the "Single SFCR" application form (in Dutch) to apply for permission. The form sets out the documentation required for our assessment. In addition, we request that you use e-Line DNB to submit your application (see Applications – general).

The required information can be submitted electronically using the e-line DNB application form (see Applications – general). Please contact your examining officer prior to submitting your application.

Required documents

If you wish to use the Single SFCR option, please send us a "prototype" group report setting out:

  • the insurance entities included in the proposed set-up (scope);
  • the treatment of the entities in the proposed group report and how transparency about them has been ensured;
  • how the policymakers of the insurance entities within the scope of the report are involved in the drafting of the SFCR.

The first step in the assessment procedure is verifying whether the application is complete. The substantive assessment starts once the application package is deemed to be complete. An assessment of an application for a single SFCR for international insurance groups may include the involvement of supervisory authorities from other countries.

The decision on the permission to use a single SFCR must be taken by the supervisory authority, possibly in consultation with the College of Supervisors, within a six-week period.


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