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European PRIIPs template ready for use

Chris Hamblin, Editor, London, 12 July 2017

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Insurance Europe, the Brussels-based European insurance and reinsurance federation which has 35 member bodies, has published two templates to facilitate the exchange of information between insurers and asset managers that is required under the European Union's packaged retail investment and insurance products (PRIIPs) regulation in relation to multi-option products or MOPs.

The templates provide a functional description of the set of data to be exchanged from asset managers and banks to insurers to help them fulfil their PRIIPs regulatory obligations. They are:

  • The European PRIIPs template, which includes the minimum data necessary for insurers to produce a key information document according to the provisions of the PRIIPs Regulation. Asset managers will deliver these files for free.
  • The 'Comfort' European PRIIPs template, which includes more data and whose use therefore depends on ad hoc agreements between insurers and asset managers.

The use of the templates is not compulsory, but the EU is in favour of them. They are free of intellectual property and copyright issues and can be found at www.insuranceeurope.eu/priips-information-exchange-templates-developed.

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