Regulatory Reporting (Germany only)
(Please note that these functions are primarily designed to meet German reporting requirements and may not be relevant to your country).
Premium reserves created from insurance premiums disclosed as liabilities in the balance sheets of insurance companies cover the assets belonging to the premium reserve fund.
The premium reserve fund must be created in order to fulfill German supervisory requirements. It is used to ensure that claims from insurance policyholders can be met.
The assets that belong to the premium reserve fund are documented in premium reserve fund lists (see
PRF Lists). In general, a separate premium reserve fund is set up for each branch of insurance operated by an insurance company.The premium reserve fund is divided into various asset categories.
Examples of possible asset categories:
Asset category |
Description |
PRF 1 |
Registered bond |
PRF 2 |
Registered debt |
PRF 8 |
Bonds |
PRF 9 |
Stocks |
In the SAP System, you enter the
Stock indicator and the insurance branch for each securities account. This ensures that all the values related to the securities account are assigned to the relevant asset grouping and insurance branch.The next two topics deal with the functions Premium Reserve Fund: Transfer and Premium Reserve Fund: Information.
See also:
Premium Reserve Fund : Transfer Premium Reserve Fund: Information