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ADMINISTRATIVE INFORMATION | ||||
Title | ICO - Insurance Corporations Operations | |||
Data source | National central banks (NCBs) and ECB | |||
Contact email address | Statistical Information Request form | |||
TECHNICAL INFORMATION | ||||
Dataset last update in SDW | 2020-08-31 10:00:00 | |||
Catalog | Download the series catalogue of the dataset ICO in CSV format, i.e. full list of series and associated metadata: Excel 2013 (zipped) or the earlier Excel versions. | |||
LEGAL AND INSTITUTIONAL ENVIRONMENT | ||||
Institutional mandate | The framework for the collection of insurance corporation (IC) statistics is laid down in the ECB Regulation concerning statistics on the assets and liabilities of insurance corporations (ECB/2014/50). This Regulation is complemented by Guideline ECB/2014/15. The national central banks are allowed to derive the necessary statistical information, to the extent possible, from data reported for supervisory purposes under the EU"s Solvency II framework. | |||
Legal acts and other agreements | Regulation ECB/2014/50 concerning statistical reporting requirements for insurance corporations. Guideline ECB/2014/15 on monetary and financial statistics (recast) | |||
SCOPE | ||||
Data presentation - Summary description | ICO statistics refer to premiums written, claims incurred and acquisition expenses of insurance corporations resident in the euro area. | |||
Data presentation - Detailed description | ICs are divided into: (i) reinsurance corporations (ii) life insurance corporations (iii) non-life insurance corporations (iv) composite insurance corporations |
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Statistical population | Cs resident in the territory of a euro area Member State form the reference reporting population. NCBs are entitled to exempt ICs from statistical reporting requirements in accordance with Article 7 of Regulation ECB/2014/50. | |||
Reference area coverage | Euro Area | |||
Sector coverage | Insurance corporations belonging to the sub-sector “insurance corporations" in the ESA 2010, sector S.128. | |||
Time coverage | These statistics are available as of reference period 2017 | |||
METHODOLOGICAL INFORMATION | ||||
Source data type | ICs submit to the NCBs the data that the NCBs require in accordance with Guideline ECB/2014/15 on monetary, financial institutions and markets statistics. These in turn report national aggregates to the ECB. | |||
Time period | Annual | |||
Time period - collection | End of the period | |||
Frequency of data collection | Annual | |||
Statistical concepts and definitions | For information about the naming convention (series key dimensions and metadata), refer to the ICO underlying DSD (ECB_ICO1) maintained by the ECB. | |||
STATISTICAL PROCESSING | ||||
Data compilation | Data are aggregated across IC sector in each Member State by NCBs or national statistical institutes to derive contributions to the euro area aggregated balance sheet of the IC sector. | |||
Adjustment | Neither seasonally nor working-day adjusted. | |||
Data validation | Validation is based on the verification of balance sheet constraints, and on checks on the plausibility of developments at various levels of aggregation. | |||
Data revision - policy | The revisions policy and procedures set by the ECB and the relevant NCB must be followed. | |||
QUALITY | ||||
Quality management | Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2014/15 on monetary and financial statistics (recast) | |||
Accuracy | Minimum standards for accuracy: (a) statistical information must be correct: all linear constraints must be fulfilled (e.g. subtotals must add up to totals); (b) reporting agents must be able to provide information on the developments implied by the transmitted data; (c) statistical information must be complete and must not contain continuous and structural gaps; existing gaps should be acknowledged, explained to the relevant NCB and, where applicable, bridged as soon as possible; (d) reporting agents must follow the dimensions, rounding policy and decimals set by the relevant NCB for the technical transmission of the data. |
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DISSEMINATION | ||||
Release policy - release calendar | See the release calendar for insurance corporations statistics in the euro area on the ECB’s website. | |||
Dissemination format | Statistical Data Warehouse (SDW) and ECB website | |||
Dissemination format - news release | Press release on the ECB Website | |||
MISCELLANEOUS | ||||
Metadata last update | 26/OCT/2020 18:55:01 |