TP (L) – F2 ITEM General Comment CELL NUMBER(S) N/A DEFINITION This template applies to all Best Estimates EXAMPLE N/A It is similar to the one used on the Non-Life Side (See TP – NL => template TP – E2) 1 = 1st year after the reporting year PURPOSE Give an overview of the timing of future cash flows used for calculation of gross BE => description of risk profile (short / long term), ALM analysis, liquidity risk management (for each Balance Sheet category of BE) Assess expected cash-flows on a year-by-year basis, in order to roughly compare with projected investment returns (see Assets templates) and other cash-flows Year (projection of undiscounted cash-flows) 1st column For each line, amount of cash-flows expected for the year Life BE excl U-L (gross) A1-F33 U-L BE (gross) AU1-FU33 Health SLT BE (gross) AH1-FH33 Future Guaranteed Benefits (FGB) A1-A33, AH1AH33 Balance Sheet category for TP (i.e. excl. U-L and health SLT) Reconciliation of total (sum A33-F33) with gross Life BE (excl. U-L) in BS-C1 (cell L8) Balance Sheet category for TP Reconciliation of total (sum AU33-FU33) with gross U-L BE in BS-C1 (cell L11) Balance Sheet category for TP Reconciliation of total (sum AH33-FH33) with gross health SLT BE in BS-C1 (cell L6D) Payments to policyholders and beneficiaries other than future discretionary benefits (see art. 78 (3) of L1 text) Future Discretionary Benefits (FDB) Future Benefits B1-B33, BH1BH33 FDB as defined in CEIOPS L2 advice (ex-CP 39) Assess importance of discretionary obligations in BE AU For unit-linked, all payments to policyholders and beneficiaries (see art. 78 (3) of L1 text) Assess importance of payments of policyholders (where split guaranteed / discretionary not relevant) Assess importance of guaranteed obligations in BE, and therefore importance of minimum engagements towards policyholders TP (L) – F2 ITEM Future Expenses and other cash-out flows Future Premiums CELL NUMBER(S) C, CU, CH D, DU, DH DEFINITION EXAMPLE PURPOSE Expenses as defined in CEIOPS L2 advice (exCP 39); this also includes other gross cashflow items other than payments to policyholders and beneficiaries, such as taxation payments charged to policyholders; Assess importance of expenses (esp. compared to benefits) Future premiums (cash-in flows) as defined in CEIOPS L2 advice (ex CP-30) Assess importance of future premiums, i.e. expected future payments from policyholders Other cash-in flows F, FU, FH This item does not include investment returns, which are not cash-in flows for BE calculation purposes. Value of future cash-flows (sum) A32-FH32 Formula Expected present value (best estimate) of future cash-flows A33-FH33 Sum of cash-flows, after impact of discounting Reconciliation with TP-F1, e.g. for Recoverables : TP-F2 cell A33 is equal to TP-F1 cell BA1 + BA5 + BA7 TP-F2 cell AU33 is equal to TP-F1 cells BA3 TP-F2 cell AH33 is equal to TP-F1 cells BA10+BA12 Compare sum of undiscounted cash flows with BE (discounted) to see overall impact of discounting Reconcile with other templates, and have overall view of TP