European PRIIPs Template (EPT) / Comfort European PRIIPs Template (CEPT)
Since 2018, the PRIIPs Regulation requires insurance companies to provide a basic information sheet in accordance with the EU standard for life insurance. This also applies to unit-linked insurance products and the investment funds offered as investment options. Insurers need additional information from fund providers to do this.
EPT/CEPT templates allow fund providers to provide this additional information to insurance companies across the EU. The templates comprise in detail:
- the European PRIIPs Template (EPT) with the minimum set of required information on investment funds. The template contains the previous requirements of the German PIA template.
- the Comfort European PRIIPs Template (CEPT) with data that may be required to be provided in addition under bilateral agreements.
The templates were coordinated Europe-wide has been coordinated throughout Europe with the participation of the fund and insurance industry and confirmed by EFAMA and Insurance Europe. The informal working groups responsible for the various data sheets have now resulted in FinDatEx (Financial Data Exchange), which institutionalises the joint work. The templates are being revised under the coordination of FinDatEx. They are free of industrial property rights and copyrights and are available to everyone. The use is voluntary.
The EPT 2.0 is intended to be used for products sold from January 2023 onwards. It is important that data contained in the EPT is communicated by asset managers to insurers in good time before this date, bearing in mind any national market specificities. It is still unclear when the filled EPTs will be required by insurers at the latest.