17 Jun 2020
Webinar: PRIIP Categories 2 to 4 – A Comparison of Different Equals
Since January 1st, 2018 private investors in the European Union receive a “key information document” (KID) prior to the purchase of a “packaged retail investment and insurance-based product” (PRIIP). These products include funds and endowment insurances. The KIDs provide the most important features of the product such as costs and risks of the investment and have the purpose of allowing the investors to compare similar investment products.
The PRIIP categories sort these products by their relation to the market/benchmarks. Category-2-, 3- and 4-products can be rather similar, however the type of package in which they are sold lets them be sorted into different categories. While products from category 2 are constant multiples of a benchmark, category 3s are dependent on a benchmark, yet not a constant multiple of it. And category 4s are (partially) dependent on factors that are not observable on the market.
Each category uses different methods for the derivation of the same key figures, which are shown in the respective KIDs, as these are standardized for all PRIIPs. The main question is to which extent a comparison can later be drawn, when the calculation methods differ as severely as they do between these categories.
This webinar will compare the methods and results of the categories 2 through 4 by explaining the mechanisms of each calculation method and the process of obtaining these figures. The implications for the respective result figures in the KIDs will be discussed, while incorporating effects of the capital market developments. It will also expand on experiences from applying the PRIIP regulation in the German and Austrian insurance industry.
Organised by the EAA - European Actuarial Academy GmbH.
The webinar is open to all interested persons.
Technical requirements and test sessionPlease check with your IT department if your firewall and computer settings support webinar participations (the programme GoToTraining is used for the webinar). Please also make sure that you are joining the webinar with a stable internet connection.
On 10 June 2020 10:00 – 10:30 CEST, there will be a test session offered to all registered participants to test the software.
Purpose and Nature
Thomas RaabThomas is a senior consultant at ROKOCO GmbH. He studied mathematics and is a member of the German Association of Actuaries (Aktuar DAV). He held leading positions in underwriting, pricing and projection systems for a German life insurance company. At ROKOCO he is responsible for the development of the life insurance projection system and PRIIP.
Anton S. WittlAnton is managing partner at ROKOCO GmbH. He studied economics and finance and is Certified International Investment Analyst (CIIA). He has a focus on projects concerning asset management and finance and is responsible for the economic scenario generator at ROKOCO.