Purpose
As an underwriter, you’re required to periodically share clear and reliable insights into your delegated insurance portfolio.
In Novulo, you can easily generate the VRA (Volmacht Result Analysis) and NVGA reports to provide both financial and operational transparency to insurers and regulators.
These reports ensure compliance with standards from the Verbond van Verzekeraars (VvV) and the Nederlandse Vereniging van Gevolmachtigde Assurantiebedrijven (NVGA), while helping you monitor your portfolio’s performance.
Understand the VRA and NVGA Reports
| Report | Purpose | Focus | Frequency |
|---|---|---|---|
| VRA – Volmacht Result Analysis | Provides financial insight into the delegated portfolio | Premiums, claims, commissions, reserves, and result distribution | Quarterly |
| NVGA Report | Complements the VRA with operational and compliance details | Premium collection, settlements, policy counts, and commission flows | Quarterly |
Tip: The VRA and NVGA reports are often generated together to ensure data consistency and audit readiness.
Purpose of the VRA Report
The VRA is the standardized report prescribed by the Verbond van Verzekeraars.
It enables both the underwriter (MGA) and the insurer to:
- Monitor the financial performance of the delegated portfolio.
- Verify whether the delegated authority agreement is being followed.
- Benchmark results across different underwriters.
The report typically includes:
- Premium income
- Claims costs
- Commissions and expenses
- Reserves
- Distribution of the financial result between the MGA and insurer
The VRA format is usually prescribed by the insurer or the Verbond template.
Purpose of the NVGA Report
The NVGA report complements the VRA with more detailed operational and compliance data.
It provides transparency for both the insurer and supervisory authorities such as AFM and DNB.
The report includes:
- Premium collection and settlements
- Claims reserves and payments
- Policy counts, renewals, and cancellations
- Management expenses and commission flows
Use these reports to:
- Demonstrate compliance and transparency
- Facilitate insurer and regulator supervision
- Improve operational efficiency within the insurance value chain
Running the VRA and NVGA Reports in Novulo
You can generate both reports directly from your Novulo application.
- Go to All apps → Management → VRA report.
- Click on the plus icon to start a new report.
- Choose the organisation and write an description (e.g., Q1, Q2, Q3, or Q4).
- Click Save.
- Click on the newly appeared button Generate report (Geneer rapporten)
- Under files the report will appear.
- Verify that the VRA report includes:
- Premium income
- Claims costs
- Commissions and expenses
- Reserves
- Net result and result distribution
- Export the report in the required format.
Next, run the NVGA report for the same period:
- Go to All apps → Management → NVGA Report.
- Click on the plus icon to start a new report.
- Choose the reporting date (peildatum) and organisation.
- Click Save.
- Click on the newly appeared button Generate report (Geneer rapporten)
- Under files the report will appear.
- Verify that the NVGA report includes:
- Premium collection and settlements
- Claims reserves and payments
- Policy counts, renewals, and cancellations
- Commission flows
- Export the report for submission to the insurer or regulator.
Reviewing and Submitting the Reports
Before sending your reports:
- Check that both reports cover the same data period.
- Validate figures against your internal accounting system.
- Ensure all required data fields are filled (some insurers reject incomplete reports).
- Store the exported files in your compliance archive in Novulo.
Link to Compliance and Reporting
Producing accurate and timely VRA and NVGA reports supports key compliance requirements:
- Verbond van Verzekeraars standards: Data format and reporting frequency.
- AFM / DNB supervision: Transparency in delegated authority operations.
- Internal control: Monitoring portfolio health and underwriting performance.