Regulatory Alerts2020-10-14 | Circular 7/2016 (VA) Establishment and keeping of the register of assets, submission of the printout and custody of the guarantee assets (Sicherungsvermögen)Establishment, Keeping and Custody of the Register of Guarantee Assets
BaFin requires authorized primary insurance undertakings, Pensionskassen, and Pensionsfonds to establish and maintain a computerized register of guarantee assets that segments investments by class and account. The circular mandates immediate chronological recording of all additions and withdrawals, strict custody within the EEA, and the electronic submission of annual printouts within three months of year-end. These measures ensure absolute beneficiary precedence in insolvency proceedings by guaranteeing accurate, auditable coverage of technical provisions.
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