Regulatory Alerts2024-12-05
Order on Branches of Third-Country Insurance Undertakings
The Danish Financial Supervisory Authority issues this Order to regulate the establishment and operation of branches by insurance undertakings from countries outside the European Union. It mandates that such entities obtain prior authorization, submit comprehensive documentation including business plans and solvency certificates, and appoint a local general agent to ensure compliance with Danish insurance laws. The regulation further details ongoing reporting obligations, capital requirements, and the supervisory powers of the authority to enforce measures or revoke licenses if risks to policyholders arise.
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