Regulatory Alerts2024-12-05
Order on the Transfer of Insurance Portfolios of Group 1 Insurance Undertakings
The Danish Financial Supervisory Authority issued this Order to implement specific provisions of the Solvency II Directive regarding the transfer of insurance portfolios by Group 1 insurance undertakings. It establishes the legal framework and conditions under which such portfolios can be transferred to other EU or treaty-country insurers, requiring supervisory consent and solvency capital verification. The regulation defines the location of risk for various insurance types and sets penalties for non-compliance, entering into force on January 1, 2025.
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