Regulatory Alerts2017-03-10
Guidelines for Authorising Insurance Joint-Stock Companies for Health Insurance Business in Germany
The Federal Financial Supervisory Authority (BaFin) issued these guidelines to specify the documentation, financial thresholds, and organizational requirements that insurance joint-stock companies must meet to obtain authorization for health insurance business in Germany. The notice mandates the submission of notarised formation records, a comprehensive business plan, and proof of sufficient own funds and solvency capital alongside fit-and-proper senior management. It further details procedural requirements for cross-border operations, reinsurance contracts, outsourcing arrangements, and simplified compliance pathways for newly established small insurance undertakings.
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