Regulatory Alerts2024-12-06
Order on Reports on Solvency and Financial Situation for Group 1 Insurance Undertakings
The Danish Financial Supervisory Authority issues this order to implement specific Solvency II reporting requirements for Group 1 insurance undertakings and insurance groups. It mandates the public disclosure of solvency and financial situation reports, including detailed notifications of significant events such as capital shortfalls, while allowing for confidentiality exemptions under strict conditions. The regulation establishes board approval responsibilities and criminal penalties for non-compliance, entering into force on January 1, 2025.
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