Regulatory Alerts2024-12-05
Order on Business Plans, Recovery Plans, Financing Plans and Individual Solvency Requirements for Insurance Undertakings
The Danish Financial Supervisory Authority issued this Order to implement Solvency II requirements for Group 1 and Group 2 insurance undertakings, mandating detailed business, recovery, and financing plans alongside individual solvency needs assessments. It establishes strict content requirements for these plans, including capital adequacy estimates, risk evaluations, and quarterly reporting to ensure realistic financial projections. The regulation supersedes the 2015 Order and enters into force on January 1, 2025, with penalties for non-compliance.
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