Regulatory Alerts2009-03-19
Added · Updated
Applying for a licence as a special purpose reinsurance vehicle
Operating a special purpose reinsurance vehicle in the Netherlands requires a licence from De Nederlandsche Bank (DNB) and compliance with specific prudential rules. Applicants must submit a programme of operations detailing risk coverage, administrative organization, and financial projections, alongside integrity tests for managing and supervisory board members. The vehicle must maintain a minimum guarantee fund of up to EUR 1 million as determined by DNB based on its risk profile, and any holder acquiring a qualifying holding of 10% or more must obtain a declaration of no-objection. DNB processes these applications within thirteen weeks, provided all requested information is supplied.