Regulatory Alerts2018-03-28
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Banque nationale de Belgique - Tariff rebalancing decision under Article 504 of the Law of 13 March 2016
The Banque nationale de Belgique orders Allianz Benelux SA to implement immediate and future premium increases for specific insurance products to achieve tariff rebalancing. An immediate 9.5% premium increase applies to products Z79-Z95-Z59, ZCB-Z76-Z96, Z33, and Z31 sold between 1974 and 2012. Subsequent annual increases range from 1.5% to 3% depending on the specific product and sales period, calculated relative to the previous year's levels.
NATIONAL BANK OF BELGIUM [C − 2018/11489] Decision on tariff rebalancing in application of Article 504 of the Law of 13 March 2016 on the status and supervision of insurance or reinsurance undertakings
By decision of 20 March 2018 taken on the basis of Article 504 of the Law of 13 March 2016 on the status and supervision of insurance or reinsurance undertakings, the National Bank of Belgium has decided to impose on insurance company Allianz Benelux NV, whose registered office is located at 35 Laekenstraat, 1000 Brussels, the rebalancing of certain of its products.
This imposed tariff rebalancing involves the following: a) an immediate increase, in accordance with Article 41 of the Law of 4 April 2014, consisting of an increase in premiums of 9.5% for: — products Z79-Z95-Z59 marketed in the period from 1974 to 1994; — products ZCB-Z76-Z96 marketed between 1991 and 1999 and Z33 marketed between 2008 and 2010; — product Z31 marketed between 2003 and 2012; b) for subsequent years, an annual increase in premiums — by 3% for products Z79-Z95-Z59 marketed in the period from 1974 to 1994; — by 2% for products ZCB-Z76-Z96 marketed between 1991 and 1999; — by 1.5% for product Z33 marketed between 2008 and 2010; — by 2.5% for product Z31 marketed between 2003 and 2012; — by 1.5% for product Z31 marketed between 2012 and 2018, relative to their level in the previous year (in this level the increases have been applied in accordance with Article 204 of the Law of 4 April 2014 concerning insurance).
Brussels, 21 March 2018. The Governor, J. SMETS
BANQUE NATIONALE DE BELGIQUE [C − 2018/11489] Decision on tariff rebalancing in application of Article 504 Law of 13 March 2016 on the supervision of insurance or reinsurance undertakings
By decision of 20 March 2018 taken in application of Article 504 of the Law of 13 March 2016 on the supervision of insurance or reinsurance undertakings, the Banque nationale de Belgique has decided to impose on the insurance company Allianz Benelux SA, whose registered office is established at 35 Rue de Laeken, 1000 Brussels, a rebalancing of the tariff of certain of its products.
This imposed tariff rebalancing implies: a) an immediate increase, in conformity with Article 41 of the Law of 4 April 2014, consisting of an increase in premiums set at 9.5% for: — products Z79-Z95-Z59, marketed during the period from 1974 to 1994; — products ZCB-Z76-Z96 marketed between 1991 and 1999 and Z33 marketed between 2008 and 2010; — product Z31 marketed between 2003 and 2012; b) for subsequent years, an annual increase in premiums — by 3% for products Z79-Z95-Z59, marketed during the period from 1974 to 1994; — by 2% for products ZCB-Z76-Z96 marketed between 1991 and 1999; — by 1.5% for product Z33 marketed between 2008 and 2010; — by 2.5% for product Z31 marketed between 2003 and 2012, — by 1.5% for product Z31 marketed between 2012 and 2018, relative to their level in the previous year (this level including the increases applied in accordance with Article 204 of the Law of 4 April 2014 concerning insurance).
Brussels, 21 March 2018. The Governor, J. SMETS
30650 BELGIAN OFFICIAL GAZETTE — 28.03.2018 — MONITEUR BELGE
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