RegAlert2016-04-25 | NBB_2016_13Added
Circular NBB_2016_13 on Group Solvency
The circular establishes guidelines for calculating group solvency under Solvency II for Belgian insurance and reinsurance companies within a group or financial conglomerate. It mandates the inclusion of all linked entities in the solvency calculation scope, specifies proportional share calculations for consolidated and aggregated data, and defines criteria for limiting parental liability to capital shares in subsidiaries. The document further details the treatment of minority interests, restricted funds, and non-available own funds in the coverage of the group's Solvency Capital Requirement.
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NBB_2016_13 – 11 April 2016 Circular – Page 1/9 14 Boulevard de Berlaimont – BE-1000 Brussels tel. +32 2 221 38 12 – fax +32 2 221 31 04 company number: 0203.201.340 RPM Brussels www.bnb.be
Circular
Brussels, 25 April 2016
Reference: NBB_2016_13 your correspondent:
Geoffroy Herberigs tel. +32 2 221 56 61 – fax +32 2 221 31 04 geoffroy.herberigs@nbb.be
Circular on Group Solvency
Scope
Insurance or reinsurance undertakings that are part of a group under Belgian law within the meaning of Article 339, 2° of the Law of 13 March 2016 on the status and supervision of insurance or reinsurance undertakings.
Belgian law undertakings that are part of a Belgian financial conglomerate within the meaning of Article 340, 1° of the aforementioned Law of 13 March 2016.
This circular applies to mutual insurance companies as defined in Article 15, 79° of the aforementioned Law of 13 March 2016. For these undertakings, "the Bank" should be replaced by "the Office for the Supervision of Mutualities and National Mutualities Unions" as defined in Article 15, 84° of the same Law. This circular does not apply to insurance undertakings referred to in Articles 275, 276 or 294 of the aforementioned Law of 13 March 2016.
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Lineage: In force
Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works