Regulatory Alerts2017-06-26
Added · Updated
Insurance activities requiring authorisation
The document establishes a flow chart and criteria to determine whether insurance activities require Solvency II authorisation or a Basic authorisation. It specifies that Solvency II Basic authorisation holders are prohibited from pursuing activities abroad and outlines opt-in possibilities for life insurers, non-life insurers, and large prepaid funeral services insurers. Entities may be exempted from prudential supervision if they meet specific numeric thresholds, including gross premium income below EUR 5 million, aggregate technical provisions below EUR 25 million, and reinsurance premium income below EUR 0.5 million.