Regulatory Alerts2023-07-12
Added · Updated
Legislation and regulations governing market access for insurers
The Financial Supervision Act (Wft) mandates that insurers must obtain authorization to operate in the Netherlands, with supervision based on the European Solvency II Directive. De Nederlandsche Bank (DNB) is responsible for issuing authorizations and exercising prudential supervision, while the Netherlands Authority for the Financial Markets (AFM) oversees market conduct. The document provides an overview of the relevant legal sections for applying for authorization as a Solvency II-insurer or a Basic-insurer, alongside guidance on anti-money laundering, counter-terrorist financing, and integrity risk analysis.