Regulatory Alerts2022-12-23
Added · Updated
Limitation of the power of disposal
DNB may restrict or prohibit an insurer's power to dispose of its assets to cover technical provisions if the insurer fails to comply with minimum requirements for technical provisions or solvency margins, particularly when DNB expects further deterioration of the insurer's financial position. This measure applies to all insurers regardless of their registered office location and must be lifted once the insurer meets the minimum requirements again. While the restriction has internal effect, legal acts contravening the measure may be declared null if the counterparty knew or should have known about the imposition.
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