Regulatory Alerts2016-02-25
Added · Updated
Solvency II Basic: Exemption Thresholds and Supervisory Scope for Small Insurers
Non-life and funeral services insurers with gross annual premium income not exceeding EUR 2,200,000 and annualised technical provisions not exceeding EUR 10,700,000 fall outside the supervisory scope of De Nederlandsche Bank (DNB) if they meet specific exemption requirements. These exempted insurers are prohibited from effecting insurance providing cover in excess of EUR 14,000 per insured object or death and must disclose their non-subjection to DNB supervision. While exempt from DNB oversight, these entities may remain subject to supervision by the Netherlands Authority for the Financial Markets (AFM).
Topics
Share