Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance)Text with EEA relevance
| Published date | 01 July 2013 |
| Subject Matter | Mercato interno - Principi,Libertà di stabilimento,ravvicinamento delle legislazioni,Marché intérieur - Principes,Liberté d'établissement,rapprochement des législations,Mercado interior - Principios,Libertad de establecimiento,aproximación de las legislaciones,Binnenmarkt - Grundsätze,Niederlassungsfreiheit,Angleichung der Rechtsvorschriften |
| Official Gazette Publication | Gazzetta ufficiale dell’Unione europea, L 335, 17 dicembre 2009,Journal officiel de l’Union européenne, L 335, 17 décembre 2009,Diario Oficial de la Unión Europea, L 335, 17 de diciembre de 2009,Amtsblatt der Europäischen Union, L 335, 17. Dezember 2009 |
02009L0138 — EN — 30.06.2021 — 010.002
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| ►B | DIRECTIVE 2009/138/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance) (OJ L 335 17.12.2009, p. 1) |
Amended by:
| Official Journal | ||||
| No | page | date | ||
| ►M1 | DIRECTIVE 2011/89/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 16 November 2011 | L 326 | 113 | 8.12.2011 |
| ►M2 | DIRECTIVE 2012/23/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 12 September 2012 | L 249 | 1 | 14.9.2012 |
| ►M3 | COUNCIL DIRECTIVE 2013/23/EU of 13 May 2013 | L 158 | 362 | 10.6.2013 |
| ►M4 | DIRECTIVE 2013/58/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 11 December 2013 | L 341 | 1 | 18.12.2013 |
| ►M5 | DIRECTIVE 2014/51/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 April 2014 | L 153 | 1 | 22.5.2014 |
| ►M6 | DIRECTIVE (EU) 2016/2341 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 14 December 2016 | L 354 | 37 | 23.12.2016 |
| ►M7 | REGULATION (EU) 2017/2402 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 12 December 2017 | L 347 | 35 | 28.12.2017 |
| ►M8 | DIRECTIVE (EU) 2018/843 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 30 May 2018 | L 156 | 43 | 19.6.2018 |
| ►M9 | DIRECTIVE (EU) 2019/2177 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL Text with EEA relevance of 18 December 2019 | L 334 | 155 | 27.12.2019 |
Corrected by:
| ►C1 | Corrigendum, OJ L 219, 25.7.2014, p. 66 (2009/138/EC) |
▼B
DIRECTIVE 2009/138/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 25 November 2009
on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)
(recast)
(Text with EEA relevance)
| TABLE OF CONTENTS | |
| TITLE I | GENERAL RULES ON THE TAKING-UP AND PURSUIT OF DIRECT INSURANCE AND REINSURANCE ACTIVITIES |
| CHAPTER I | Subject matter, scope and definitions |
| SECTION 1 | Subject matter and scope |
| SECTION 2 | Exclusions from scope |
| Subsection 1 | General |
| Subsection 2 | Non-life |
| Subsection 3 | Life |
| Subsection 4 | Reinsurance |
| SECTION 3 | Definitions |
| CHAPTER II | Taking-up of business |
| CHAPTER III | Supervisory authorities and general rules |
| CHAPTER IV | Conditions governing business |
| SECTION 1 | Responsibility of the administrative, management or supervisory body |
| SECTION 2 | System of governance |
| SECTION 3 | Public disclosure |
| SECTION 4 | Qualifying holdings |
| SECTION 5 | Professional sedcrecy, exchange of information and promotion of supervisory convergence |
| SECTION 6 | Duties of auditors |
| CHAPTER V | Pursuit of life and non-life insurance activity |
| CHAPTER VI | Rules relating to the valuation of assets and liabilities, technical provisions, own funds, solvency capital requirement, minimum capital requirement and investment rules |
| SECTION 1 | Valuation of assets and liabilities |
| SECTION 2 | Rules relating to technical provisions |
| SECTION 3 | Own funds |
| Subsection 1 | Determination of own funds |
| Subsection 2 | Classification of own funds |
| Subsection 3 | Eligibility of own funds |
| SECTION 4 | Solvency capital requirement |
| Subsection 1 | General provisions for the solvency capital requirement using the standard formula or an internal model |
| Subsection 2 | Solvency capital requirement standard formula |
| Subsection 3 | Solvency capital requirement full and partial internal models |
| SECTION 5 | Minimum capital requirement |
| SECTION 6 | Investments |
| CHAPTER VII | Insurance and reinsurance undertakings in difficulty or in an irregular situation |
| CHAPTER VIII | Right of establishment and freedom to provide services |
| SECTION 1 | Establishment by insurance undertakings |
| SECTION 2 | Freedom to provide services: by insurance undertakings |
| Subsection 1 | General provisions |
| Subsection 2 | Third party motor vehicle liability |
| SECTION 3 | Competencies of the supervisory authorities of the host member state |
| Subsection 1 | Insurance |
| Subsection 2 | Reinsurance |
| SECTION 4 | Statistical information |
| SECTION 5 | Treatment of contracts of branches in winding-up proceedings |
| CHAPTER IX | Branches established within the community and belonging to insurance or reinsurance undertakings with head offices situated outside the community |
| SECTION 1 | Taking-up of business |
| SECTION 2 | Reinsurance |
| CHAPTER X | Subsidiaries of insurance and reinsurance undertakings governed by the laws of a third country and acquisitions of holdings by such undertakings |
| TITLE II | SPECIFIC PROVISIONS FOR INSURANCE AND REINSURANCE |
| CHAPTER I | Applicable law and conditions of direct insurance contracts |
| SECTION 1 | Applicable law |
| SECTION 2 | Compulsory insurance |
| SECTION 3 | General good |
| SECTION 4 | Conditions of insurance contracts and scales of premiums |
| SECTION 5 | Information for policy holders |
| Subsection 1 | Non-life insurance |
| Subsection 2 | Life insurance |
| CHAPTER II | Provisions specific to non-life insurance |
| SECTION 1 | General provisions |
| SECTION 2 | Community co-insurance |
| SECTION 3 | Assistance |
| SECTION 4 | Legal expenses insurance |
| SECTION 5 | Health insurance |
| SECTION 6 | Insurance against accidents at work |
| CHAPTER III | Provisions specific to life insurance |
| CHAPTER IV | Rules specific to reinsurance |
| TITLE III | SUPERVISION OF INSURANCE AND REINSURANCE UNDERTAKINGS IN A GROUP |
| CHAPTER I | Group supervision: definitions, cases of application, scope and levels |
| SECTION 1 | Definitions |
| SECTION 2 | Cases of application and scope |
| SECTION 3 | Levels |
| CHAPTER II | Financial position |
| SECTION 1 | Group solvency |
| Subsection 1 | General provisions |
| Subsection 2 | Choice of calculation method and general principles |
| Subsection 3 | Application of the calculation methods |
| Subsection 4 | Calculation methods |
| Subsection 5 | Supervision of group solvency for insurance and reinsurance undertakings that are subsidiaries of an insurance holding company or a mixed financial holding company |
| Subsection 6 | Supervision of group solvency for groups with centralised risk management |
| SECTION 2 | Risk concentration and intra-group transactions |
| SECTION 3 | Risk management and internal control |
| CHAPTER III | Measures to facilitate group supervision |
| CHAPTER IV | Third countries |
| CHAPTER V | Mixed-activity insurance holding companies |
| TITLE IV | REORGANISATION AND WINDING-UP OF INSURANCE UNDERTAKINGS |
| CHAPTER I | Scope and definitions |
| CHAPTER II | Reorganisation measures |
| CHAPTER III | Winding-up proceedings |
| CHAPTER IV | Common provisions |
| TITLE V | OTHER PROVISIONS |
| TITLE VI | TRANSITIONAL AND FINAL PROVISIONS |
| CHAPTER I | Transitional provisions |
| SECTION 1 | Insurance |
| SECTION 2 | Reinsurance |
| SECTION 3 | Insurance and reinsurance |
| CHAPTER II | Final provisions |
| ANNEX I | CLASSES OF NON-LIFE INSURANCE |
| A. | Classification of risks according to classes of insurance |
| B. | Description of authorisations granted for more than one class of insurance |
| ANNEX II | CLASSES OF LIFE INSURANCE |
| ANNEX III | LEGAL FORMS OF UNDERTAKINGS |
| A. | Forms of non-life insurance undertaking: |
| B. | Forms of life insurance undertaking: |
| C. | Forms of reinsurance undertaking: |
| ANNEX IV | SOLVENCY CAPITAL REQUIREMENT (SCR) STANDARD FORMULA |
| 1. | Calculation of the Basic Solvency Capital Requirement |
| 2. | Calculation of the non-life underwriting risk module |
| 3. | Calculation of the life underwriting risk module |
| 4. | Calculation of the market risk module |
| ANNEX V | GROUPS OF NON-LIFE INSURANCE CLASSES FOR THE PURPOSES OF ARTICLE 159 |
| ANNEX VI | |
| Part A | Repealed Directives with list of their successive amendments (referred to in Article 310) |
| Part B | List of time-limits for transposition into national law (referred to in Article 310) |
| ANNEX VII | CORRELATION TABLE |
TITLE I
GENERAL RULES ON THE TAKING-UP AND PURSUIT OF DIRECT INSURANCE AND REINSURANCE ACTIVITIES
CHAPTER I
Subject matter, scope and definitions
Section 1
Subject matter and scope
Article 1
Subject matter
This Directive lays down rules concerning the following:
(1)
the taking-up and pursuit, within the Community, of the self-employed activities of direct insurance and reinsurance;
(2)
the supervision of insurance and reinsurance groups;
(3)
the reorganisation and winding-up of direct insurance undertakings.
Article 2
Scope
1. This Directive shall apply to direct life and non-life insurance undertakings which are established in the territory of a Member State or which wish to become established there.
It shall also apply to reinsurance undertakings which conduct only reinsurance activities and which are established in the territory of a Member State or which wish to become established there with the exception of Title IV.
2. In regard to non-life insurance, this Directive shall apply to activities of the classes set out in Part A of Annex I. For the purposes of the first subparagraph of paragraph 1, non-life insurance shall include the activity which consists of assistance provided for persons who get into difficulties while travelling, while away from their home or...
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