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
Coming into Force | 30 June 2021 |
ELI | http://data.europa.eu/eli/dir/2009/138/2021-06-30 |
Celex Number | 02009L0138-20210630 |
Published date | 30 June 2021 |
Date | 30 June 2021 |
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:
the taking-up and pursuit, within the Community, of the self-employed activities of direct insurance and reinsurance;
the supervision of insurance and reinsurance groups;
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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