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European Insurance and Occupational Pensions Authority

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Supervision of branches established in another Member State

Member States shall provide that, where an insurance or reinsurance undertaking authorised in another Member State carries on business through a branch, the supervisory authorities of the home Member State may, after having informed the supervisory authorities of the host Member State concerned...

General supervisory powers

1. Member States shall ensure that the supervisory authorities have the power to take preventive and corrective measures to ensure that insurance and reinsurance undertakings comply with the laws, regulations and administrative provisions with which they have to comply in each Member State.2. The...

Information to be provided for supervisory purposes

1. Member States shall require insurance and reinsurance undertakings to submit to the supervisory authorities the information which is necessary for the purposes of supervision, taking into account the objectives of supervision laid down in Articles 27 and 28. Such information shall include at...

Supervisory review process

1. Member States shall ensure that the supervisory authorities review and evaluate the strategies, processes and reporting procedures which are established by the insurance and reinsurance undertakings to comply with the laws, regulations and administrative provisions adopted pursuant to this...

Conditions for authorisation

1. The home Member State shall require every undertaking for which authorisation is sought:(a) in regard to insurance undertakings, to limit their objects to the business of insurance and operations arising directly therefrom, to the exclusion of all other commercial business;(b) in regard to...

Close links

Where close links exist between the insurance undertaking or reinsurance undertaking and other natural or legal persons, the supervisory authorities shall grant authorisation only if those links do not prevent the effective exercise of their supervisory functions.The supervisory authorities shall...

Policy conditions and scales of premiums

1. Member States shall not require the prior approval or systematic notification of general and special policy conditions, of scales of premiums, of the technical bases, used in particular for calculating scales of premiums and technical provisions, or of forms and other printed documents which an...

Economic requirements of the market

Member States shall not require that any application for authorisation be considered in the light of the economic requirements of the market.for the normal exercise of supervision.

Scheme of operations

1. The scheme of operations referred to in Article 18(1)(c) shall include particulars or evidence of the following:(a) the nature of the risks or commitments which the insurance or reinsurance undertaking concerned proposes to cover;(b) the kind of reinsurance arrangements which the reinsurance...