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Own funds shall comprise the sum of basic own funds, referred to in Article 88 and ancillary own funds referred to in Article 89.

Basic own funds shall consist of the following items:(1) the excess of assets over liabilities, valued in accordance with Article 75 and Section 2;(2) subordinated liabilities.The excess amount referred to in point (1) shall be reduced by the amount of own shares held by the insurance or...

1. Ancillary own funds shall consist of items other than basic own funds which can be called up to absorb losses.Ancillary own funds may comprise the following items to the extent that they are not basic own-fund items:(a) unpaid share capital or initial fund that has not been called up;(b)...

1. The amounts of ancillary own-fund items to be taken into account when determining own funds shall be subject to prior supervisory approval.2. The amount ascribed to each ancillary own-fund item shall reflect the loss-absorbency of the item and shall be based upon prudent and realistic...

1. Surplus funds shall be deemed to be accumulated profits which have not been made available for distribution to policy holders and beneficiaries.2. In so far as authorised under national law, surplus funds shall not be considered as insurance and reinsurance liabilities to the extent that they...

1. In order to ensure consistent harmonisation in relation to the determination of own funds, EIOPA shall, subject to Article 301b, develop draft regulatory technical standards to specify the criteria for granting supervisory approval of ancillary own funds in accordance with Article 90.Power is...

1. Own-fund items shall be classified into three tiers. The classification of those items shall depend upon whether they are basic own fund or ancillary own-fund items and the extent to which they possess the following characteristics:(a) the item is available, or can be called up on demand, to...

1. Basic own-fund items shall be classified in Tier 1 where they substantially possess the characteristics set out in Article 93(1)(a) and (b), taking into consideration the features set out in Article 93(2).2. Basic own-fund items shall be classified in Tier 2 where they substantially possess the...

Member States shall ensure that insurance and reinsurance undertakings classify their own-fund items on the basis of the criteria laid down in Article 94.For that purpose, insurance and reinsurance undertakings shall refer to the list of own-fund items referred to in Article 97(1)(a), where...