Rulebook search

In assessing whether the exclusive application of method 1 is not appropriate, thus allowing the group solvency to be calculated in accordance with method 2 or a combination of methods 1 and 2 laid down in Articles 230 to 233 of Directive 2009/138/EC, the group supervisor shall, in consultation...

Special purpose vehicles shall invest all their assets in accordance with all of the following requirements: (a) with respect to the whole portfolio of assets, special purpose vehicles shall only invest in assets and instruments whose risk the special purpose vehicle can properly identify, measure...

In order to be considered fully funded special purpose vehicles shall satisfy all of the following requirements: (a) the assets of the special purpose vehicle are valued in accordance with Article 75 of Directive 2009/138/EC; (b) the special purpose vehicle has at all times assets the value of...

The supervisory authorities in the Member State in which the special purpose vehicle is established may request such information from the special purpose vehicle as is necessary in order to supervise the special purpose vehicle. Special purpose vehicles shall report all of the following...

Special purpose vehicles shall have an effective system of governance which provides for sound and prudent management of the special purpose vehicle and that is appropriate to the nature, scale and complexity of the risks it assumes and the uses for which it is authorised. The system of governance...

The assessment of whether the shareholders or members having a qualifying holding within the meaning of Article 13(21) of Directive 2009/138/EC in a special purpose vehicle are fit and proper shall take into account all of the following criteria: (a) the reputation and integrity of the shareholder...

All persons who effectively run a special purpose vehicle shall at all times fulfil the requirements set out in Article 42(1) of Directive 2009/138/EC. Special purpose vehicles shall notify the supervisory authorities of the identity of the persons who effectively run the special purpose vehicle...

The contractual arrangements relating to the transfer of risk from an insurance or reinsurance undertaking to a special purpose vehicle and from the special purpose vehicle to the providers of debt or finance shall ensure all of the following: (a) the claims of the providers of debt or financing...

The contractual arrangements relating to the transfer of risk from an insurance or reinsurance undertaking to a special purpose vehicle and from the special purpose vehicle to the providers of debt or financing shall ensure all of the following: (a) the transfer of risk is effective in all...