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Article number: 11
In regard to reinsurance, this Directive shall not apply to the activity of reinsurance conducted or fully guaranteed by the government of a Member State when that government is acting, for reasons of substantial public interest, in the capacity of reinsurer of last resort, including in circumstances where such a role is required by a situation in the market in which it is not feasible to obtain adequate commercial cover.
Metadata
RULEBOOK TOPIC: SECTION 2 - Exclusions from scope
RULEBOOK CATEGORY: DIRECTIVE 138/2009/EC (SOLVENCY II DIRECTIVE)
Last update on: 03 May 2021