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Article number: 177
1. Member States shall inform the Commission and EIOPA of any general difficulties encountered by their insurance or reinsurance undertakings in establishing themselves and operating in a third country or pursuing activities in a third country.
2. The Commission shall, periodically, submit a report to the Council examining the treatment accorded, in third countries, to insurance or reinsurance undertakings authorised in the Community, as regards the following:
(a) the establishment in third countries of insurance or reinsurance undertakings authorised in the Community;
(b) the acquisition of holdings in third-country insurance or reinsurance undertakings;
(c) the pursuit of insurance or reinsurance activities by such established undertakings;
(d) the cross-border provision of insurance or reinsurance activities from the Community to third countries.
The Commission shall submit those reports to the Council, together with any appropriate proposals or recommendations.
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Metadata
RULEBOOK TOPIC: CHAPTER X - Subsidiaries of insurance and reinsurance undertakings governed by the laws of a third country and acquisitions of holdings by such undertakings
RULEBOOK CATEGORY: DIRECTIVE 138/2009/EC (SOLVENCY II DIRECTIVE)
Last update on: 29 Nov 2021