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Directive 2002/83/EC - Life Insurance DirectiveRecitalsTitle I Definitions and Scope (arts. 1-3)Article 1 DefinitionsArticle 2 ScopeArticle 3 Activities and bodies excludedTitle II The Taking Up of the Business of Life Assurance (arts. 4-9)Article 4 Principle of authorisationArticle 5 Scope of authorisationArticle 6 Conditions for obtaining authorisationArticle 7 Scheme of operationsArticle 8 Shareholders and members with qualifying holdingsArticle 9 Refusal of authorisationArticle 9a Prior consultation with the competent authorities of other Member StatesTitle III Conditions Governing the Business of Assurance (arts. 10-39)Chapter 1 Principles and Methods of Financial Supervision (arts. 10-19)Article 10 Competent authorities and object of supervisionArticle 11 Supervision of branches established in another Member StateArticle 12 Prohibition on compulsory ceding of part of underwritingArticle 13 Accounting, prudential and statistical information: supervisory powersArticle 14 Transfer of portfolioArticle 15 Qualifying holdingsArticle 15a Assessment periodArticle 15b AssessmentArticle 15c Acquisitions by regulated financial undertakingsArticle 16 Professional secrecyArticle 17 Duties of auditorsArticle 18 Pursuit of life assurance and non-life insurance activitiesArticle 19 Separation of life assurance and non-life insurance managementChapter 2 Rules Relating to Technical Provisions and their Representation (arts. 20-26)Article 20 Establishment of technical provisionsArticle 21 Premiums for new businessArticle 22 Assets covering technical provisionsArticle 23 Categories of authorised assetsArticle 24 Rules for investment diversificationArticle 25 Contracts linked to UCITS or share indexArticle 26 Matching rulesChapter 3 Rules Relating to the Solvency Margin and to the Guarantee Fund (arts. 27-31)Article 27 Available solvency marginArticle 28 Required solvency marginArticle 28a Solvency margin for assurance undertakings conducting reinsurance activitiesArticle 29 Guarantee fundArticle 30 Review of the amount of the guarantee fundArticle 31 Assets not used to cover technical provisionsChapter 4 Contract Law and Conditions of Assurance (arts. 32-36)Article 32 Law applicableArticle 33 General goodArticle 34 Rules relating to conditions of assurance and scales of premiumsArticle 35 Cancellation periodArticle 36 Information for policy holdersChapter 5 Assurance Undertakings in Difficulty or in an Irregular Situation (arts. 37-39)Article 37 Assurance undertakings in difficultyArticle 38 Financial recovery planArticle 39 Withdrawal of authorisationTitle IV Provisions Relating to Right of Establishment and Freedom to Provide Services (arts. 40-50)Article 40  Conditions for branch establishmentArticle 41 Freedom to provide services: prior notification to the home Member StateArticle 42 Freedom to provide services: notification by the home Member StateArticle 43 Freedom to provide services: changes in the nature of commitmentsArticle 44 LanguageArticle 45 Rules relating to conditions of assurance and scales of premiumsArticle 46 Assurance undertakings not complying with the legal provisionsArticle 47 AdvertisingArticle 48 Winding-upArticle 49 Statistical information on cross-border activitiesArticle 50 Taxes on premiumsTitle V Rules Applicable to Agencies or Branches Established Within the Community and Belonging to Undertakings Whose Head Offices are Outside the Community (arts. 51-57)Article 51 Principles and conditions of authorisationArticle 52 Rules applicable to branches of third-country undertakingsArticle 53 Transfer of portfolioArticle 54 Technical provisionsArticle 55 Solvency margin and guarantee fundArticle 56 Advantages to undertakings authorised in more than one Member StateArticle 57 Agreements with third countriesTitle VI Rules Applicable to Subsidiaries of Parent Undertakings Governed by the Laws of a Third Country and to the Acquisitions of Holdings by Such Parent Undertakings (arts. 58-59)Article 58 Information from Member States to the CommissionArticle 59 Third-country treatment of Community assurance undertakingsTitle VII Transitional and Other Provisions (arts. 60-61)Article 60 Derogations and abolition of restrictive measuresArticle 61 Proof of good reputeTitle VIII Final Provisions (arts. 62-74)Article 62 Cooperation between the Member States and the CommissionArticle 63 Reports on the development of the market under the freedom to provide servicesArticle 64 Technical adjustmentArticle 65 Committee procedureArticle 66 Rights acquired by existing branches and assurance undertakingsArticle 67 Right to apply to the courtsArticle 68 Review of amounts expressed in euroArticle 69 Implementation of new provisionsArticle 70 Information to the CommissionArticle 71 Transitional period for Articles 3(6), 27, 28, 29, 30 and 38Article 72 Repealed directives and their correlation with this DirectiveArticle 73 Entry into forceArticle 74 AddresseesAnnexesAnnex I Classes of assuranceAnnex II Matching rulesAnnex III Information for policy holdersAnnex IVAnnex VAnnex V, Part A Repealed Directives together with their successive amendmentsAnnex V, Part B Deadlines for implementationAnnex VI Correlation tableDone at
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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Published date: 19 December 2002

Directive 2002/83/EC - Life Insurance Directive

Recitals
Title I Definitions and Scope (arts. 1-3)
Article 1 Definitions
Article 2 Scope
Article 3 Activities and bodies excluded
Title II The Taking Up of the Business of Life Assurance (arts. 4-9)
Article 4 Principle of authorisation
Article 5 Scope of authorisation
Article 6 Conditions for obtaining authorisation
Article 7 Scheme of operations
Article 8 Shareholders and members with qualifying holdings
Article 9 Refusal of authorisation
Article 9a Prior consultation with the competent authorities of other Member States
Title III Conditions Governing the Business of Assurance (arts. 10-39)
Chapter 1 Principles and Methods of Financial Supervision (arts. 10-19)
Article 10 Competent authorities and object of supervision
Article 11 Supervision of branches established in another Member State
Article 12 Prohibition on compulsory ceding of part of underwriting
Article 13 Accounting, prudential and statistical information: supervisory powers
Article 14 Transfer of portfolio
Article 15 Qualifying holdings
Article 15a Assessment period
Article 15b Assessment
Article 15c Acquisitions by regulated financial undertakings
Article 16 Professional secrecy
Article 17 Duties of auditors
Article 18 Pursuit of life assurance and non-life insurance activities
Article 19 Separation of life assurance and non-life insurance management
Chapter 2 Rules Relating to Technical Provisions and their Representation (arts. 20-26)
Article 20 Establishment of technical provisions
Article 21 Premiums for new business
Article 22 Assets covering technical provisions
Article 23 Categories of authorised assets
Article 24 Rules for investment diversification
Article 25 Contracts linked to UCITS or share index
Article 26 Matching rules
Chapter 3 Rules Relating to the Solvency Margin and to the Guarantee Fund (arts. 27-31)
Article 27 Available solvency margin
Article 28 Required solvency margin
Article 28a Solvency margin for assurance undertakings conducting reinsurance activities
Article 29 Guarantee fund
Article 30 Review of the amount of the guarantee fund
Article 31 Assets not used to cover technical provisions
Chapter 4 Contract Law and Conditions of Assurance (arts. 32-36)
Article 32 Law applicable
Article 33 General good
Article 34 Rules relating to conditions of assurance and scales of premiums
Article 35 Cancellation period
Article 36 Information for policy holders
Chapter 5 Assurance Undertakings in Difficulty or in an Irregular Situation (arts. 37-39)
Article 37 Assurance undertakings in difficulty
Article 38 Financial recovery plan
Article 39 Withdrawal of authorisation
Title IV Provisions Relating to Right of Establishment and Freedom to Provide Services (arts. 40-50)
Article 40  Conditions for branch establishment
Article 41 Freedom to provide services: prior notification to the home Member State
Article 42 Freedom to provide services: notification by the home Member State
Article 43 Freedom to provide services: changes in the nature of commitments
Article 44 Language
Article 45 Rules relating to conditions of assurance and scales of premiums
Article 46 Assurance undertakings not complying with the legal provisions
Article 47 Advertising
Article 48 Winding-up
Article 49 Statistical information on cross-border activities
Article 50 Taxes on premiums
Title V Rules Applicable to Agencies or Branches Established Within the Community and Belonging to Undertakings Whose Head Offices are Outside the Community (arts. 51-57)
Article 51 Principles and conditions of authorisation
Article 52 Rules applicable to branches of third-country undertakings
Article 53 Transfer of portfolio
Article 54 Technical provisions
Article 55 Solvency margin and guarantee fund
Article 56 Advantages to undertakings authorised in more than one Member State
Article 57 Agreements with third countries
Title VI Rules Applicable to Subsidiaries of Parent Undertakings Governed by the Laws of a Third Country and to the Acquisitions of Holdings by Such Parent Undertakings (arts. 58-59)
Article 58 Information from Member States to the Commission
Article 59 Third-country treatment of Community assurance undertakings
Title VII Transitional and Other Provisions (arts. 60-61)
Article 60 Derogations and abolition of restrictive measures
Article 61 Proof of good repute
Title VIII Final Provisions (arts. 62-74)
Article 62 Cooperation between the Member States and the Commission
Article 63 Reports on the development of the market under the freedom to provide services
Article 64 Technical adjustment
Article 65 Committee procedure
Article 66 Rights acquired by existing branches and assurance undertakings
Article 67 Right to apply to the courts
Article 68 Review of amounts expressed in euro
Article 69 Implementation of new provisions
Article 70 Information to the Commission
Article 71 Transitional period for Articles 3(6), 27, 28, 29, 30 and 38
Article 72 Repealed directives and their correlation with this Directive
Article 73 Entry into force
Article 74 Addressees
Annexes
Annex I Classes of assurance
Annex II Matching rules
Annex III Information for policy holders
Annex IV
Annex V
Annex V, Part A Repealed Directives together with their successive amendments
Annex V, Part B Deadlines for implementation
Annex VI Correlation table
Done at
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