Date-stamp loading
Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Published date: 17 January 2015

Regulation 2015/35/EU - Solvency II Delegated Regulation

Comparing proposed amendment...
Recitals
Title I Valuation and risk-based capital requirements (pillar I), enhanced governance (pillar II) and increased transparency (pillar III) (arts. 1-327)
Chapter I General provisions (arts. 1-6)
Section 1 Definitions and general principles (arts. 1-2)
Amended
Article 1 Definitions
Entered into force
Article 2 Expert judgement
Section 2 External credit assessments (arts. 3-6)
Entered into force
Article 3 Association of credit assessments to credit quality steps
Amended
Article 4 General requirements on the use of credit assessments
Entered into force
Article 5 Issuers and issue credit assessment
Entered into force
Article 6 Double credit rating for securitisation positions
Chapter II Valuation of assets and liabilities (arts. 7-16)
Entered into force
Article 7 Valuation assumptions
Entered into force
Article 8 Scope
Entered into force
Article 9 Valuation methodology - general principles
Entered into force
Article 10 Valuation methodology - valuation hierarchy
Entered into force
Article 11 Recognition of contingent liabilities
Entered into force
Article 12 Valuation methods for goodwill and intangible assets
Amended
Article 13 Valuation methods for related undertakings
Entered into force
Article 14 Valuation methods for specific liabilities
Entered into force
Article 15 Deferred taxes
Entered into force
Article 16 Exclusion of valuation methods
Chapter III Rules relating to technical provisions (arts. 17-61)
Section 1 General provisions (arts. 17-18)
Entered into force
Article 17 Recognition and derecognition of insurance and reinsurance obligations
Amended
Article 18 Boundary of an insurance or reinsurance contract
Section 2 Data quality (arts. 19-21)
Entered into force
Article 19 Data used in the calculation of technical provisions
Entered into force
Article 20 Limitations of data
Entered into force
Article 21 Appropriate use of approximations to calculate the best estimate
Section 3 Methodologies to calculate technical provisions (arts. 22-42)
Subsection 1 Assumptions underlying the calculation of technical provisions (arts. 22-26)
Entered into force
Article 22 General provisions
Entered into force
Article 23 Future management actions
Entered into force
Article 24 Future discretionary benefits
Entered into force
Article 25 Separate calculation of the future discretionary benefits
Entered into force
Article 26 Policyholder behaviour
Subsection 2 Information underlying the calculation of best estimates (art. 27)
Entered into force
Article 27 Credibility of information
Subsection 3 Cash flow projections for the calculation of the best estimate (arts. 28-36)
Entered into force
Article 28 Cash flows
Entered into force
Article 29 Expected future developments in the external environment
Entered into force
Article 30 Uncertainty of cash flows
Entered into force
Article 31 Expenses
Entered into force
Article 32 Contractual options and financial guarantees
Entered into force
Article 33 Currency of the obligation
Entered into force
Article 34 Calculation methods
Entered into force
Article 35 Homogeneous risk groups of life insurance obligations
Entered into force
Article 36 Non-life insurance obligations
Subsection 4 Risk margin (arts. 37-39)
Entered into force
Article 37 Calculation of the risk margin
Entered into force
Article 38 Reference undertaking
Entered into force
Article 39 Cost-of-Capital rate
Subsection 5 Calculation of technical provisions as a whole (art. 40)
Entered into force
Article 40 Circumstances in which technical provisions shall be calculated as a whole and the method to be used
Subsection 6 Recoverables from reinsurance contracts and special purpose vehicles (arts. 41-42)
Entered into force
Article 41 General provisions
Entered into force
Article 42 Counterparty default adjustment
Section 4 Relevant risk-free interest rate term structure (arts. 43-54)
Subsection 1 General provisions (art. 43)
Amended
Article 43 General provisions
Subsection 2 Basic risk free interest rate term structure (arts. 44-48)
Entered into force
Article 44 Relevant financial instruments to derive the basic risk-free interest rates
Entered into force
Article 45 Adjustment to swap rates for credit risk
Entered into force
Article 46 Extrapolation
Entered into force
Article 47 Ultimate forward rate
Entered into force
Article 48 Basic risk-free interest rate term structure of currencies pegged to the euro
Subsection 3 Volatility adjustment (arts. 49-51)
Entered into force
Article 49 Reference portfolios
Entered into force
Article 50 Formula to calculate the spread underlying the volatility adjustment
Entered into force
Article 51 Risk-corrected spread
Subsection 4 Matching adjustment (arts. 52-54)
Entered into force
Article 52 Mortality risk stress
Entered into force
Article 53 Calculation of the matching adjustment
Entered into force
Article 54 Calculation of the fundamental spread
Section 5 Lines of business (art. 55)
Entered into force
Article 55 Lines of business
Section 6 Proportionality and simplifications (arts. 56-61)
Entered into force
Article 56 Proportionality
Entered into force
Article 57 Simplified calculation of recoverables from reinsurance contracts and special purpose vehicles
Entered into force
Article 58 Simplified calculation of the risk margin
Entered into force
Article 59 Calculations of the risk margin during the financial year
Entered into force
Article 60 Simplified calculation of the best estimate for insurance obligations with premium adjustment mechanism
Entered into force
Article 61 Simplified calculation of the counterparty default adjustment
Chapter IV Own funds (arts. 62-82)
Section 1 Determination of own funds (arts. 62-68)
Subsection 1 Supervisory approval of ancillary own funds (arts. 62-67)
Entered into force
Article 62 Assessment of the application
Entered into force
Article 63 Assessment of the application - Status of the counterparties
Entered into force
Article 64 Assessment of the application - Recoverability of the funds
Entered into force
Article 65 Assessment of the application - Information on the outcome of past calls
Entered into force
Article 66 Specification of amount relating to an unlimited amount of ancillary own funds
Entered into force
Article 67 Specification of amount and timing relating to the approval of a method
Subsection 2 Own funds treatment of participations (s. 68)
Amended
Article 68 Treatment of participations in the determination of basic own funds
Section 2 Classification of own funds (arts. 69-79)
Entered into force
Article 69 Tier 1 - List of own-fund items
Entered into force
Article 70 Reconciliation Reserve
Amended
Article 71 Tier 1 - Features determining classification
Entered into force
Article 72 Tier 2 Basic own-funds - List of own-fund items
Amended
Article 73 Tier 2 Basic own-funds - Features determining classification
Entered into force
Article 74 Tier 2 Ancillary own-funds - List of own-fund items
Entered into force
Article 75 Tier 2 Ancillary own-funds - Features determining classification
Entered into force
Article 76 Tier 3 Basic own-funds - List of own-fund items
Amended
Article 77 Tier 3 Basic own-funds - Features determining classification
Entered into force
Article 78 Tier 3 Ancillary own-funds - List of own-funds items
Entered into force
Article 79 Supervisory Authorities approval of the assessment and classification of own-fund items
Section 3 Eligibility of own funds (arts. 80-82)
Subsection 1 Ring-fenced funds (arts. 80-81)
Entered into force
Article 80 Ring-fenced funds requiring adjustments
Entered into force
Article 81 Adjustment for ring-fenced funds and matching adjustment portfolios
Subsection 2 Quantitative limits (art. 82)
Entered into force
Article 82 Eligibility and limits applicable to Tiers 1, 2 and 3
Chapter V Solvency Capital Requirement Standard Formula (arts. 83-221)
Section 1 General provisions (arts. 83-113)
Subsection 1 Scenario based calculations (art. 83)
Entered into force
Article 83
Subsection 2 Look-through approach (art. 84)
Amended
Article 84
Subsection 3 Regional governments and local authorities (art. 85)
Entered into force
Article 85
Subsection 4 Material basis risk (art. 86)
Entered into force
Article 86
Subsection 5 Calculation of the basic solvency capital requirement (art. 87)
Entered into force
Article 87
Subsection 6 Proportionality and simplifications (arts. 88-112)
Amended
Article 88 Proportionality
Entered into force
Article 89 General provisions for simplifications for captives
Entered into force
Article 90 Simplified calculation for captive insurance and reinsurance undertakings of the capital requirement for non-life premium and reserve risk
Inserted
Article 90a Simplified calculation for discontinuance of insurance policies in the non-life lapse risk sub-module
Inserted
Article 90b Simplified calculation of the sum insured for natural catastrophe risks
Inserted
Article 90c Simplified calculation of the capital requirement for fire risk
Amended
Article 91 Simplified calculation of the capital requirement for life mortality risk
Entered into force
Article 92 Simplified calculation of the capital requirement for life longevity risk
Entered into force
Article 93 Simplified calculation of the capital requirement for life disability-morbidity risk
Entered into force
Article 94 Simplified calculation of the capital requirement for life-expense risk
Entered into force
Article 95 Simplified calculation of the capital requirement for permanent changes in lapse rates
Inserted
Article 95a Simplified calculation of the capital requirement for risks in the life lapse risk sub-module
Entered into force
Article 96 Simplified calculation of the capital requirement for life-catastrophe risk
Inserted
Article 96a Simplified calculation for discontinuance of insurance policies in the NSLT health lapse risk sub-module
Amended
Article 97 Simplified calculation of the capital requirement for health mortality risk
Entered into force
Article 98 Simplified calculation of the capital requirement for health longevity risk
Entered into force
Article 99 Simplified calculation of the capital requirement for medical expense disability-morbidity risk
Entered into force
Article 100 Simplified calculation of the capital requirement for income protection disability-morbidity risk
Entered into force
Article 101 Simplified calculation of the capital requirement for health expense risk
Entered into force
Article 102 Simplified calculation of the capital requirement for SLT health lapse risk
Inserted
Article 102a Simplified calculation of the capital requirement for risks in the SLT health lapse risk sub-module
Entered into force
Article 103 Simplified calculation of the capital requirement for interest rate risk for captive insurance or reinsurance undertakings
Entered into force
Article 104 Simplified calculation for spread risk on bonds and loans
Entered into force
Article 105 Simplified calculation for captive insurance or reinsurance undertakings of the capital requirement for spread risk on bonds and loans
Inserted
Article 105a Simplified calculation for the risk factor in the spread risk sub-module and the market risk concentration sub-module
Entered into force
Article 106 Simplified calculation of the capital requirement for market risk concentration for captive insurance or reinsurance undertakings
Amended
Article 107 Simplified calculation of the risk mitigating effect for reinsurance arrangements or securitisation
Amended
Article 108 Simplified calculation of the risk mitigating effect for proportional reinsurance arrangements
Entered into force
Article 109 Simplified calculations for pooling arrangements
Amended
Article 110 Simplified calculation - grouping of single name exposures
Amended
Article 111 Simplified calculation of the risk mitigating effect
Inserted
Article 111a Simplified calculation of the risk-mitigating effect on underwriting risk
Entered into force
Article 112 Simplified calculation of the risk adjusted value of collateral to take into account the economic effect of the collateral
Inserted
Article 112a Simplified calculation of the loss-given-default for reinsurance
Inserted
Article 112b Simplified calculation of the capital requirement for counterparty default risk on type 1 exposures
Subsection 7 Scope of the under writing risk modules (art. 113)
Entered into force
Article 113
Section 2 Non-life underwriting risk module (arts. 114-135)
Entered into force
Article 114 Non-life underwriting risk module
Entered into force
Article 115 Non-life premium and reserve risk sub-module
Amended
Article 116 Volume measure for non-life premium and reserve risk
Entered into force
Article 117 Standard deviation for non-life premium and reserve risk
Entered into force
Article 118 Non-life lapse risk sub-module
Entered into force
Article 119 Non-life catastrophe risk sub-module
Entered into force
Article 120 Natural catastrophe risk sub-module
Amended
Article 121 Windstorm risk sub-module
Amended
Article 122 Earthquake risk sub-module
Amended
Article 123 Flood risk sub-module
Amended
Article 124 Hail risk sub-module
Amended
Article 125 Subsidence risk sub-module
Entered into force
Article 126 Interpretation of catastrophe scenarios
Entered into force
Article 127 Sub-module for catastrophe risk of non-proportional property reinsurance
Entered into force
Article 128 Man-made catastrophe risk sub-module
Entered into force
Article 129 Motor vehicle liability risk sub-module
Amended
Article 130 Marine risk sub-module
Amended
Article 131 Aviation risk sub-module
Amended
Article 132 Fire risk sub-module
Entered into force
Article 133 Liability risk sub-module
Entered into force
Article 134 Credit and suretyship risk sub-module
Entered into force
Article 135 Sub-module for other non-life catastrophe risk
Section 3 Life underwriting risk module (arts. 136-143)
Entered into force
Article 136 Correlation coefficients
Entered into force
Article 137 Mortality risk sub-module
Entered into force
Article 138 Longevity risk sub-module
Entered into force
Article 139 Disability-morbidity risk sub-module
Entered into force
Article 140 Life-expense risk sub-module
Entered into force
Article 141 Revision risk sub-module
Entered into force
Article 142 Lapse risk sub-module
Entered into force
Article 143 Life-catastrophe risk sub-module
Section 4 Health underwriting risk module (arts. 144-163)
Entered into force
Article 144 Health underwriting risk module
Entered into force
Article 145 NSLT health underwriting risk sub-module
Entered into force
Article 146 NSLT health premium and reserve risk sub-module
Amended
Article 147 Volume measure for NSLT health premium and reserve risk
Entered into force
Article 148 Standard deviation for NSLT health premium and reserve risk
Entered into force
Article 149 Health risk equalisation systems
Entered into force
Article 150 NSLT health lapse risk sub-module
Entered into force
Article 151 SLT health underwriting risk sub-module
Entered into force
Article 152 Health mortality risk sub-module
Entered into force
Article 153 Health longevity risk sub-module
Entered into force
Article 154 Health disability-morbidity risk sub-module
Entered into force
Article 155 Capital requirement for medical expense disability-morbidity risk
Entered into force
Article 156 Capital requirement for income protection disability-morbidity risk
Entered into force
Article 157 Health expense risk sub-module
Entered into force
Article 158 Health revision risk sub-module
Entered into force
Article 159 SLT health lapse risk sub-module
Entered into force
Article 160 Health catastrophe risk sub-module
Entered into force
Article 161 Mass accident risk sub-module
Entered into force
Article 162 Accident concentration risk sub-module
Entered into force
Article 163 Pandemic risk sub-module
Section 5 Market risk module (arts. 164-188)
Subsection 1 Correlation coefficients (art. 164)
Entered into force
Article 164
Subsection 1a Qualifying infrastructure investments (arts. 164a-164b)
Amended
Article 164a Qualifying infrastructure investments
Inserted
Article 164b Qualifying infrastructure corporate investments
Subsection 2 Interest rate risk sub-module (arts. 165-167)
Entered into force
Article 165 General provisions
Entered into force
Article 166 Increase in the term structure of interest rates
Entered into force
Article 167 Decrease in the term structure of interest rates
Subsection 3 Equity risk sub-module (arts. 168-173)
Amended
Article 168 General provisions
Inserted
Article 168a Qualifying unlisted equity portfolios
Amended
Article 169 Standard equity risk sub-module
Amended
Article 170 Duration-based equity risk sub-module
Amended
Article 171 Strategic equity investments
Inserted
Article 171a Long-term equity investments
Entered into force
Article 172 Symmetric adjustment of the equity capital charge
Amended
Article 173 Criteria for the use of transitional measure for standard equity risk
Subsection 4 Proper ty risk sub-module (art. 174)
Entered into force
Article 174
Subsection 5 Spread risk sub-module (arts. 175-181)
Entered into force
Article 175 Scope of the spread risk sub-module
Amended
Article 176 Spread risk on bonds and loans
Inserted
Article 176a Internal assessment of credit quality steps of bonds and loans
Inserted
Article 176b Requirements for an undertaking's own internal credit assessment of bonds and loans
Inserted
Article 176c Assessment of credit quality steps of bonds and loans based on an approved internal model
Deleted
Article 177 Spread risk on securitisation positions: general provisions
Amended
Article 178 Spread risk on securitisation positions: calculation of the capital requirement
Inserted
Article 178a Spread risk on securitisation positions: transitional provisions
Amended
Article 179 Spread risk on credit derivatives
Amended
Article 180 Specific exposures
Amended
Article 181 Application of the spread risk scenarios to matching adjustment portfolios
Subsection 6 Market risk concentrations sub-module (arts. 182-187)
Amended
Article 182 Single name exposure
Entered into force
Article 183 Calculation of the capital requirement for market risk concentration
Amended
Article 184 Excess exposure
Entered into force
Article 185 Relative excess exposure thresholds
Amended
Article 186 Risk factor for market risk concentration
Amended
Article 187 Specific exposures
Subsection 7 Currency risk sub-module (art. 188)
Entered into force
Article 188
Section 6 Counterparty default risk module (arts. 189-202)
Subsection 1 General provisions (arts. 189-198)
Amended
Article 189 Scope
Entered into force
Article 190 Single name exposures
Entered into force
Article 191 Mortgage loans
Amended
Article 192 Loss-given-default
Inserted
Article 192a Exposure to clearing members
Entered into force
Article 193 Loss-given-default for pool exposures of type A
Entered into force
Article 194 Loss-given-default for pool exposures of type B
Entered into force
Article 195 Loss-given-default for pool exposures of type C
Amended
Article 196 Risk-mitigating effect
Amended
Article 197 Risk-adjusted value of collateral
Entered into force
Article 198 Risk-adjusted value of mortgage
Subsection 2 Type 1 exposures (arts. 199-201)
Amended
Article 199 Probability of default
Entered into force
Article 200 Type 1 exposures
Amended
Article 201 Variance of the loss distribution of type 1 exposures
Subsection 3 Type 2 exposures (art. 202)
Entered into force
Article 202 Type 2 exposures
Section 7 Intangible asset module (arts. 203)
Entered into force
Article 203
Section 8 Operational risk (art. 204)
Entered into force
Article 204
Section 9 Adjustment for the loss-absorbing capacity of technical provisions and deferred taxes (arts. 205-207)
Entered into force
Article 205 General provisions
Entered into force
Article 206 Adjustment for the loss-absorbing capacity of technical provisions
Amended
Article 207 Adjustment for the loss-absorbing capacity of deferred taxes
Section 10 Risk mitigation techniques (arts. 208-215)
Amended
Article 208 Methods and Assumptions
Amended
Article 209 Qualitative Criteria
Amended
Article 210 Effective Transfer of Risk
Amended
Article 211 Risk-Mitigation techniques using reinsurance contracts or special purpose vehicles
Amended
Article 212 Financial Risk-Mitigation techniques
Amended
Article 213 Status of the counterparties
Entered into force
Article 214 Collateral Arrangements
Entered into force
Article 215 Guarantees
Section 11 Ring fenced funds (arts. 216-217)
Entered into force
Article 216 Calculation of the Solvency Capital Requirement in the case of ring-fenced funds and matching adjustment portfolios
Entered into force
Article 217 Solvency Capital Requirement calculation method for ring-fenced funds and matching adjustment portfolios
Section 12 Undertaking-specific parameters (arts. 218-220)
Amended
Article 218 Subset of standard parameters that may be replaced by undertaking-specific parameters
Entered into force
Article 219 Data criteria
Amended
Article 220 Standardised methods to calculate the undertaking-specific parameters
Section 13 Procedure for updating correlation parameters (art. 221)
Entered into force
Article 221
Chapter VI Solvency capital requirement - full and partial internal models (arts. 222-247)
Section 1 Definitions (art. 222)
Entered into force
Article 222 Materiality
Section 2 Use test (arts. 223-227)
Entered into force
Article 223 Use of the internal model
Entered into force
Article 224 Fit to the business
Entered into force
Article 225 Understanding of the internal model
Entered into force
Article 226 Support of decision-making and integration with risk management
Entered into force
Article 227 Simplified calculation
Section 3 Statistical quality standards (arts. 228-237)
Entered into force
Article 228 Probability distribution forecast
Entered into force
Article 229 Adequate, applicable and relevant actuarial techniques
Entered into force
Article 230 Information and assumptions used for the calculation of the probability distribution forecast
Entered into force
Article 231 Data used in the internal model
Entered into force
Article 232 Ability to rank risk
Entered into force
Article 233 Coverage of all material risks
Entered into force
Article 234 Diversification effects
Entered into force
Article 235 Risk-mitigation techniques
Entered into force
Article 236 Future management actions
Entered into force
Article 237 Understanding of external models and data
Section 4 Calibration standards (art. 238)
Entered into force
Article 238
Section 5 Integration of partial internal models (art. 239)
Entered into force
Article 239
Section 6 Profit and loss attribution (art. 240)
Entered into force
Article 240
Section 7 Validation standards (arts. 241-242)
Entered into force
Article 241 Model validation process
Entered into force
Article 242 Validation tools
Section 8 Documentation standards (arts. 243-246)
Entered into force
Article 243 General provisions
Entered into force
Article 244 Minimum content of the documentation
Entered into force
Article 245 Circumstances under which the internal model does not work effectively
Entered into force
Article 246 Changes to the internal model
Section 9 External models and data (art. 247)
Entered into force
Article 247
Chapter VII Minimum capital requirement (arts. 248-253)
Entered into force
Article 248 Minimum Capital Requirement
Entered into force
Article 249 Linear Minimum Capital Requirement
Entered into force
Article 250 Linear formula component for non-life insurance and reinsurance obligations
Entered into force
Article 251 Linear formula component for life insurance and reinsurance obligations
Entered into force
Article 252 Minimum Capital Requirement: composite insurance undertakings
Entered into force
Article 253 Absolute floor of the Minimum Capital Requirement
Chapter VIII Investment in securitisation positions (arts. 254-257)
Deleted
Article 254 Risk retention requirements relating to the originators, sponsors or original lenders
Deleted
Article 255 Exemptions to risk retention requirements
Deleted
Article 256 Qualitative requirements relating to insurance and reinsurance undertakings
Amended
Article 257 Requirements for investments in securitisation that no longer comply with the risk-retention and qualitative requirements
Chapter IX System of governance (arts. 258-275a)
Section 1 Elements of the system of governance (arts. 258-267)
Entered into force
Article 258 General governance requirements
Entered into force
Article 259 Risk Management System
Amended
Article 260 Risk management areas
Entered into force
Article 261 Risk management in undertakings providing loans and/or mortgage insurance or reinsurance
Amended
Article 261a Risk management for qualifying infrastructure investments or qualifying infrastructure corporate investments
Entered into force
Article 262 Overall solvency needs
Entered into force
Article 263 Alternative methods for valuation
Entered into force
Article 264 Valuation of technical provisions - validation
Entered into force
Article 265 Valuation of technical provisions - documentation
Entered into force
Article 266 Internal control system
Entered into force
Article 267 Internal control of valuation of assets and liabilities
Section 2 Functions (arts. 268-272)
Entered into force
Article 268 Specific provisions
Amended
Article 269 Risk management function
Entered into force
Article 270 Compliance function
Entered into force
Article 271 Internal audit function
In force
Article 272 Actuarial function
Section 3 Fit and proper requirements (art. 273)
Entered into force
Article 273
Section 4 Outsourcing (art. 274)
Entered into force
Article 274
Section 5 Remuneration policy (art. 275)
Amended
Article 275
Section 6 Investments (art. 275a)
Inserted
Article 275a Integration of sustainability risks in the prudent person principle
Chapter X Capital add-on (arts. 276-287)
Section 1 Circumstances for imposing a capital add-on (arts. 276-281)
Entered into force
Article 276 Assessment of a significant deviation as regards the SCR
Entered into force
Article 277 Assessment of a significant deviation as regards the governance
Entered into force
Article 278 Assessment of a significant deviation as regards adjustments to the relevant risk-free rate and transitional measures
Entered into force
Article 279 Add-ons in relation to deviations from Solvency Capital Requirement assumptions
Entered into force
Article 280 Assessment of the requirement to use an internal model
Entered into force
Article 281 Appropriate timeframe for adapting the internal model
Section 2 Methodologies for calculating capital add-ons (arts. 282-287)
Entered into force
Article 282 Calculation of add-ons in relation to deviations from SCR assumptions
Entered into force
Article 283 Scope and approach of modifications as regards a deviation from SCR assumptions
Entered into force
Article 284 Calculation of add-ons in relation to adjustments to the relevant risk-free rate or transitional measures
Entered into force
Article 285 Scope and approach of modifications as regards adjustments to the relevant risk-free rate and transitional measures
Entered into force
Article 286 Calculation of add-ons in relation to deviations from governance standards
Entered into force
Article 287 Apportionment of add-ons for undertakings which simultaneously pursue life and non-life insurance activities
Chapter XI Extension of the recovery period (arts. 288-289)
Entered into force
Article 288 Assessment of exceptional adverse situations
Entered into force
Article 289 Factors and criteria to determine the extension of the recovery period
Chapter XII Public disclosure (arts. 290-303)
Section 1 Solvency and financial condition report: structure and contents (arts. 290-298)
Entered into force
Article 290 Structure
Entered into force
Article 291 Materiality
Entered into force
Article 292 Summary
Entered into force
Article 293 Business and performance
Entered into force
Article 294 System of governance
Entered into force
Article 295 Risk profile
Amended
Article 296 Valuation for solvency purposes
Amended
Article 297 Capital management
Entered into force
Article 298 Additional voluntary information
Section 2 Solvency and financial condition report: non-disclosure of information (art. 299)
Entered into force
Article 299
Section 3 Solvency and financial condition report: deadlines, means of disclosure and updates (arts. 300-303)
Entered into force
Article 300 Deadlines
Entered into force
Article 301 Means of disclosure
Entered into force
Article 302 Updates
Entered into force
Article 303 Transitional arrangements on comparative information
Chapter XIII Regular supervisory reporting (arts. 304-314)
Section 1 Elements and contents (arts. 304-311)
Entered into force
Article 304 Elements of the regular supervisory reporting
Entered into force
Article 305 Materiality
Entered into force
Article 306 Own-risk and solvency assessment supervisory report
Entered into force
Article 307 Business and performance
Entered into force
Article 308 System of governance
Entered into force
Article 309 Risk profile
Entered into force
Article 310 Valuation for solvency purposes
Amended
Article 311 Capital management
Section 2 Deadlines and means of communication (arts. 312-314)
Entered into force
Article 312 Deadlines
Entered into force
Article 313 Means of communication
Entered into force
Article 314 Transitional information requirements
Chapter XIV Transparency and accountability of supervisory Authorities (arts. 315-317)
Entered into force
Article 315 Confidential information
Amended
Article 316 Aggregate statistical data
Amended
Article 317 Means of disclosure
Chapter XV Special puropose vehicles (arts. 318-327)
Section 1 Authorization (art. 318)
Entered into force
Article 318
Section 2 Mandatory contract conditions (arts. 319-321)
Entered into force
Article 319 Fully Funded
Entered into force
Article 320 Effective transfer of risk
Entered into force
Article 321 Rights of the providers of debt or financing mechanisms
Section 3 System of governance (arts. 322-324)
Entered into force
Article 322 Fit and proper requirements of persons who effectively run a special purpose vehicle
Entered into force
Article 323 Fit and proper requirements for shareholders or members with a qualifying holding
Entered into force
Article 324 Sound administrative and accounting procedures, adequate internal control mechanisms and risk-management requirements
Section 4 Supervisory reporting (art. 325)
Entered into force
Article 325 Supervisory reporting
Section 5 Solvency requirements (arts. 326-327)
Amended
Article 326 Solvency requirements
Entered into force
Article 327 Solvency requirements on investments
Title II Insurance groups (arts. 328-377)
Chapter I Solvency calculation at group level (arts. 328-342)
Section 1 Group solvency: choice of calculation method and general principles (arts. 328-330)
Entered into force
Article 328 Choice of method
Entered into force
Article 329 Treatment of specific related undertakings
Amended
Article 330 Availability at group level of the eligible own funds of related undertakings
Section 2 Group solvency: calculation methods (arts. 331-342)
Entered into force
Article 331 Classification of own-fund items of related insurance and reinsurance undertakings at group level
Entered into force
Article 332 Classification of own-fund items of related third-country insurance or reinsurance undertakings at group level
Entered into force
Article 333 Classification of own-fund items of insurance holding companies, mixed financial holding companies, and subsidiary ancillary services undertakings at group level
Entered into force
Article 334 Classification of own-fund items of residual related undertakings
Amended
Article 335 Method 1: determination of consolidated data
Amended
Article 336 Method 1: Calculation of the consolidated group Solvency Capital Requirement
Amended
Article 337 Method 1: determination of the local currency for the purposes of the currency risk calculation
Entered into force
Article 338 Method 1: group-specific parameters
Entered into force
Article 339 Method 1: best estimate
Entered into force
Article 340 Method 1: Risk margin
Entered into force
Article 341 Combination of methods 1 and 2: minimum consolidated group Solvency Capital Requirement
Entered into force
Article 342 Method 2: Elimination of intra-group creation of capital in relation to the best estimate
Chapter II Internal models for the calculation of the consolidated group Solvency Capital Requirement (arts. 343-350)
Section 1 Full and partial internal models used to calculate only the group solvency capital requirement (arts. 343-346)
Entered into force
Article 343 Application for the use of an internal model to calculate only the consolidated group Solvency Capital Requirement
Entered into force
Article 344 Assessment of the application for the use of an internal model to calculate only the consolidated group Solvency Capital Requirement
Entered into force
Article 345 Decision on the application and transitional plan to extend the scope of a partial internal model used to calculate only the consolidated group Solvency Capital Requirement
Entered into force
Article 346 Use test for internal models used to calculate only the consolidated group Solvency Capital Requirement
Section 2 Use of a group internal model (arts. 347-350)
Entered into force
Article 347 Application to use a group internal model
Entered into force
Article 348 Assessment of the completeness of an application to use a group internal model
Entered into force
Article 349 Joint decision on the application and transitional plan to extend the scope of the model
Entered into force
Article 350 Use test for group internal models
Chapter III Supervision of group solvency for groups with centralised risk management (arts. 351-353)
Entered into force
Article 351 Assessment of conditions: criteria
Entered into force
Article 352 Assessment of conditions: procedures
Entered into force
Article 353 Assessment of an emergency situation: criteria
Chapter IV Coordination of group supervision (arts. 354-358)
Section 1 Colleges of supervisors (arts. 354-356)
Entered into force
Article 354 Participation of supervisors of significant branches and related undertakings
Entered into force
Article 355 Coordination arrangements
Entered into force
Article 356 Supervisory approval of group-specific parameters
Section 2 Exchange of information (art. 357)
Entered into force
Article 357 Information to be exchanged on a systematic basis
Section 3 National or regional subgroup supervision (art. 358)
Entered into force
Article 358
Chapter V Public disclosure (arts. 359-371)
Section 1 Group solvency and financial condition report (arts. 359-364)
Entered into force
Article 359 Structure and contents
Entered into force
Article 360 Languages
Entered into force
Article 361 Non-disclosure of information
Entered into force
Article 362 Deadlines
Entered into force
Article 363 Updates
Entered into force
Article 364 Transitional arrangements on comparative information
Section 2 Single solvency and financial condition report (arts. 365-371)
Entered into force
Article 365 Structure and contents
Entered into force
Article 366 Languages
Entered into force
Article 367 Non-disclosure of information
Entered into force
Article 368 Deadlines
Entered into force
Article 369 Updates
Entered into force
Article 370 Reference
Entered into force
Article 371 Transitional arrangements on comparative information
Chapter VI Group supervisory reporting (arts. 372-377)
Section 1 Regular reporting (arts. 372-375)
Entered into force
Article 372 Elements and contents
Entered into force
Article 373 Deadlines
Entered into force
Article 374 Languages
Amended
Article 375 Additional transitional information on groups
Section 2 Reporting on risk concentrations and intragroup transactions (arts. 376-377)
Entered into force
Article 376 Significant risk concentrations (definition, identification and thresholds)
Entered into force
Article 377 Significant intragroup transactions (definition, identification)
Title III Third country eequivalence and final provisions (arts. 378-381)
Chapter I Undertakings carrying out reinsurance activities with their head office in a third country (art. 378)
Entered into force
Article 378 Criteria for assessing third country equivalence
Chapter II Related third country insurance and reinsurance undertakings (art. 379)
Entered into force
Article 379 Criteria for assessing third country equivalence
Chapter III Insurance and reinsurance undertakings with the parent undertakings outside the Union (art. 380)
Entered into force
Article 380 Criteria for assessing third country equivalence
Chapter IV Final provisions (art. 381)
Entered into force
Article 381
Entered into force
Annex I Lines of business
Amended
Annex II Segmentation of non-life insurance and reinsurance obligations and standard deviations for the non-life premium and reserve risk sub-module
Amended
Annex III Factor for geographical diversification of premium and reserve risk
Entered into force
Annex IV Correlation matrix for non-life premium and reserve risk
Amended
Annex V Parameters for the Windstorm risk sub-module
Amended
Annex VI Parameters for the earthquake risk sub-module
Amended
Annex VII Parameters for the flood risk sub-module
Amended
Annex VIII Parameters for the hail risk sub-module
Amended
Annex IX The geographical division of regions set out in Annexex V-VIII into risk zones
Amended
Annex X Risk weights for catastrophe risk zones
Entered into force
Annex XI Liability risk groups, risk factors and correlation coefficients for the liability risk sub-module
Entered into force
Annex XII Groups of obligations and risk factors for the sub-module for other non-life catastrophe risk
Entered into force
Annex XIII List of regions for which natural catastrophe risk is not calculated based on premiums
Amended
Annex XIV Segmentation of NSLT health insurance and reinsurance obligations and standard deviations for the NSLT health premium and reserve risk sub-module
Entered into force
Annex XV Correlation matrix for NSLT health premium and reserve risk
Amended
Annex XVI Health catastrophe risk sub-module of the Solvency Capital Requirement standard formula
Amended
Annex XVII Method-specific data requirements and method specifications for undertaking-specific parameters of the standard formula
Amended
Annex XVIII Intergration techniques for partial internal models
Entered into force
Annex XIX MCR risk factors for non-life and health insurance or reinsurance obligations
Entered into force
Annex XX Structure of the solvency and financial condition report and regular Supervisory report
Amended
Annex XXI Aggregate statistical data
Amended
Annex XXII Correlation coefficients for windstorm risk
Amended
Annex XXIII Correlation coefficients for earthquake risk
Amended
Annex XXIV Correlation coefficients for flood risk
Amended
Annex XXV Correlation coefficients for hail risk
Entered into force
Annex XXVI Correlation coefficients for subsidence risk
Done at