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| | 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. 88-112b) |
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 |
