Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
  Version 3 of 3    

Article 11 Reinsurance

In regard to reinsurance, this Directive shall not apply to the activity of reinsurance conducted or fully guaranteed by the government of a Member State when that government is acting, for reasons of substantial public interest, in the capacity of reinsurer of last resort, including in circumstances where such a role is required by a situation in the market in which it is not feasible to obtain adequate commercial cover.