Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
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Article 73 Pursuit of life and non-life insurance activity

1. Insurance undertakings shall not be authorised to pursue life and non-life insurance activities simultaneously.

2. By way of derogation from paragraph 1, Member States may provide that:

(a) undertakings authorised to pursue life insurance activity may obtain authorisation for non-life insurance activities for the risks listed in classes 1 and 2 in Part A of Annex I;

(b) undertakings authorised solely for the risks listed in classes 1 and 2 in Part A of Annex I may obtain authorisation to pursue life insurance activity.

However, each activity shall be separately managed in accordance with Article 74.

3. Member States may provide that the undertakings referred to in paragraph 2 shall comply with the accounting rules governing life insurance undertakings for all of their activities. Pending coordination in this respect, Member States may also provide that, with regard to rules on winding-up, activities relating to the risks listed in classes 1 and 2 in Part A of Annex I pursued by thos