Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
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Article 177 Third-country treatment of Community insurance and reinsurance undertakings

1. Member States shall inform the Commission and EIOPA of any general difficulties encountered by their insurance or reinsurance undertakings in establishing themselves and operating in a third country or pursuing activities in a third country.

2. The Commission shall, periodically, submit a report to the Council examining the treatment accorded, in third countries, to insurance or reinsurance undertakings authorised in the Community, as regards the following:

(a) the establishment in third countries of insurance or reinsurance undertakings authorised in the Community;

(b) the acquisition of holdings in third-country insurance or reinsurance undertakings;

(c) the pursuit of insurance or reinsurance activities by such established undertakings;

(d) the cross-border provision of insurance or reinsurance activities from the Community to third countries.

The Commission shall submit those reports to the Council, together with any appropriate proposals or recommendations.