These Regulations give effect to those provisions of Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directive 98/78/EC and 2000/12/EC of the European Parliament and of the Council which specifically apply to non-life insurance undertakings.
They also incorporate the rules regarding the solvency margin requirements for life assurance undertakings set out in Directive 2002/13/EC of the European Parliament and of the Council of 5 March 2002.