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Directive 98/78/EC of the European Parliament and of the Council (repealed)Show full title

Directive 98/78/EC of the European Parliament and of the Council of 27 October 1998 on the supplementary supervision of insurance undertakings in an insurance group (repealed)

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  1. Introductory Text

  2. Article 1.Definitions

  3. Article 2.Cases of application of supplementary supervision of insurance undertakings

  4. Article 3.Scope of supplementary supervision

  5. Article 4.Competent authorities for exercising supplementary supervision

  6. Article 5.Availability and quality of information

  7. Article 6.Access to information

  8. Article 7.Cooperation between competent authorities

  9. Article 8.Intra-group transactions

  10. Article 9.Adjusted solvency requirement

  11. Article 10.Reinsurance undertakings, insurance holding companies and non-member-country insurance undertakings

  12. Article 10a. Cooperation with third countries' competent authorities

  13. Article 10b.The Member States shall require that persons who effectively direct...

  14. Article 11.Implementation

  15. Article 12.Entry into force

  16. Article 13.Addressees

    1. ANNEX I

      CALCULATION OF THE ADJUSTED SOLVENCY OF INSURANCE UNDERTAKINGS

      1. 1. CHOICE OF CALCULATION METHOD AND GENERAL PRINCIPLES

        1. A. Member States shall provide that the calculation of the adjusted...

        2. B. Proportionality

        3. C. Elimination of double use of solvency margin elements

          1. C.1. General treatment of solvency margin elements

          2. C.2. Treatment of certain elements

          3. C.3. Transferability

          4. C.4. The sum of the elements referred to in sections C.2...

        4. D. Elimination of the intra-group creation of capital

        5. E. The competent authorities shall ensure that the adjusted solvency is...

      2. 2. APPLICATION OF THE CALCULATION METHODS

        1. 2.1. Related insurance undertakings

        2. 2.2. Related reinsurance undertakings

        3. 2.3. Intermediate insurance holding companies

        4. 2.4. Related insurance or reinsurance undertakings having their registered office in...

          1. A. Related non-member country insurance undertakings

          2. B. Related non-member-country reinsurance undertakings

        5. 2.4a. Related credit institutions, investment firms and financial institutions

        6. 2.5. Non-availability of the necessary information

      3. 3. CALCULATION METHODS

        1. Method 1: Deduction and aggregation method

        2. Method 2: Requirement deduction method

        3. Method 3: Accounting consolidation-based method

    2. ANNEX II

      SUPPLEMENTARY SUPERVISION FOR INSURANCE UNDERTAKINGS THAT ARE SUBSIDIARIES OF AN INSURANCE HOLDING COMPANY, A REINSURANCE UNDERTAKING OR A NON-MEMBER-COUNTRY INSURANCE UNDERTAKING

      1. 1. In the case of two or more insurance undertakings referred...

      2. 2. Member States may waive the calculation provided for in this...

      3. 3. The competent authorities shall ensure that calculations analogous to those...

      4. 4. Non-availability of the necessary information

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