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Directive 2002/83/EC of the European Parliament and of the CouncilShow full title
Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 concerning life assurance
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Article 7Scheme of operations
The scheme of operations referred to in Article 6(1)(c) and (4) shall include particulars or evidence of:
(a)
the nature of the commitments which the assurance undertaking proposes to cover;
(b)
the guiding principles as to reassurance;
(c)
the items constituting the minimum guarantee fund;
(d)
estimates relating to the costs of setting up the administrative services and the organisation for securing business and the financial resources intended to meet those costs;
in addition, for the first three financial years:
(e)
a plan setting out detailed estimates of income and expenditure in respect of direct business, reassurance acceptances and reassurance cessions;
(f)
a forecast balance sheet;
(g)
estimates relating to the financial resources intended to cover underwriting liabilities and the solvency margin.
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