Directive 2002/83/EC of the European Parliament and of the Council
of 5 November 2002
concerning life assurance
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE I

DEFINITIONS AND SCOPE

Definitions
Article 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Scope
Article 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Activities and bodies excluded
Article 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE II

THE TAKING UP OF THE BUSINESS OF LIFE ASSURANCE

Principle of authorisation
Article 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Scope of authorisation
Article 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Conditions for obtaining authorisation
Article 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Scheme of operations
Article 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Shareholders and members with qualifying holdings
Article 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Refusal of authorisation
Article 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Prior consultation with the competent authorities of other Member States
Article 9a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE III

CONDITIONS GOVERNING THE BUSINESS OF ASSURANCE
CHAPTER 1

PRINCIPLES AND METHODS OF FINANCIAL SUPERVISION

Competent authorities and object of supervision
Article 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Supervision of branches established in another Member State
Article 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Prohibition on compulsory ceding of part of underwriting
Article 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accounting, prudential and statistical information: supervisory powers
Article 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transfer of portfolio
Article 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Qualifying holdings
Article 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Assessment period
Article 15a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Assessment
Article 15b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Acquisitions by regulated financial undertakings
Article 15c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Professional secrecy
Article 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Duties of auditors
Article 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Pursuit of life assurance and non-life insurance activities
Article 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Separation of life assurance and non-life insurance management
Article 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 2

RULES RELATING TO TECHNICAL PROVISIONS AND THEIR REPRESENTATION

Establishment of technical provisions
Article 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Premiums for new business
Article 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Assets covering technical provisions
Article 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Categories of authorised assets
Article 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rules for investment diversification
Article 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Contracts linked to UCITS or share index
Article 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Matching rules
Article 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 3

RULES RELATING TO THE SOLVENCY MARGIN AND TO THE GUARANTEE FUND

Available solvency margin
Article 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Required solvency margin
Article 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Solvency margin for assurance undertakings conducting reinsurance activities
Article 28a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Guarantee fund
Article 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Review of the amount of the guarantee fund
Article 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Assets not used to cover technical provisions
Article 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 4

CONTRACT LAW AND CONDITIONS OF ASSURANCE

Law applicable
Article 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

General good
Article 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rules relating to conditions of assurance and scales of premiums
Article 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Cancellation period
Article 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information for policy holders
Article 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 5

ASSURANCE UNDERTAKINGS IN DIFFICULTY OR IN AN IRREGULAR SITUATION

Assurance undertakings in difficulty
Article 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Financial recovery plan
Article 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Withdrawal of authorisation
Article 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE IV

PROVISIONS RELATING TO RIGHT OF ESTABLISHMENT AND FREEDOM TO PROVIDE SERVICES

Conditions for branch establishment
Article 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Freedom to provide services: prior notification to the home Member State
Article 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Freedom to provide services: notification by the home Member State
Article 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Freedom to provide services: changes in the nature of commitments
Article 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Language
Article 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rules relating to conditions of assurance and scales of premiums
Article 45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Assurance undertakings not complying with the legal provisions
Article 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Advertising
Article 47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Winding-up
Article 48 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Statistical information on cross-border activities
Article 49 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Taxes on premiums
Article 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE V

RULES APPLICABLE TO AGENCIES OR BRANCHES ESTABLISHED WITHIN THE COMMUNITY AND BELONGING TO UNDERTAKINGS WHOSE HEAD OFFICES ARE OUTSIDE THE COMMUNITY

Principles and conditions of authorisation
Article 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rules applicable to branches of third-country undertakings
Article 52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transfer of portfolio
Article 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Technical provisions
Article 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Solvency margin and guarantee fund
Article 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Advantages to undertakings authorised in more than one Member State
Article 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Agreements with third countries
Article 57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE VI

RULES APPLICABLE TO SUBSIDIARIES OF PARENT UNDERTAKINGS GOVERNED BY THE LAWS OF A THIRD COUNTRY AND TO THE ACQUISITIONS OF HOLDINGS BY SUCH PARENT UNDERTAKINGS

Information from Member States to the Commission
Article 58 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Third-country treatment of Community assurance undertakings
Article 59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE VII

TRANSITIONAL AND OTHER PROVISIONS

Derogations and abolition of restrictive measures
Article 60 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Proof of good repute
Article 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TITLE VIII

FINAL PROVISIONS

Cooperation between the Member States and the Commission
Article 62 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reports on the development of the market under the freedom to provide services
Article 63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Technical adjustment
Article 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Committee procedure
Article 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rights acquired by existing branches and assurance undertakings
Article 66 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Right to apply to the courts
Article 67 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Review of amounts expressed in euro
Article 68 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Implementation of new provisions
Article 69 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information to the Commission
Article 70 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional period for Articles 3(6), 27, 28, 29, 30 and 38
Article 71 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Repealed directives and their correlation with this Directive
Article 72 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Entry into force
Article 73 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Addressees
Article 74 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX I
Classes of assurance
I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX II
Matching rules
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX III
Information for policy holders
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A.

Before concluding the contract
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.

During the term of the contract
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX IV
1.

Professional secrecy
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.

Activities and bodies excluded from this Directive
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.

Until 1 January 2004, Member States shall apply the following provisions:
A.

Solvency margin
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
B.

Minimum solvency margin
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C.

Guarantee fund
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX V
PART A

Repealed Directives together with their successive amendments (referred to in Article 72)

Council Directive 79/267/EEC
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Second Council Directive 90/619/EEC
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Third Council Directive 92/96/EEC
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
PART B

Deadlines for implementation

(Referred to in Article 72)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ANNEX VI
Repealed by Directive 2013/58/EU of the European Parliament and of the Council of 11 December 2013 amending Directive 2009/138/EC (Solvency II) as regards the date for its transposition and the date of its application, and the date of repeal of certain Directives (Solvency I) (Text with EEA relevance).