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1998 on the supplementary supervision of insurance and reinsurance undertakings in an insurance or reinsurance group (repealed)

EU Directive 1998/78 · adopted 27 October 1998

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1998 on the supplementary supervision of insurance and reinsurance undertakings in an insurance or reinsurance group (repealed)

## Introductory text

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on the supplementary supervision of insurance and reinsurance undertakings in an insurance or reinsurance group (repealed)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

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## 2 Cases of application of supplementary supervision of insurance undertakings and reinsurance undertakings

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## 2a Level of application with regard to mixed financial holding companies

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## 3 Scope of supplementary supervision

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## 4 Competent authorities for exercising supplementary supervision

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## 5 Availability and quality of information

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## 6 Access to information

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## 7 Cooperation between competent authorities

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## 8 Intra-group transactions

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## 9 Adjusted solvency requirement

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## 10 Insurance holding companies, mixed financial holding companies, non-member-country insurance undertakings and non-member-country reinsurance undertakings

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## 10a Cooperation with third countries' competent authorities

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## 10b 

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## 11 Implementation

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## 12 Entry into force

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## 13 Addressees

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## Annex I: CALCULATION OF THE ADJUSTED SOLVENCY OF INSURANCE UNDERTAKINGS AND REINSURANCE UNDERTAKINGS

## 1 CHOICE OF CALCULATION METHOD AND GENERAL PRINCIPLES

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## 2 APPLICATION OF THE CALCULATION METHODS

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### Division 3: CALCULATION METHODS

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## Annex II: SUPPLEMENTARY SUPERVISION FOR INSURANCE AND REINSURANCE UNDERTAKINGS THAT ARE SUBSIDIARIES OF AN INSURANCE HOLDING COMPANY, A MIXED FINANCIAL HOLDING COMPANY, A NON-MEMBER-COUNTRY INSURANCE UNDERTAKING OR A NON-MEMBER-COUNTRY REINSURANCE UNDERTAKING

## 1 In the case of two or more insurance undertakings or reinsurance undertakings as referred to in Article 2(2) which are the subsidiaries of an insurance holding company, a mixed financial holding company, a non-member-country insurance undertaking or a non-member-country reinsurance undertaking and which are established in different Member States, the competent authorities shall ensure that the method described in this Annex is applied in a consistent manner.

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## 2 Member States may waive the calculation provided for in this Annex with regard to an insurance undertaking or a reinsurance undertaking:

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## 3 The competent authorities shall ensure that calculations analogous to those described in Annex I are carried out at the level of the insurance holding company, mixed financial holding company, non-member-country insurance undertaking or non-member-country reinsurance undertaking.

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## 4 Non-availability of the necessary information

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Source: https://www.legislation.gov.uk/eudr/1998/78 (the official version)
Page: https://openlegislation.uk/eu-directive-1998-78
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.