OpenLegislation

Directive 2005/68/EC of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC (Text with EEA relevance) (repealed)

EU Directive 2005/68 · Adopted 16 November 2005 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Directive 2005/68/EC of the European Parliament and of the Council

of 16 November 2005

on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC

(Text with EEA relevance) (repealed)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations to the whole text

Textual amendments

F1

Repealed by Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Text with EEA relevance).

Contents

  1. Title I: SCOPE AND DEFINITIONS
  2. 1Scope Repealed
  3. 2Definitions Repealed
  4. Title II: THE TAKING-UP OF THE BUSINESS OF REINSURANCE AND AUTHORISATION OF THE REINSURANCE UNDERTAKING
  5. 3Principle of authorisation Repealed
  6. 4Scope of authorisation Repealed
  7. 5Form of the reinsurance undertaking Repealed
  8. 6Conditions Repealed
  9. 7Close links Repealed
  10. 8Head office of the reinsurance undertaking Repealed
  11. 9Policy conditions and scales of premiums Repealed
  12. 10Economic requirements of the market Repealed
  13. 11Scheme of operations Repealed
  14. 12Shareholders and members with qualifying holdings Repealed
  15. 13Refusal of authorisation Repealed
  16. 14Prior consultation with the competent authorities of other Member States Repealed
  17. Title III: CONDITIONS GOVERNING THE BUSINESS OF REINSURANCE
  18. Chapter 1: Principles and methods of financial supervision Repealed
  19. Competent authorities and general rules Repealed
  20. 15Competent authorities and object of supervision Repealed
  21. 16Supervision of branches established in another Member State Repealed
  22. 17Accounting, prudential and statistical information: supervisory powers Repealed
  23. 18Transfer of portfolio Repealed
  24. Qualifying holdings Repealed
  25. 19Acquisitions Repealed
  26. 19aAssessment Repealed
  27. 20Acquisitions by regulated financial undertakings Repealed
  28. 21Disposals Repealed
  29. 22Information to the competent authority by the reinsurance undertaking Repealed
  30. 23Qualifying holdings: powers of the competent authority Repealed
  31. Professional secrecy and exchanges of information Repealed
  32. 24Obligation Repealed
  33. 25Exchange of information between competent authorities of Member States Repealed
  34. 26Cooperation agreements with third countries Repealed
  35. 27Use of confidential information Repealed
  36. 28Exchange of information with other authorities Repealed
  37. 29Transmission of information to central banks and monetary authorities Repealed
  38. 30Disclosure of information to government administrations responsible for financial legislation Repealed
  39. Duties of auditors Repealed
  40. 31Duties of auditors Repealed
  41. Chapter 2: Rules relating to technical provisions Repealed
  42. 32Establishment of technical provisions Repealed
  43. 33Equalisation reserves Repealed
  44. 34Assets covering technical provisions Repealed
  45. Chapter 3: Rules relating to the solvency margin and to the guarantee fund Repealed
  46. Available solvency margin Repealed
  47. 35General rule Repealed
  48. 36Eligible items Repealed
  49. Required solvency margin Repealed
  50. 37Required solvency margin for non-life reinsurance activities Repealed
  51. 38Required solvency margin for life reassurance activities Repealed
  52. 39Required solvency margin for a reinsurance undertaking simultaneously conducting non-life and life reinsurance Repealed
  53. Guarantee fund Repealed
  54. 40Amount of the guarantee fund Repealed
  55. 41Review of the amount of the guarantee fund Repealed
  56. Chapter 4: Reinsurance undertakings in difficulty or in an irregular situation and withdrawal of authorisation Repealed
  57. 42Reinsurance undertakings in difficulty Repealed
  58. 43Financial recovery plan Repealed
  59. 44Withdrawal of authorisation Repealed
  60. Title IV: PROVISIONS RELATING TO FINITE REINSURANCE AND SPECIAL PURPOSE VEHICLES
  61. 45Finite reinsurance Repealed
  62. 46Special purpose vehicles Repealed
  63. Title V: PROVISIONS RELATING TO RIGHT OF ESTABLISHMENT AND FREEDOM TO PROVIDE SERVICES
  64. 47Reinsurance undertakings not complying with the legal provisions Repealed
  65. 48Winding-up Repealed
  66. Title VI: REINSURANCE UNDERTAKINGS WHOSE HEAD OFFICES ARE OUTSIDE THE COMMUNITY AND CONDUCTING REINSURANCE ACTIVITIES IN THE COMMUNITY
  67. 49Principle and conditions for conducting reinsurance business Repealed
  68. 50Agreements with third countries Repealed
  69. Title VII: SUBSIDIARIES OF PARENT UNDERTAKINGS GOVERNED BY THE LAWS OF A THIRD COUNTRY AND ACQUISITIONS OF HOLDINGS BY SUCH PARENT UNDERTAKINGS
  70. 51Information from Member States to the Commission Repealed
  71. 52Third country treatment of Community reinsurance undertakings Repealed
  72. Title VIII: OTHER PROVISIONS
  73. 53Right to apply to the courts Repealed
  74. 54Cooperation between the Member States and the Commission Repealed
  75. 55Committee procedure Repealed
  76. 56Implementing measures Repealed
  77. Title IX: AMENDMENTS TO EXISTING DIRECTIVES
  78. 57Amendments to Directive 73/239/EEC Repealed
  79. 58Amendments to Directive 92/49/EEC Repealed
  80. 59Amendments to Directive 98/78/EC Repealed
  81. 60Amendments to Directive 2002/83/EC Repealed
  82. Title X: TRANSITIONAL AND FINAL PROVISIONS
  83. 61Right acquired by existing reinsurance undertakings Repealed
  84. 62Reinsurance undertakings closing their activity Repealed
  85. 63Transitional period for Articles 57(3) and 60(6) Repealed
  86. 64Transposition Repealed
  87. 65Entry into force Repealed
  88. 66Addressees Repealed
  89. Annex IAnnex I Repealed
  90. Annex IIAnnex II Repealed

1ScopeF1

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2DefinitionsF1

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3Principle of authorisationF1

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4Scope of authorisationF1

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5Form of the reinsurance undertakingF1

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6ConditionsF1

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7Close linksF1

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8Head office of the reinsurance undertakingF1

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9Policy conditions and scales of premiumsF1

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10Economic requirements of the marketF1

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11Scheme of operationsF1

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12Shareholders and members with qualifying holdingsF1

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13Refusal of authorisationF1

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14Prior consultation with the competent authorities of other Member StatesF1

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15Competent authorities and object of supervisionF1

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16Supervision of branches established in another Member StateF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17Accounting, prudential and statistical information: supervisory powersF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18Transfer of portfolioF1

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19AcquisitionsF1

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19aAssessmentF1

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20Acquisitions by regulated financial undertakingsF1

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21DisposalsF1

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22Information to the competent authority by the reinsurance undertakingF1

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23Qualifying holdings: powers of the competent authorityF1

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24ObligationF1

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25Exchange of information between competent authorities of Member StatesF1

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26Cooperation agreements with third countriesF1

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27Use of confidential informationF1

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28Exchange of information with other authoritiesF1

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29Transmission of information to central banks and monetary authoritiesF1

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30Disclosure of information to government administrations responsible for financial legislationF1

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31Duties of auditorsF1

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32Establishment of technical provisionsF1

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33Equalisation reservesF1

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34Assets covering technical provisionsF1

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35General ruleF1

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36Eligible itemsF1

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37Required solvency margin for non-life reinsurance activitiesF1

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38Required solvency margin for life reassurance activitiesF1

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39Required solvency margin for a reinsurance undertaking simultaneously conducting non-life and life reinsuranceF1

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40Amount of the guarantee fundF1

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41Review of the amount of the guarantee fundF1

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42Reinsurance undertakings in difficultyF1

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43Financial recovery planF1

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44Withdrawal of authorisationF1

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45Finite reinsuranceF1

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46Special purpose vehiclesF1

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47Reinsurance undertakings not complying with the legal provisionsF1

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48Winding-upF1

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49Principle and conditions for conducting reinsurance businessF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

50Agreements with third countriesF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

51Information from Member States to the CommissionF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52Third country treatment of Community reinsurance undertakingsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

53Right to apply to the courtsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54Cooperation between the Member States and the CommissionF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

55Committee procedureF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

56Implementing measuresF1

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57Amendments to Directive 73/239/EECF1

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58Amendments to Directive 92/49/EECF1

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59Amendments to Directive 98/78/ECF1

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60Amendments to Directive 2002/83/ECF1

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61Right acquired by existing reinsurance undertakingsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

62Reinsurance undertakings closing their activityF1

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63Transitional period for Articles 57(3) and 60(6)F1

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64TranspositionF1

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65Entry into forceF1

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66AddresseesF1

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Annex IF1

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Annex IIF1

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