# 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) (recast) (Text with EEA relevance), Article 190: Community co-insurance operations

Extent: E+W+S+N.I.

1. This Section shall apply to Community co-insurance operations which shall be those co-insurance operations which relate to one or more risks classified under classes 3 to 16 of Part A of Annex I and which fulfil the following conditions:
(a) the risk is a large risk;
(b) the risk is covered by a single contract at an overall premium and for the same period by two or more insurance undertakings each for its own part as co-insurer, one of them being the leading insurance undertaking;
(c) the risk is situated within the Community;
(d) for the purpose of covering the risk, the leading insurance undertaking is treated as if it were the insurance undertaking covering the whole risk;
(e) at least one of the co-insurers participates in the contract through a head office or a branch established in a Member State other than that of the leading insurance undertaking;
(f) the leading insurance undertaking fully assumes the leader’s role in co-insurance practice and in particular determines the terms and conditions of insurance and rating.
2. Articles 147 to 152 shall apply only to the leading insurance undertaking.
3. Co-insurance operations which do not satisfy the conditions set out in paragraph 1 shall remain subject to the provisions of this Directive except those of this Section.

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/190 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-190
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.