# 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 5: Operations

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

In regard to non-life insurance, this Directive shall not apply to the following operations:
(1) capital redemption operations, as defined by the law in each Member State;
(2) operations of provident and mutual benefit institutions whose benefits vary according to the resources available and in which the contributions of the members are determined on a flat-rate basis;
(3) operations carried out by organisations not having a legal personality with the purpose of providing mutual cover for their members without there being any payment of premiums or constitution of technical reserves; or
(4) export credit insurance operations for the account of or guaranteed by the State, or where the State is the insurer.

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/5 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.