+Article 4 1.

Article 4 1.

Without prejudice to Article 3 and Articles 5 to 10, this Directive shall not apply to an insurance undertaking which fulfils all the following conditions:

(a) 

the undertaking’s annual gross written premium income does not exceed ►M10  EUR 5 400 000  ◄ ;

(b) 

the total of the undertaking’s technical provisions, gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, as referred to in Article 76, does not exceed ►M10  EUR 26 600 000  ◄ ;

(c) 

where the undertaking belongs to a group, the total of the technical provisions of the group defined as gross of the amounts recoverable from reinsurance contracts and special purpose vehicles does not exceed ►M10  EUR 26 600 000  ◄ ;

(d) 

the business of the undertaking does not include insurance or reinsurance activities covering liability, credit and suretyship insurance risks, unless they constitute ancillary risks within the meaning of Article 16(1);

(e) 

the business of the undertaking does not include reinsurance operations exceeding ►M10  EUR 600 000  ◄ of its gross written premium income or ►M10  EUR 2 700 000  ◄ of its technical provisions gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, or more than 10 % of its gross written premium income or more than 10 % of its technical provisions gross of the amounts recoverable from reinsurance contracts and special purpose vehicles.

1. Overview

,

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • Builddate: 17.01.2025 00:00:00 -Doknr: CELEX:32009L0138
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