The Solvency ii
Directive
CHAPTER
II
FINANCIAL POSITION
SECTION 1 - GROUP
SOLVENCY
SUBSECTION 1 - GENERAL PROVISIONS
Article
216
Supervision of group solvency
1. Supervision of
the group solvency shall be exercised in accordance with paragraphs
2 and 3, Article 250 and Chapter III.
2. In the case referred
to in point (a) of Article 211(2), Member States shall require the
participating insurance or reinsurance undertakings to ensure that
eligible own funds are available in the group which are always
at
least equal to the group Solvency Capital Requirement as calculated
in accordance with Subsections 2, 3 and 4.
3. In the case
referred to in point (b) of Article 211(2), Member States shall
require insurance and reinsurance undertakings in a group to ensure
that eligible own funds are available in the group which are always
at least equal to the group Solvency Capital Requirement as
calculated in accordance with Subsection 5.
4. The
requirements referred to in paragraphs 2 and 3 shall be subject to
supervisory review by the group supervisor in accordance with
Chapter III. The provisions set out in Article 134 and in paragraphs
1, 2 and 3 of Article 136 shall apply by analogy.
4a. As soon
as the participating undertaking has observed and
informed the group
supervisor that the group Solvency Capital Requirement is no longer
complied with or that there is a risk of non-compliance in the
following three months, the group supervisor shall inform the other
supervisory authorities within the college, which shall analyse the
situation of the group.
Articles 217
Frequency of
calculation
1. The group supervisor shall ensure that the
calculations referred to in Article 216(2) and (3) are carried out
at least once a year, either by the participating insurance or
reinsurance undertakings or by the insurance holding
company.
The relevant data for and the results of that
calculation shall be submitted to the group supervisor by the
participating insurance or reinsurance undertaking, or, where the
group is not headed by an insurance or reinsurance undertaking, by
the insurance holding company or by the undertaking in the group
identified by the group supervisor after consultation with the other
supervisory authorities concerned and with the group itself.
2. Insurance and reinsurance undertakings and insurance
holding company shall monitor the group Solvency Capital Requirement
on an on-going basis. If the risk profile of the group deviates
significantly from the assumptions underlying the last reported
group Solvency Capital Requirement, the group Solvency Capital
Requirement shall be recalculated without delay and reported to the
group supervisor.
Where there is evidence to suggest that the
risk profile of the group has altered significantly since the date
on which the group Solvency Capital Requirement was last reported,
the group supervisor may require a recalculation of the group
Solvency Capital Requirement.
SUBSECTION 2 – CHOICE OF
CALCULATION METHOD AND GENERAL PRINCIPLES
Article
218
Choice of method
1. The calculation of the
solvency at the level of the group of the insurance and reinsurance
undertakings referred to in point (a) of Article 211(2) shall be
carried out in accordance with the technical principles and one of
the methods set out in Articles 219 to 231.
2. Member States
shall provide that the calculation of the solvency at the level of
the group of insurance and reinsurance undertakings referred to in
point (a) of Article 211(2) shall be carried out according to method
1 described in Subsection 4.
However, Member States shall
allow their supervisory authorities, where they assume the role of
group supervisor with regard to a particular group, to decide, after
consultation with the other supervisory authorities concerned and
the group itself, to apply to that group method 2 described in
Subsection 4 or a combination of methods 1 and 2, where the
exclusive application of method 1 would not be
appropriate.
Article 219
Inclusion of proportional
share
1. The calculation of the group solvency shall take
account of the proportional share held by the participating
undertaking in its related undertakings.
For the purposes of
the first subparagraph, the proportional share shall comprise either
of the following:
(a) where method 1 is used, the percentages
used for the establishment of the consolidated accounts;
(b)
where method 2 is used, the proportion of the subscribed capital
that is held, directly or indirectly, by the participating
undertaking.
However, regardless of the method used,
where
the related undertaking is a subsidiary undertaking and does not
have sufficient eligible own funds to cover its Solvency Capital
Requirement, the total solvency deficit of the subsidiary shall be
taken into account.
Where in the opinion of the supervisory
authorities, the responsibility of the parent undertaking owning a
share of the capital is strictly limited to that share of the
capital, the group supervisor may nevertheless allow for the
solvency deficit of the subsidiary undertaking to be taken into
account on a proportional basis.
2. The group supervisor
shall determine, after consultation with the other supervisory
authorities concerned and the group itself, the proportional share
which shall be taken into account in the following cases:
(a)
where there are no capital ties between some of the undertakings in
a group;
(b) where a supervisory authority has determined
that the holding, directly or indirectly, of voting rights or
capital in an undertaking qualifies as a participation because, in
its opinion, a significant influence is effectively exercised over
that undertaking;
(ba) where a supervisory authority has
determined that an undertaking is a parent undertaking of another
because, in the opinion of the supervisory authority, it effectively
exercises a dominant influence over that other
undertaking.
Article 220
Elimination of double use
of eligible own funds
1. The double use of own funds eligible
for the Solvency Capital Requirement among the different insurance
or reinsurance undertakings taken into account in that calculation
shall not be allowed.
For that purpose, when calculating the
group solvency and where the methods described in Subsection 4 do
not provide for it, the following amounts shall be
excluded:
(a) the value of any asset of the participating
insurance or reinsurance undertaking which represents the financing
of own funds eligible for the Solvency Capital Requirement of one of
its related insurance or reinsurance undertakings;
(b) the
value of any asset of a related insurance or reinsurance undertaking
of the participating insurance or reinsurance undertaking which
represents the financing of own funds eligible for the Solvency
Capital Requirement of that participating insurance or reinsurance
undertaking;
(c) the value of any asset of a related
insurance or reinsurance undertaking of the participating insurance
or reinsurance undertaking which represents the financing of own
funds eligible for the Solvency Capital Requirements of any other
related insurance or reinsurance undertaking of that participating
insurance or reinsurance undertaking.
2. Without prejudice to
paragraph 1, the following may only be included in the calculation
in so far as they are eligible for covering the Solvency Capital
Requirement of the related undertaking concerned:
(a) surplus
funds falling under Article 90(2) arising in a related life
insurance or reinsurance undertaking of the participating insurance
or reinsurance undertaking for which the group solvency is
calculated;
(b) any subscribed but not paid-up capital of a
related insurance or reinsurance undertaking of the participating
insurance or reinsurance undertaking for which the group solvency is
calculated.
However, the following shall in any case be
excluded from the calculation:
(a) any subscribed but not
paid-up capital which represents a potential obligation on the part
of the participating undertaking;
(b) any subscribed but not
paid-up capital of the participating insurance or reinsurance
undertaking which represents a potential obligation on the part of a
related insurance or reinsurance undertaking;
(c) any
subscribed but not paid-up capital of a related insurance or
reinsurance undertaking which represents a potential obligation on
the part of another related insurance or reinsurance undertaking of
the same participating insurance or reinsurance
undertaking.
3. If the supervisory authorities consider that
certain own funds eligible for the Solvency Capital Requirement of a
related insurance or reinsurance undertaking other than those
referred to in paragraph 2 cannot effectively be made available to
cover the Solvency Capital Requirement of the participating
insurance or reinsurance undertaking for which the group solvency is
calculated, those own funds may be included in the calculation only
in so far as they are eligible for covering the Solvency Capital
Requirement of the related undertaking.
4. The sum of the own
funds referred to in paragraphs 2 and 3 may not exceed the Solvency
Capital Requirement of the related insurance or reinsurance
undertaking.
5. Any eligible own funds of a related insurance
or reinsurance undertaking of the participating insurance or
reinsurance undertaking for which the group solvency is calculated
that are subject to prior authorisation from the supervisory
authority in accordance with Article 89 may only be included in the
calculation in so far as they have been duly authorised by the
supervisory authority responsible for the supervision of that
related undertaking.
Article 221
Elimination of
the intra-group creation of capital
1. When calculating group
solvency, no account shall be taken of any own funds eligible for
the solvency capital requirement arising out of reciprocal financing
between the participating insurance or reinsurance undertaking and
any of the following:
(a) a related undertaking;
(b)
a participating undertaking;
(c) another related undertaking
of any of its participating undertakings.
2. When calculating
group solvency, no account shall be taken of any own funds eligible
for the Solvency Capital Requirement of a related insurance or
reinsurance undertaking of the participating insurance or
reinsurance undertaking for which the group solvency is calculated
when the own funds concerned arise out of reciprocal financing with
any other related undertaking of that participating insurance or
reinsurance undertaking.
3. Reciprocal financing shall be
deemed to exist at least when an insurance or reinsurance
undertaking, or any of its related undertakings, holds shares in, or
makes loans to, another undertaking which, directly or indirectly,
holds own funds eligible for the Solvency Capital Requirement of the
first undertakings.
Article
222
Valuation
The value of the assets and liabilities
shall be assessed in accordance with Article
74.
SUBSECTION 3 – APPLICATION OF THE CALCULATION
METHODS
Article 223
Related insurance and reinsurance
undertakings
Where the insurance or reinsurance undertaking
has more than one related insurance or reinsurance undertaking, the
group solvency calculation shall be carried out by including each of
these related insurance or reinsurance undertakings.
Member
States may provide that where the related insurance or reinsurance
undertaking has its head office in a Member State other than that of
the insurance or reinsurance undertaking for which the group
solvency calculation is carried out, the calculation takes account,
in respect of the related undertaking, of the Solvency Capital
Requirement and the own funds eligible to satisfy that requirement
as laid down in that other Member State.
Article
224
Intermediate insurance holding companies
1. When
calculating the group solvency of an insurance or reinsurance
undertaking which holds a participation in a related insurance
undertaking, a related reinsurance undertaking, a third-country
insurance undertaking or a third-country reinsurance undertaking,
through an insurance holding company, the situation of such an
insurance holding company shall be taken into account.
For
the sole purpose of that calculation, the intermediate insurance
holding company shall be treated as if it were an insurance or
reinsurance undertaking subject to the rules laid down in Title I,
Chapter VI, Section 4, Subsections 1, 2 and 3 in respect of the
Solvency Capital Requirement and were subject to the same conditions
as are laid down in Title I, Chapter VI, Section 3, Subsections 1, 2
and 3, in respect of own funds eligible for the Solvency Capital
Requirement.
2. In cases where an intermediate insurance
holding company holds subordinated debt or other eligible own funds
subject to limitation in accordance with Article 98, they shall be
recognised as eligible own funds up to the amounts calculated by
application of the limits set out in Article 98 to the total
eligible own funds outstanding at group level as compared to the
Solvency Capital Requirement at group level.
Any eligible own
funds of an intermediate insurance holding company, which would
require prior authorisation from the supervisory authority in
accordance with Article 89 if they were held by an insurance or
reinsurance undertaking, may only be included in the calculation of
the group solvency in so far as they have been duly authorised by
the group supervisor.
Article 225
Related third-country insurance and reinsurance undertakings
1. When
calculating, in accordance with Article 231, the group solvency of
an insurance or reinsurance undertaking which is a participating
undertaking in a third-country insurance or reinsurance undertaking,
the latter shall, solely for the purposes of the calculation, be
treated as a related insurance or reinsurance
undertaking.
However, where the third-country in which that
undertaking has its head office makes it subject to authorisation
and imposes on it a solvency regime at least equivalent to that laid
down in Title I, Chapter VI, Member States may provide that the
calculation shall take into account, as regards that undertaking,
the Solvency Capital Requirement and the own funds eligible to
satisfy that requirement as laid down by the third-country
concerned.
2. The verification of whether the third-country
regime is at least equivalent shall be carried out by the group
supervisor, at the request of the participating undertaking or on
its own initiative.
In so doing, the group supervisor shall
consult the other supervisory authorities concerned and CEIOPS,
before taking a decision on equivalence.
2a. The Commission
may adopt implementing measures specifying the criteria to assess
whether the solvency regime in a third-country is equivalent to that
laid down in Title I, Chapter VI.
Those measures designed to
amend non-essential elements of this Directive by supplementing it
shall be adopted in accordance with the regulatory procedure with
scrutiny referred to in Article 304(3).
3. The Commission
may adopt, after consultation of the European Insurance and
Occupational Pensions Committee and in accordance with the procedure
referred to in Article 304(2), and taking into account the criteria
adopted in accordance with paragraph 3, a decision as to whether the
solvency regime in a third country is equivalent to that laid down
in Title I, Chapter VI.
These decisions shall be regularly
reviewed to take into account any changes to the solvency regime
laid down in Title I, Chapter VI, and to the solvency regime in the
third country.
4. When a decision adopted by the Commission
in accordance with paragraph 3a concludes as to the equivalence of
the solvency regime in a third country, paragraph 2 shall not
apply.
When a decision adopted by the Commission in
accordance with paragraph 3 concludes that the solvency regime in a
third country is not equivalent, the option referred to in the
second subparagraph of paragraph 1 to take into account the Solvency
Capital Requirement and eligible own funds as laid down by the third
country concerned shall not be applicable and the third-country
insurance or reinsurance undertaking shall be treated exclusively in
accordance with the first subparagraph of paragraph
1.
Article 226
Related credit institutions,
investment firms and financial institutions
When calculating
the group solvency of an insurance or reinsurance undertaking which
is a participating undertaking in a credit institution, investment
firm or financial institution, Member States shall allow their
participating insurance and reinsurance undertakings to apply
mutatis mutandis methods 1 or 2 set out in Annex I to Directive
2002/87/EC. However, method 1 set out in that Annex shall be applied
only if the group supervisor is satisfied as to the level of
integrated management and internal control regarding the entities
which would be included in the scope of consolidation. The method
chosen shall be applied in a consistent manner over
time.
Member States shall however allow their supervisory
authorities, where they assume the role of group supervisor with
regard to a particular group, to decide, at the request of the
participating undertaking or on their own initiative, to deduct any
participation as referred to in the first paragraph from the own
funds eligible for the group solvency of the participating
undertaking.
Article 227
Non-availability of the
necessary information
Where the information necessary for
calculating the group solvency of an insurance or reinsurance
undertaking, concerning a related undertaking with its head office
in a Member State or a third-country, is not available to the
supervisory authorities concerned, the book value of that
undertaking in the participating insurance or reinsurance
undertaking shall be deducted from the own funds eligible for the
group solvency.
In that case, the unrealised gains connected
with such participation shall not be recognised as own funds
eligible for the group solvency.
SUBSECTION 4 –
CALCULATION METHODS
Article 228
Method 1 (Default
method): Accounting consolidation-based method
1. The
calculation of the group solvency of the participating insurance or
reinsurance undertaking shall be carried out on the basis of the
consolidated accounts.
The group solvency of the
participating insurance or reinsurance undertaking
is the difference
between the following:
(a) the own funds eligible to cover
the Solvency Capital Requirement, calculated on the basis of
consolidated data;
(b) the Solvency Capital Requirement at
group level calculated on the basis of consolidated data.
The
rules laid down in Title I, Chapter VI, Section 3, Subsections 1, 2
and 3 and in Title I, Chapter VI, Section 4, Subsections 1, 2 and 3
shall apply for the calculation of the own funds eligible for the
Solvency Capital Requirement and of the Solvency Capital Requirement
at group level based on consolidated data.
2. The
Solvency
Capital Requirement at group level based on consolidated data
(consolidated group Solvency Capital Requirement) shall be
calculated on the basis of either the standard formula or an
approved internal model, in a manner consistent with the general
principles contained in Title I, Chapter VI, Section 4, Subsections
1 and 2 and Title I, Chapter VI, Section 4, Subsections 1 and
3.
The consolidated group Solvency Capital Requirement
shall
have as a minimum the sum of the following:
(a) the minimum
capital requirement (Minimum Capital Requirement) as referred to in
Article 127 of the participating insurance or reinsurance
undertaking;
(b) the proportional share of the Minimum
Capital Requirement of the related insurance and reinsurance
undertakings.
That minimum shall be covered by eligible basic
own funds as determined in Article 98(5).
For the purposes
of determining whether such eligible own funds qualify to cover the
minimum consolidated group Solvency Capital Requirement, the
principles set out in Articles 219 to 227 shall apply mutatis
mutandis. The provisions set out in paragraphs 1 and 2 of Article
137 shall apply by analogy.
Article 229
Group
internal model
1. In the case of an application for
permission to calculate the consolidated group Solvency Capital
Requirement, as well as the Solvency Capital Requirement of
insurance and reinsurance undertakings in the group, on the basis of
an internal model, submitted by an insurance or reinsurance
undertaking and its related undertakings, or jointly by the related
undertakings of an insurance holding company, the supervisory
authorities concerned shall cooperate to decide whether or not to
grant that permission and to determine the terms and conditions, if
any, to which such permission is subject.
An application as
referred to in the first subparagraph shall be submitted to the
group supervisor.
The group supervisor shall inform the other
supervisory authorities concerned without delay.
2. The
supervisory authorities concerned shall do everything within their
power to reach a joint decision on the application
within six months
from the date of receipt of the complete application by the group
supervisor.
The group supervisor shall forward the complete
application to the other supervisory authorities concerned without
delay.
3. During the period referred to in paragraph 2, the
group supervisor and any of the other supervisory authorities
concerned may consult the CEIOPS. The CEIOPS shall also be
consulted if the participating undertaking so requests.
When
the CEIOPS is consulted, all the supervisory authorities concerned
shall be informed and the period referred to in paragraph 2 shall be
extended by two months.
4. Where the CEIOPS has not been
consulted in accordance with paragraph 3, and in the absence of a
joint decision of the supervisory authorities concerned within six
months from the date of receipt of the complete application by the
group supervisor, the group supervisor shall request the CEIOPS,
within a further two months, to deliver advice to all the
supervisory authorities concerned.
The group supervisor shall take a
decision within three weeks of the transmission of that advice,
taking full account thereof.
Whether the CEIOPS has been
consulted or not, the group supervisor's decision shall be set out
in a document containing the full reasons for the decision and shall
take into account the views expressed by the other supervisory
authorities concerned.
The group supervisor shall provide its
decision to the applicant and the other supervisory authorities
concerned. The supervisory authorities concerned shall comply with
the decision.
5. In the absence of a joint decision within
the periods set out in paragraphs 2 and 3 respectively, the group
supervisor shall make its own decision on the application.
In
making its decision, the group supervisor shall duly take into
account the following:
(a) any views and reservations of the
other supervisory authorities concerned expressed during the
applicable period;
(b) where the CEIOPS has been consulted,
the advice of that Committee.
The decision shall be set out
in a document containing the fully reasoned decision and an
explanation of any significant deviation from the positions adopted
by the CEIOPS.
The group supervisor shall transmit the
decision to the applicant and the other supervisory authorities
concerned.
That decision shall be recognised as determinative
and applied by the supervisory authorities concerned.
6.
Where any of the supervisory authorities concerned considers that
the risk profile of an insurance or reinsurance undertaking under
its supervision deviates significantly from the assumptions
underlying the internal model approved at group level, and as long
as that undertaking has not properly addressed the concerns of the
supervisory authority, that authority may, in accordance with
Article 37, impose a capital add-on to the Solvency Capital
Requirement of that insurance or reinsurance undertaking resulting
from the application of such internal model.
In exceptional
circumstances, where such capital add-on would not be appropriate,
the supervisory authority may require the undertaking concerned to
calculate its Solvency Capital Requirement on the basis of the
standard formula referred to in Title I, Chapter VI, Section 4,
Subsections 1 and 2. In accordance with cases (a) and (c) of Article
37(1), the authority may impose a capital add-on to the Solvency
Capital Requirement of that insurance or reinsurance undertaking
resulting from the application of the standard formula.
The
supervisory authority shall explain any decision referred to in the
first and second subparagraphs to both the insurance or reinsurance
undertaking and the group supervisor.
Article
230
Group capital add-on
In determining whether the
consolidated group Solvency Capital Requirement appropriately
reflects the risk profile of the group, the group supervisor shall
pay particular attention to any case where the circumstances
referred to in points (a) to (c) of Article 37(1) may arise at group
level, in particular where:
(a) any specific risks existing
at group level would not be sufficiently covered by the standard
formula or the internal model used, because they are difficult to
quantify;
(b) any capital add-on to the Solvency Capital
Requirement of the related insurance or reinsurance undertakings is
imposed by the supervisory authorities concerned, in accordance with
Articles 37 and 229(6).
If the risk profile of the group is
not adequately reflected, a capital add-on to the consolidated group
Solvency Capital Requirement may be imposed.
The provisions
set out in Article 37 (1) to (5), together with implementing
measures taken in accordance with Article 37(6), shall apply mutatis
mutandis.
Article 231
Method 2 (Alternative
method): Deduction and aggregation method
1. The group
solvency of the participating insurance or reinsurance undertaking
shall be the difference between the following:
(a) the
aggregated group eligible own funds, as provided for in paragraph
2;
(b) the value in the participating insurance or
reinsurance undertaking of the related insurance or reinsurance
undertakings and the aggregated group Solvency Capital Requirement,
as provided for in paragraph 3.
2. The aggregated group
eligible own funds are the sum of the following:
(a) the own
funds eligible for the Solvency Capital Requirement of the
participating insurance or reinsurance undertaking;
(b) the
proportional share of the participating insurance or reinsurance
undertaking in the own funds eligible for the Solvency Capital
Requirement of the related insurance or reinsurance
undertakings.
3. The aggregated group Solvency Capital
Requirement is the sum of the following:
(a) the Solvency
Capital Requirement of the participating insurance or reinsurance
undertaking;
(b) the proportional share of the Solvency
Capital Requirement of the related insurance or reinsurance
undertakings.
4. Where the participation in the related
insurance or reinsurance undertakings consists, wholly or in part,
of an indirect ownership, the value in the participating insurance
or reinsurance undertaking of the related insurance or reinsurance
undertakings shall incorporate the value of such indirect ownership,
taking into account the relevant successive interests, and the items
referred to in points (b) of the second and third paragraphs shall
include the corresponding proportional shares of the own funds
eligible for the Solvency Capital Requirement of the related
insurance or reinsurance undertakings and of the Solvency Capital
Requirement of the related insurance or reinsurance undertakings,
respectively.
5. In the case of an application for permission
to calculate the Solvency Capital Requirement of insurance and
reinsurance undertakings in the group on the basis of an internal
model, submitted by an insurance or reinsurance undertaking and its
related undertakings, or jointly by the related undertakings of an
insurance holding company, Article 229 shall apply mutatis
mutandis.
6. In determining whether the aggregated group
Solvency Capital Requirement, calculated as set out in paragraph 3,
appropriately reflects the risk profile of the group, the
supervisory authorities concerned shall pay particular attention to
any specific risks existing at group level which would not be
sufficiently covered, because they are difficult to
quantify.
If the risk profile of the group deviates
significantly from the assumptions underlying the aggregated group
Solvency Capital Requirement, a capital add-on to the aggregated
group Solvency Capital Requirement may be imposed.
The
provisions set out in Article 37 (1) to (5), together with
implementing measures taken in accordance with Article 37(6), shall
apply mutatis mutandis.
Article 232
Implementing
measures
The Commission shall adopt implementing measures
specifying the technical principles and methods set out in Articles
218 to 227 and the application of Articles 228 to 231 to ensure
uniform application within the Community.
Those measures
designed to amend non-essential elements of this directive by
supplementing it shall be adopted in accordance with the regulatory
procedure with scrutiny referred to in Article
304(3).
SUBSECTION 5 – SUPERVISION OF GROUP SOLVENCY FOR
INSURANCE AND REINSURANCE UNDERTAKINGS THAT ARE SUBSIDIARIES OF AN
INSURANCE HOLDING COMPANY
Article 233
Group solvency
of an insurance holding company
Where insurance and
reinsurance undertakings are subsidiaries of an insurance holding
company, the group supervisor shall ensure that the calculation of
the solvency of the group is carried out at the level of the
insurance holding company applying Articles 218(2) to
231.
For the purpose of that calculation, the parent
undertaking shall be treated as if it were an insurance or
reinsurance undertaking subject to the rules laid down in Title I,
Chapter VI, Section 4, Subsections 1, 2 and 3 as regards the
Solvency Capital Requirement and subject to the same conditions as
laid down in Title I, Chapter VI, Section 3, Subsections 1, 2 and 3
as regards the own funds eligible for the Solvency Capital
Requirement.
  
Return to Index
Solvency ii Introduction (1) to (10)
Solvency ii Introduction (11) to (20)
Solvency ii Introduction (21) to (30)
Solvency ii Introduction (31) to (40)
Solvency ii Introduction (41) to (50)
Solvency ii Introduction (51) to (60)
Solvency ii Introduction (61) to (70)
Solvency ii Introduction (71) to (80)
Solvency ii Introduction (81) to (95)
Solvency ii Articles 1 to 10
Solvency ii Articles 11 to 20
Solvency ii Articles 21 to 30
Solvency ii Articles 31 to 39
Solvency ii Articles 40 to 49
Solvency ii Articles 50 to 62
Solvency ii Articles 63 to 71
Solvency ii Articles 72 to 85
Solvency ii Articles 86 to 99
Solvency ii Articles 100 to 125
Solvency ii Articles 126 to 142
Solvency ii Articles 143 to 159
Solvency ii Articles 160 to 173
Solvency ii Articles 174 to 203
Solvency ii Articles 204 to 215
Solvency ii Articles 216 to 233
Solvency ii Articles 234 to
262
Solvency ii Articles 263 to 298
Solvency ii Articles 300 to 313
Solvency ii ANNEX 1 to 3
Solvency ii ANNEX 4 to 5
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