The Solvency ii
Directive
TITLE
V
OTHER PROVISIONS
Article
300
Right to apply to the courts
Member States shall
ensure that decisions taken in respect of an insurance or a
reinsurance undertaking under laws, regulations and administrative
provisions implementing this Directive are subject to the right to
apply to the courts.
Article 301
Cooperation
between the Member States and the Commission
1. The Member
States shall cooperate with each other for the purpose of
facilitating the supervision of insurance and reinsurance within the
Community and the application of this Directive.
2. The
Commission and the supervisory authorities of the Member States
shall collaborate closely with each other for the purpose of
facilitating the supervision of insurance and reinsurance within the
Community and of examining any difficulties which may arise in the
application of this Directive.
3. Member States shall inform
the Commission of any major difficulties to which the application of
this Directive gives rise.
The Commission and the supervisory
authorities of the Member States concerned shall examine those
difficulties as quickly as possible in order to find an appropriate
solution.
Article 302
Euro
Where this
Directive makes reference to the Euro, the exchange value in
national currencies to be used with effect from 31 December of each
year shall be the value which applies on the last day of the
preceding October for which exchange values for the Euro are
available in all Community currencies.
Article
303
Review of amounts expressed in euro
The amounts
expressed in euro in this Directive shall be adapted every five
years, by increasing the base amount in euro by the percentage
change in the Harmonised Indices of Consumer Prices of all Member
States as published by Eurostat starting from 31 October 2012 until
the date of adaptation and rounded up to a multiple of EUR 100
000.
If the percentage change since the previous adaptation
is less than 5 %, the amounts will not be adapted.
The
Commission shall publish the adapted amounts in the Official Journal
of the European Union.
The adapted amounts shall be
implemented by Member States within 12 months of the publication in
the Official Journal of the European Union.
Article
304
Committee procedure
1. The Commission shall be
assisted by the European Insurance and Occupational Pensions
Committee established by Commission Decision 2004/9/EC of 5 November
2003 .
2. Where reference is made to this paragraph, Articles
5 and 7 of Decision 1999/468/EC shall apply, having regard to the
provisions of Article 8 thereof.
3. Where reference is made
to this paragraph, Articles 5a(1) to (4) of Decision 1999/468/EC
shall apply, having regard to the provisions of Article 8
thereof.
Article 305
Notifications submitted prior
to entry into force of the laws, regulations and administrative
provisions necessary to comply with Articles 56 to 62
The
assessment procedure applied to proposed acquisitions for which
notifications referred to in Article 56 have been submitted to the
competent authorities prior to the entry into force of the laws,
regulations and administrative provisions necessary to comply with
Articles 56 to 62, shall be carried out in accordance with the
national law of Member States in force at the time of
notification.
Article 305a
Amendments to Directive
2003/41/EC
1. Article 17(2) is replaced by the
following:
"For the purposes of calculating the minimum
amount of additional assets, the rules laid down in Articles 17a to
17d shall apply."
2. The following Articles 17a to 17d are
inserted:
"Article 17a
Available solvency
margin
1. Each Member State shall require of every
institution referred to in Article 17 (1) which is located in its
territory an adequate available solvency margin in respect of its
entire business at all times which is at least equal to the
requirements in this Directive.
2. The available solvency
margin shall consist of the assets of the institution free of any
foreseeable liabilities, less any intangible items, including:
(a) the paid-up share capital or, in the case of an
institution taking the form of a mutual undertaking, the effective
initial fund plus any accounts of the members of the mutual
undertaking which meet all the following criteria:
(i) the
memorandum and articles of association must stipulate that payments
may be made from these accounts to members of the mutual undertaking
only in so far as this does not cause the available solvency margin
to fall below the required level, or, after the dissolution of the
undertaking, if all the undertaking's other debts have been
settled;
(ii) the memorandum and articles of association must
stipulate, with respect to any payments referred to in point (i) for
reasons other than the individual termination of membership in the
mutual undertaking, that the competent authorities must be notified
at least one month in advance and can prohibit the payment within
that period;
(iii) the relevant provisions of the memorandum
and articles of association may be amended only after the competent
authorities have declared that they have no objection to the
amendment, without prejudice to the criteria stated in points (i)
and (ii);
(b) reserves (statutory and free) not corresponding
to underwriting liabilities;
(c) the profit or loss brought
forward after deduction of dividends to be paid;
(d) in so
far as authorised under national law, profit reserves appearing in
the balance sheet where they may be used to cover any losses which
may arise and where they have not been made available for
distribution to members and beneficiaries. The available solvency
margin shall be reduced by the amount of own shares directly held by
the institution.
3. Member States may provide that the
available solvency margin may also consist of:
(a)
cumulative preferential share capital and subordinated loan capital
up to 50 % of the lesser of the available solvency margin and the
required solvency margin, no more than 25 % of which shall consist
of subordinated loans with a fixed maturity, or fixed-term
cumulative preferential share capital, provided that binding
agreements exist under which, in the event of the bankruptcy or
liquidation of the institution, the subordinated loan capital or
preferential share capital ranks after the claims of all other
creditors and is not to be repaid until all other debts outstanding
at the time have been settled.
Subordinated loan capital
shall also fulfil the following conditions:
(i) only fully
paid-up funds shall be taken into account;
(ii) for loans
with a fixed maturity, the original maturity shall be at least five
years. No later than one year before the repayment date, the
institution shall submit to the competent authorities for their
approval a plan showing how the available solvency margin will be
kept at or brought to the required level at maturity, unless the
extent to which the loan may rank as a component of the available
solvency margin is gradually reduced during at least the last five
years before the repayment date. The competent authorities may
authorise the early repayment of such loans provided application is
made by the issuing institution and its available solvency margin
will not fall below the required level;
(iii) loans the
maturity of which is not fixed shall be repayable only subject to
five years' notice unless the loans are no longer considered as a
component of the available solvency margin or unless the prior
consent of the competent authorities is specifically required for
early repayment. In the latter event the institution shall notify
the competent authorities at least six months before the date of the
proposed repayment, specifying the available solvency margin and the
required solvency margin both before and after that repayment. The
competent authorities shall authorise repayment only if the
institution's available solvency margin will not fall below the
required level;
(iv) the loan agreement shall not include any
clause providing that in specified circumstances, other than the
winding-up of the institution, the debt will become repayable before
the agreed repayment dates;
(v) the loan agreement may be
amended only after the competent authorities have declared that they
have no objection to the amendment;
(b) securities with no
specified maturity date and other instruments, including cumulative
preferential shares other than those mentioned in point (a), up to
50 % of the lesser of the available solvency margin and the required
solvency margin for the total of such securities and the
subordinated loan capital referred to in point (a) provided they
fulfil the following:
(i) they may not be repaid on the
initiative of the bearer or without the prior consent of the
competent authority;
(ii) the contract of issue shall enable
the institution to defer the payment of interest on the
loan;
(iii) the lender's claims on the institution shall rank
entirely after those of all non-subordinated creditors;
(iv)
the documents governing the issue of the securities shall provide
for the loss-absorption capacity of the debt and unpaid interest,
while enabling the institution to continue its business;
(v)
only fully paid-up amounts shall be taken into account.
4.
Upon application, with supporting evidence, by the institution to
the competent authority of the home Member State and with the
agreement of that competent authority, the available solvency margin
may also consist of:
(a) where Zillmerising is not practised
or where, if practised, it is less than the loading for acquisition
costs included in the premium, the difference between a
non-Zillmerised or partially Zillmerised mathematical provision and
a mathematical provision Zillmerised at a rate equal to the loading
for acquisition costs included in the premium. This figure may not,
however, exceed 3,5 % of the sum of the differences between the
relevant capital sums of life assurance and occupational retirement
provision activities and the mathematical provisions for all
policies for which Zillmerising is possible. The difference shall be
reduced by the amount of any undepreciated acquisition costs entered
as an asset;
(b) any hidden net reserves arising out of the
valuation of assets, in so far as such hidden net reserves are not
of an exceptional nature;
(c) one half of the unpaid share
capital or initial fund, once the paid-up part amounts to 25 % of
that share capital or fund, up to 50 % of the lesser of the
available and required solvency margin.
5. The Commission may
adopt implementing measures relating to paragraphs 2, 3 and 4 to
take into account developments that justify a technical adjustment
of the elements eligible for the available solvency margin.
Those measures designed to amend non-essential elements of
this Directive shall be adopted in accordance with the regulatory
procedure with scrutiny referred to in Article 21b.
Article
17b
Required solvency margin
1. Subject to Article
17c, the required solvency margin shall be determined as laid down
in paragraphs 2 to 6 according to the liabilities
underwritten.
2. The required solvency margin shall be equal
to the sum of the following two results:
(a) first
result:
a 4 % fraction of the mathematical provisions
relating to direct business and reinsurance acceptances gross of
reinsurance cessions shall be multiplied by the ratio, for the last
financial year, of the mathematical provisions net of reinsurance
cessions to the gross total mathematical provisions. That ratio may
in no case be less than 85 %.;
(b) second result:
for
policies on which the capital at risk is not a negative figure, a
0,3 % fraction of such capital underwritten by the institution shall
be multiplied by the ratio, for the last financial year, of the
total capital at risk retained as the institution's liability after
reinsurance cessions and retrocessions to the total capital at risk
gross of reinsurance; that ratio may in no case be less than 50
%.
For temporary assurance on death of a maximum term of
three years the fraction shall be 0,1 %. For such assurance of a
term of more than three years but not more than five years the above
fraction shall be 0,15 %.
3. For the supplementary insurance
referred to in Article 2(3)(a)(iii) of Directive 2009/.../EC [on the
taking-up and pursuit of the business of Insurance and Reinsurance]
the required solvency margin shall be equal to the required solvency
margin for institutions as laid down in Article 17d.
4. For
capital redemption operations referred to in Article 2(3)(b)(ii) of
Directive 2009/.../EC [on the taking-up and pursuit of the business
of Insurance and Reinsurance], the required solvency margin shall be
equal to a 4 % fraction of the mathematical provisions calculated in
compliance with paragraph 2(a).
5. For operations referred to
in Article 2(3)(b)(i) of Directive 2009/.../EC [on the taking-up and
pursuit of the business of Insurance and Reinsurance], the required
solvency margin shall be equal to 1 % of their assets.
6. For
assurances covered by Article 2(3)(a)(i) and (ii) of Directive
2009/.../EC [on the taking-up and pursuit of the business of
Insurance and Reinsurance] linked to investment funds and for the
operations referred to in Article 2(3)(b)(iii), (iv) and (v) of
Directive 2009/.../EC [on the taking-up and pursuit of the business
of Insurance and Reinsurance], the required solvency margin shall be
equal to the sum of the following:
(a) in so far as the
institution bears an investment risk, a 4 % fraction of the
technical provisions, calculated in compliance with paragraph
2(a);
(b) in so far as the institution bears no investment
risk but the allocation to cover management expenses is fixed for a
period exceeding five years, a 1 % fraction of the technical
provisions, calculated in compliance with paragraph 2(a);
(c)
in so far as the institution bears no investment risk and the
allocation to cover management expenses is not fixed for a period
exceeding five years, an amount equivalent to 25 % of the last
financial year's net administrative expenses pertaining to such
business;
(d) in so far as the institution covers a death
risk, a 0,3 % fraction of the capital at risk calculated in
compliance with paragraph 2(b).
Article 17c
Guarantee
fund
1. Member States may provide that one third of the
required solvency margin as specified in Article 17b shall
constitute the guarantee fund. This fund shall consist of the items
listed in Article 17a(2), (3) and, with the agreement of the
competent authority of the home Member State, (4)(b).
2. The
guarantee fund may not be less than a minimum of EUR 3 million. Any
Member State may provide for a one-fourth reduction of the minimum
guarantee fund in the case of mutual undertakings and mutual-type
undertakings.
Article 17d
Required solvency margin
for the purpose of Article 17b(3)
1. The required solvency
margin shall be determined on the basis either of the annual amount
of premiums or contributions, or of the average burden of claims for
the past three financial years.
2. The amount of the
required solvency margin shall be equal to the higher of the two
results as set out in paragraphs 3 and 4.
3. The premium
basis shall be calculated using the higher of gross written premiums
or contributions as calculated below, and gross earned premiums or
contributions.
The premiums or contributions (inclusive of
charges ancillary to premiums or contributions) due in respect of
direct business in the last financial year shall be
aggregated.
To this sum there shall be added the amount of
premiums accepted for all reinsurance in the last financial
year.
From this sum there shall then be deducted the total
amount of premiums or contributions cancelled in the last financial
year, as well as the total amount of taxes and levies pertaining to
the premiums or contributions entering into the
aggregate.
The amount so obtained shall be divided into two
portions, the first portion extending up to EUR 50 million, the
second comprising the excess; 18 % and 16 % of these portions
respectively shall be calculated and added together.
The sum
so obtained shall be multiplied by the ratio existing in respect of
the sum of the last three financial years between the amount of
claims remaining to be borne by the institution after deduction of
amounts recoverable under reinsurance and the gross amount of
claims; that ratio may in no case be less than 50 %.
4. The
claims basis shall be calculated, as follows:
The amounts of
claims paid in respect of direct business (without any deduction of
claims borne by reinsurers and retrocessionaires) in the periods
specified in paragraph 1 shall be aggregated.
To this sum
there shall be added the amount of claims paid in respect of
reinsurances or retrocessions accepted during the same periods and
the amount of provisions for claims outstanding established at the
end of the last financial year both for direct business and for
reinsurance acceptances.
From this sum there shall be
deducted the amount of recoveries effected during the periods
specified in paragraph 1.
From the sum then remaining, there
shall be deducted the amount of provisions for claims outstanding
established at the commencement of the second financial year
preceding the last financial year for which there are accounts, both
for direct business and for reinsurance acceptances.
One-third of the amount so obtained shall be divided into
two portions, the first extending up to EUR 35 million and the
second comprising the excess; 26 % and 23 % of these portions
respectively shall be calculated and added together.
The sum
so obtained shall be multiplied by the ratio existing in respect of
the sum of the last three financial years between the amount of
claims remaining to be borne by the institution after deduction of
amounts recoverable under reinsurance and the gross amount of
claims; that ratio may in no case be less than 50 %.
5. If
the required solvency margin as calculated in paragraphs 2, 3 and 4
is lower than the required solvency margin of the year before, the
required solvency margin shall be at least equal to the required
solvency margin of the year before multiplied by the ratio of the
amount of the technical provisions for claims outstanding at the end
of the last financial year and the amount of the technical
provisions for claims outstanding at the beginning of the last
financial year. In these calculations technical provisions shall be
calculated net of reinsurance but the ratio may in no case be higher
than 1.".
3. The following Articles 21a and 21b are
inserted:
"Article 21a
Review of the amount of the
guarantee fund
1. The amount in euro as laid down in Article
17c(2) shall be reviewed annually starting on 31 October 2012, in
order to take account of changes in the European index of consumer
prices comprising all Member States as published by
Eurostat.
The amount shall be adapted automatically, by
increasing the base amount in euro by the percentage change in that
index over the period between [31.12.2009] and the review date and
rounded up to a multiple of EUR 100 000.
If the percentage
change since the last adaptation is less than 5 %, no adaptation
shall take place.
2. The Commission shall inform annually the
European Parliament and the Council of the review and the adapted
amount referred to in paragraph 1.
Article 21b
Committee procedure
1. The Commission shall be
assisted by the European Insurance and Occupational Pensions
Committee established by Commission Decision 2004/9/EC*.
2.
Where reference is made to this paragraph, Articles 5a(1) to (4) of
Decision 1999/468/EC shall apply, having regard to the provisions of
Article 8 thereof.
Article 305b
Duration based
equity risk sub-module
1. Member States may authorise life
insurance undertakings providing:
(a)
occupational-retirement-provision business in accordance with
Article 4 of Directive 2003/41/EC, or
(b) retirement benefits
paid by reference to reaching, or the expectation of reaching,
retirement where the premiums paid for those benefits have a tax
deduction which is authorised to policyholders in accordance with
the national legislation of the Member State that has authorised the
undertaking;
and where
(i) all assets and liabilities
corresponding to this business are ring-fenced, managed and
organised separately from the other activities of the insurance
undertakings, without any possibility of transfer, and
(ii)
the activities of the undertaking related to points a) and b), in
relation to which the approach referred to in this paragraph is
applied, are carried out only in the Member State where the
undertaking has been authorised, and
(iii) the average
duration of the liabilities corresponding to this business held by
the undertaking exceeds an average of 12 years,
to apply an
equity risk sub-module of the Solvency Capital Requirement, which is
calibrated using a Value-at-Risk measure, over a time period, which
is consistent with the typical holding period of equity investments
for the undertaking concerned, with a confidence level providing the
policyholders and beneficiaries with a level of protection
equivalent to that set out in Article 101, if the approach provided
for in this Article is only used in respect of those assets and
liabilities referred in point i). In the calculation of the Solvency
Capital Requirement these assets and liabilities shall be fully
considered for the purpose of assessing the diversification effects,
without prejudice to the need to safeguard the interests of
policyholders and beneficiaries in other Member
States.
Subject to the approval by the supervisory
authorities, the approach set out in subparagraph 1 shall only be
used if the solvency and liquidity position as well as the
strategies, processes and reporting procedures of the undertaking
concerned with respect to asset – liability management are such as
to ensure, on an on-going basis, that it is able to hold equity
investments for a period which is consistent with the typical
holding period of equity investments for the undertaking concerned.
The undertaking shall be able to demonstrate to the supervisory
authority that this condition is verified with the level of
confidence necessary to provide policyholders and beneficiaries with
a level of protection equivalent to that set out in Article
101.
Insurance and reinsurance undertakings shall not revert
to applying the approach set out in Article 105, except in duly
justified circumstances and subject to the approval of the
supervisory authorities.
2. The Commission shall submit to
the European Insurance and Occupational Pensions Committee and the
European Parliament, at the latest three years after the date
referred to in Article 310(1), a report on the application of the
approach set out in paragraph 1 of this Article and the supervisory
authorities' practices adopted pursuant to paragraph 1 of this
Article, accompanied, where appropriate, by any adequate proposals.
This report shall address in particular cross-border effects of the
use of this approach in a view to preventing regulatory arbitrage
from insurance and reinsurance undertakings.
TITLE
VI
TRANSITIONAL AND FINAL PROVISIONS
CHAPTER
I
TRANSITIONAL PROVISIONS
SECTION 1 -
INSURANCE
Article 306
Derogations and abolition of
restrictive measures
1. Member States may exempt non-life
insurance undertakings which on 31 January 1975 did not comply with
the requirements of Articles 16 and 17 of Directive 73/239/EEC whose
annual premium or contribution income on 31 July 1978 fell short of
six times the amount of the minimum guarantee fund required under
Article 17 (2) of Directive 73/239/EEC from the requirement to
establish such minimum guarantee fund before the end of the
financial year in respect of which the premium or contribution
income is as much as six times such minimum guarantee fund. After
considering the results of the examination provided for under
Article 301(2), the Council shall unanimously decide, on a proposal
from the Commission, when this exemption is to be abolished by
Member States.
2. Non-life insurance undertakings set up in
the United Kingdom by Royal Charter or by private Act or by special
public Act may continue to carry on their business in the form in
which they were constituted on 31 July 1973 for an unlimited
period.
Life insurance undertakings set up in the United
Kingdom by Royal Charter or by private Act or by special Public Act
may carry on their activity in the legal form in which they were
constituted on 15 March 1979 for an unlimited period.
The
United Kingdom shall draw up a list of the undertakings referred to
in the first and second subparagraphs and communicate it to the
other Member States and the Commission.
3. The societies
registered in the United Kingdom under the Friendly Societies Acts
may continue the activities of life insurance and savings operations
which, in accordance with their objects, they were carrying on as of
15 March 1979.
4. At the request of non-life insurance
undertakings which comply with the requirements of Title I, Chapter
VI, Sections 2, 4 and 5,Member States shall cease to apply
restrictive measures such as those relating to mortgages, deposits
and securities.
Article 307
Rights acquired by
existing branches and insurance undertakings
1. Branches
which started business, in accordance with the provisions in force
in the Member State where that branch is situated, before 1 July
1994 shall be presumed to have been subject to the procedure laid
down in Article 143 and 144.
2. Articles 145 and 146 shall
not affect rights acquired by insurance undertakings carrying on
business under the freedom to provide services before 1 July
1994.
SECTION 2 - REINSURANCE
Article
308
Transitional period for Articles 57(3) and 60(6) of
Directive 2005/68/EC
A Member State may postpone the
application of the provisions of Article 57(3) of Directive
2005/68/EC amending Article 15(3) of Directive 73/239/EEC and of the
provision of Article 60(6) of Directive 2005/68/EC until 10 December
2008.
Article 309
Right acquired by existing
reinsurance undertakings
1. Reinsurance undertakings subject
to this Directive which were authorised or entitled to conduct
reinsurance business in accordance with the provisions of the Member
States in which they have their head offices before 10 December 2005
shall be deemed to be authorised in accordance with Article
14.
However, they shall be obliged to comply with the
provisions of this Directive concerning the carrying on of the
business of reinsurance and with the requirements set out in points
(b), and (d) to (g) of Article 18(1), Articles 19, 20 and 24 and
Title I Chapter VI, Sections 2, 3 and 4.
2. Member States may
allow reinsurance undertakings referred to in paragraph 1 which at
10 December 2005 did not comply with point (b) of Article 18(1),
Articles 19 and 20 and Title I Chapter VI, Sections 2, 3 and 4 until
10 December 2008 in order to comply with such
requirements.
CHAPTER II
FINAL
PROVISIONS
Article 310
Transposition
1.
Member States shall bring into force the
laws, regulations and administrative provisions necessary
to comply with Articles 4, 6-8, 10, 13, 14, 18, 23, 26-31, 34-54,
66, 67, 70, 71, 73-140, 142, 144, 146, 150, 160-165, 170, 171,
176, 188, 190, 208-268, 280, 304, 305a and 305b and Annex III, IV
and V by 31 October 2012 at the latest.
When Member States adopt those provisions, they
shall
contain a reference to this Directive or be accompanied by such a
reference on the occasion of their official publication.
They shall
also include a statement that references in existing laws,
regulations and administrative provisions to the directives repealed
by this Directive shall be construed as references to this
Directive.
Member States shall determine how such reference is to be
made and how that statement is to be formulated.
2. Member
States shall communicate to the Commission the text of the main
provisions of national law which they adopt in the field covered by
this Directive.
Article 311
Repeal
1.
Directives 73/239/EEC, 78/473/EEC, 88/357/EEC, 92/49/EEC, 98/78/EC,
2001/17/EC, 2002/83/EC and 2005/68/EC, as amended by the
Directives listed in Annex VI, Part A, are repealed with effect from
the day after the date set out in Article 310 (1), without prejudice
to the obligations of the Member States relating to the time-limits
for transposition into national law and application of the
Directives set out in Annex VI, Part B.
References to the
repealed Directives shall be construed as references to this
Directive and shall be read in accordance with the correlation table
in Annex VI.
2. Directives 64/225/EEC, 73/240/EEC,
76/580/EEC, 84/641/EEC and 87/344/EEC are repealed as amended by the
Directives listed in Annex VI, Part A, with effect from the day
after the date set out in Article 310 (1), without prejudice to the
obligations of the Member States relating to the time-limits for
transposition into national law and application of the Directives
set out in Annex VI, Part B.
Article 312
Entry
into force
This Directive shall enter into force on the
twentieth day following that of its publication in the Official
Journal of the European Union.
Articles 1-3, 5, 9, 11, 12,
15-17, 19-22, 24-25, 32, 55-65, 68, 69, 72, 141, 143, 145, 147-
149, 151-159, 166-169, 172-175, 177-187, 189, 191-207, 269-279,
281-298, 300-303, 305, 306-309 and Annexes I and II, V, VI and VII
shall apply from 1. November 2012.
Article
313
Addressees
This Directive is addressed to the
Member States.
 
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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