1. Introductory Text

  2. Title I — General provisions

    1. Article 1.(1) This Directive concerns the taking-up and pursuit of the...

    2. Article 2.This Directive does not apply to: The following kinds of...

    3. Article 3.(1) This Directive shall not apply to mutual associations which...

    4. Article 4.This Directive shall not apply to the following institutions unless...

    5. Article 5.For the purposes of this Directive: ‘Unit of account’ means...

  3. Title II — Rules applicable to undertakings whose head offices are situated within the Community

    1. Section A: Conditions of admission

      1. Article 6.The taking up of the business of direct insurance shall...

      2. Article 7.(1) Authorization shall be valid for the entire Community. It...

      3. Article 8.(1) The home Member State shall require every insurance undertaking...

      4. Article 9.The scheme of operations referred to in Article 8 (1)...

      5. Article 10.(1) An insurance undertaking that proposes to establish a branch...

      6. Article 11.. . . . . . . . . ....

      7. Article 12.Any decision to refuse an authorization shall be accompanied by...

      8. Article 12a.(1) The competent authorities of the other Member State involved...

    2. Section B: Conditions for exercise of business

      1. Article 13.(1) The financial supervision of an insurance undertaking, including that...

      2. Article 14.The Member State of the branch shall provide that where...

      3. Article 15.(1) The home Member State shall require every insurance undertaking...

      4. Article 15a.(1) Member States shall require every insurance undertaking with a...

      5. Article 16.(1) Each Member State shall require of every insurance undertaking...

      6. Article 16a.(1) The required solvency margin shall be determined on the...

      7. Article 17.(1) One third of the required solvency margin as specified...

      8. Article 17a.(1) The amounts in euro as laid down in Article...

      9. Article 17b.(1) Each Member State shall require that an insurance undertaking...

      10. Article 18.(1) Member States shall not prescribe any rules as to...

      11. Article 19.(1) Each Member State shall require every undertaking whose head...

      12. Article 20.(1) If an undertaking does not comply with Article 15,...

      13. Article 20a.(1) Member States shall ensure that the competent authorities have...

      14. Article 21.(1) Each Member State shall make it possible for an...

    3. Section C: Withdrawal of authorization

      1. Article 22.(1) Authorization granted to an insurance undertaking by the competent...

  4. Title III A — Rules applicable to agencies or branches established within the Community and belonging to undertakings whose head offices are outside the Community

    1. Article 23.(1) Each Member State shall make access to the business...

    2. Article 24.Member States shall require undertakings to establish adequate technical reserves...

    3. Article 25.(1) Each Member State shall require for agencies or branches...

    4. Article 26.(1) Any undertaking which has requested or obtained authorization from...

    5. Article 27.The provisions of Articles 19 and 20 shall also apply...

    6. Article 28.In the case of a withdrawal of authorization by the...

    7. Article 28a.(1) Under the conditions laid down by national law, each...

    8. Article 29.The Community may, by means of agreements concluded pursuant to...

  5. Title III B — Rules applicable to subsidiaries of parent undertakings governed by the laws of a third country and to acquisitions of holdings by such parent undertakings

    1. Article 29a.(1) The competent authorities of the Member States shall inform...

    2. Article 29b.(1) Member States shall inform the Commission of any general...

  6. Title IV — Transitional and other provisions

    1. Article 30.(1) Member States shall allow undertakings referred to in Title...

    2. Article 31.Member States shall allow agencies or branches referred to in...

    3. Article 32.During a period which terminates at the time of the...

  7. Title V — Final provisions

    1. Article 33.The Commission and the competent authorities of the Member States...

    2. Article 34.(1) The Commission shall submit to the Council, within six...

    3. Article 35.Member States shall amend their national provisions to comply with...

    4. Article 36.Upon notification of this Directive, Member States shall ensure that...

    5. Article 37.The Annex shall form an integral part of this Directive....

    6. Article 38.This Directive is addressed to the Member States.

    1. ANNEX

      1. A. Classification of risks according to classes of insurance

        1. 1. Accident (including industrial injury and occupational diseases)

        2. 2. Sickness

        3. 3. Land vehicles (other than railway rolling stock)

        4. 4. Railway rolling stock

        5. 5. Aircraft

        6. 6. Ships (sea, lake and river and canal vessels)

        7. 7. Goods in transit(including merchandise, baggage, and all other goods)

        8. 8. Fire and natural forces

        9. 9. Other damage to property

        10. 10. Motor vehicle liability

        11. 11. Aircraft liability

        12. 12. Liability for ships (sea, lake and river and canal vessels)...

        13. 13. General liability

        14. 14. Credit

        15. 15. Suretyship

        16. 16. Miscellaneous financial loss

        17. 17. Legal expenses

        18. 18. Assistance

      2. B. Description of authorizations granted for more than one class of...

      3. C. Ancillary risks

      4. D. Methods of calculating the equalization reserve for the credit insurance...

        1. Method No 1

          1. 1. In respect of the risks included in the class of...

          2. 2. Such reserve shall in each financial year receive 75 % of...

        2. Method No 2

          1. 1. In respect of the risks included in the class of...

          2. 2. The minimum amount of the equilization reserve shall be 134 %...

          3. 3. Such reserve shall in each of the successive financial years...

          4. 4. Member States may lay down special rules for the calculation...

        3. Method No 3

          1. 1. An equalization reserve shall be formed for class 14 in...

          2. 2. The equalization reserve shall be calculated on the basis of...

        4. Method No 4

          1. 1. An equalization reserve shall be formed for class 14 in...

          2. 2. The equalization reserve shall be calculated on the basis of...