Considerations on COM(2017)666 - EU position in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other than life insurance

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dossier COM(2017)666 - EU position in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other ...
document COM(2017)666 EN
date November 17, 2017
 
(1) The Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance (‘the Agreement’) was concluded by the Union by Council Decision 91/370/EEC 2 and entered into force on 1 January 1993.

(2) Pursuant to Article Articles 39 and 40.3 of the Agreement, the EU-Switzerland Joint Committee may amend the annexes and protocols to the Agreement.

(3) The EU-Switzerland Joint Committee adopted on 18 July 2001 Decision No 1/2001 3 amending the annexes and protocols to the Agreement and finding that the domestic legislation of the Contracting Parties is compatible with that Agreement.

(4) The EU-Switzerland Joint Committee, during its next meeting, is to adopt a decision on a technical revision of the Agreement.

(5) It is appropriate to establish the position to be adopted on behalf of the Union in the EU-Switzerland Joint Committee concerning amendments to the annexes and protocols to the Agreement and the compatibility of domestic legislation with the Agreement, as the decision will be binding on the Union.

(6) The solvency regimes in the Union and Switzerland have been amended since 2001. It is therefore necessary to update the solvency regime referred to in the Agreement to bring it in line with the regimes currently in place in the Union and Switzerland.

(7) The Euro-Swiss Franc conversion rate should be amended to reflect the current conversion rate.