COM(2004)273 - Reinsurance

Please note

This page contains a limited version of this dossier in the EU Monitor.

Contents

  1. Key information
  2. Key dates
  3. Related information
  4. Resulting legislation
  5. Full version
  6. EU Monitor

1.

Key information

official title

Proposal for a Directive of the European Parliament and of the Council on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC and Directives 98/78/EC and 2002/83/EC
 
Legal instrument Directive
Decision making procedure ordinary legislative procedure (COD)
reference by COM-number240 COM(2004)273 EN
Additional COM-numbers SEC(2004)443
procedure number242 2004/0097(COD)
CELEX number243 52004PC0273

2.

Key dates

Document 21-04-2004
Online publication 21-04-2004
Decision 16-11-2005; Richtlijn 2005/68
Publication in Official Journal244 09-12-2005; Special edition in Romanian: Chapter 06 Volume 007,Special edition in Bulgarian: Chapter 06 Volume 007,OJ L 323, 9.12.2005,Special edition in Croatian: Chapter 06 Volume 007

3.

Related information

4.

Resulting legislation

 

5.

Full version

This page is also available in a full version containing the latest state of affairs, the summary of the European Parliament Legislative Observatory, the legal basis, the legal context, other dossiers related to the dossier at hand, the stakeholders involved (e.g. European Commission directorates-general, European Parliament committees, Council configurations and even individual EU Commissioners and Members of the European Parliament) and finally documents of the European Parliament, the Council of Ministers and the European Commission.

The full version is available for registered users of the EU Monitor by ANP and PDC Informatie Architectuur.

6.

EU Monitor

The EU Monitor enables its users to keep track of the European process of lawmaking, focusing on the relevant dossiers. It automatically signals developments in your chosen topics of interest. Apologies to unregistered users, we can no longer add new users.This service will discontinue in the near future.

  • 1. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 2. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 3. 
    Standard
     
  • 4. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 5. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 6. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 7. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 8. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p. 3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p. 1)

     
  • 9. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 10. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 11. 
    Directive 73/239/EEC, art. 16, as amended by Directive 92/49/EEC, art. 11 and Directive 2002/83/EC art. 11.

     
  • 12. 
    Directive 92/49/EEC, art. 15 and Directive 2002/83/EC, art. 15.

     
  • 13. 
    Directive 92/49/EEC, art.16 and Directive 2002/83/EC, art. 16.

     
  • 14. 
    Directive 92/49/EEC, art 16a) inserted by Directive 95/26/EC (OJ L 168, 18.7.1995, p. 7) and Directive 2002/83/EC, art. 17.

     
  • 15. 
    OJ L 374, 31.12.1991 p.7.

     
  • 16. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 17. 
    OJ L L 110, 20.04.2001 p.28.

     
  • 18. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p. 3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p. 1)

     
  • 19. 
    Standard
     
  • 20. 
    Non-Life: Directives 73/239/EEC, 88/357/EEC, 92/49/EEC; Life: Directive 2002/83/EEC; Insurance Groups: Directive 98/78/EEC (OJ L 330, 5.12.1998, p. 1).

     
  • 21. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 22. 
    OJ L 330, 5.12.1998, p. 1.

     
  • 23. 
    OJ L 35, 11.2.2003, p. 1.

     
  • 24. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 25. 
    OJ C , , p. .

     
  • 26. 
    OJ C , , p. .

     
  • 27. 
    OJ C , , p. .

     
  • 28. 
    OJ C , , p. .

     
  • 29. 
    OJ L 228, 16.8.1973, p.3.

     
  • 30. 
    OJ L 228, 11.8.1992 p. 1. Directive as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1)

     
  • 31. 
    OJ L 345, 19.12.2002, p. 1.

     
  • 32. 
    OJ 56, 4.4.1964 p.878.

     
  • 33. 
    OJ L 330, 5.12.1998, p. 1. Directive as last amended by Directive 2002/87/EC (OJ L 35, 11.2.2003, p 1).

     
  • 34. 
    OJ L 374, 31.12.1991, p. 7. Directive amended by Directive 2003/51/EC of the European Parliament and of the Council (OJ L 178, 17.7.2003, p. 16).

     
  • 35. 
    OJ L 374, 31.12.1991, p. 32.

     
  • 36. 
    OJ L 184, 17.7.1999 p. 23.

     
  • 37. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 38. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 39. 
    OJ L 235, 23.9.2003, p. 10.

     
  • 40. 
    OJ L 193, 18.7.1983, p. 1.

     
  • 41. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 42. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 43. 
    OJ L 184, 6.7.2001 p. 66

     
  • 44. 
    OJ L 294, 10.11.2001.p.1

     
  • 45. 
    OJ L 35, 11.02.2003 p. 1

     
  • 46. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 47. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 48. 
    OJ L 126, 12.5.1984, p. 20.

     
  • 49. 
    OJ L 222, 14.8.1978, p. 11.

     
  • 50. 
    OJ L 375, 31.12.1985, p. 3.

     
  • 51. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 52. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 53. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 54. 
    OJ L 141, 11.6.1993, p. 27.

     
  • 55. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 56. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 57. 
    OJ L 141, 11.6.1993, p. 1.

     
  • 58. 
    Standard
     
  • 59. 
    Standard
     
  • 60. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 61. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 62. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 63. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 64. 
    Standard
     
  • 65. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 66. 
    Standard
     
  • 67. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 68. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 69. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 70. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p. 3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p. 1)

     
  • 71. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 72. 
    Standard
     
  • 73. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 74. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 75. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 76. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 77. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 78. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 79. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 80. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 81. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 82. 
    Standard
     
  • 83. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 84. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 85. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 86. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 87. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 88. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 89. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 90. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 91. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 92. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 93. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 94. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 95. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 96. 
    Standard
     
  • 97. 
    Standard
     
  • 98. 
    Standard
     
  • 99. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p. 1).

     
  • 100. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 101. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 102. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 103. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 104. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 105. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 106. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 107. 
    See also an Issues Paper prepared by IAIS Working Group on Reinsurance, 'Reinsurance and reinsurers: relevant issues for establishing general supervisory principles standards and practices', Amsterdam 2000, p. 20 ff. Website: www.iaisweb.org/ .

     
  • 108. 
    Source: OECD.

     
  • 109. 
    idem.

     
  • 110. 
    The low cession rate for life insurance is due to the fact that only the risk component of it, not the larger savings component, that is reinsured.

     
  • 111. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 112. 
    Standard
     
  • 113. 
    Council Directive of 25 February 1964 on the abolition of restrictions of establishment and freedom to provide services in respect of reinsurance and retrocession (64/225/EEC), O.J. S64 of 4.4.64.

     
  • 114. 
    'Report: results of questionnaire on the supervision of reinsurance undertakings', European Commission, doc XV/2040/99
     
  • 115. 
    Directly means that any reinsurer conducting business in the Member State is required to be authorised in some way by the supervisor. Indirectly means that the supervisor only examines a reinsurer when it examines the adequacy of a reinsurance contract taken out by a primary insurer with that reinsurer. (Commission questionnaire, see footnote 6).

     
  • 116. 
    See www.cea.assur.org.

     
  • 117. 
    See www.oecd.org/home/ .

     
  • 118. 
    See www.fsforum.org/home/ home.html.

     
  • 119. 
    The study - prepared by the KPMG - is available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm.

     
  • 120. 
    ibid.

     
  • 121. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 122. 
    Standard
     
  • 123. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 124. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 125. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 126. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 127. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p.

    3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p.

    1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p.

    1)

     
  • 128. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 129. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 130. 
    Directive 73/239/EEC, art. 16, as amended by Directive 92/49/EEC, art. 11 and Directive 2002/83/EC art. 11.

     
  • 131. 
    Directive 92/49/EEC, art. 15 and Directive 2002/83/EC, art. 15.

     
  • 132. 
    Directive 92/49/EEC, art.16 and Directive 2002/83/EC, art. 16.

     
  • 133. 
    Directive 92/49/EEC, art 16a) inserted by Directive 95/26/EC (OJ L 168, 18.7.1995, p.

    7) and Directive 2002/83/EC, art. 17.

     
  • 134. 
    OJ L 374, 31.12.1991 p.7.

     
  • 135. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 136. 
    OJ L L 110, 20.04.2001 p.28.

     
  • 137. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p.

    3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p.

    1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p.

    1)

     
  • 138. 
    Standard
     
  • 139. 
    Non-Life: Directives 73/239/EEC, 88/357/EEC, 92/49/EEC; Life: Directive 2002/83/EEC; Insurance Groups: Directive 98/78/EEC (OJ L 330, 5.12.1998, p.

    1).

     
  • 140. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 141. 
    OJ L 330, 5.12.1998, p. 1.

     
  • 142. 
    OJ L 35, 11.2.2003, p. 1.

     
  • 143. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 144. 
    OJ C , , p. .

     
  • 145. 
    OJ C , , p. .

     
  • 146. 
    OJ C , , p. .

     
  • 147. 
    OJ C , , p. .

     
  • 148. 
    OJ L 228, 16.8.1973, p.3.

     
  • 149. 
    OJ L 228, 11.8.1992 p. 1. Directive as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1)

     
  • 150. 
    OJ L 345, 19.12.2002, p. 1.

     
  • 151. 
    OJ 56, 4.4.1964 p.878.

     
  • 152. 
    OJ L 330, 5.12.1998, p. 1. Directive as last amended by Directive 2002/87/EC (OJ L 35, 11.2.2003, p 1).

     
  • 153. 
    OJ L 374, 31.12.1991, p. 7. Directive amended by Directive 2003/51/EC of the European Parliament and of the Council (OJ L 178, 17.7.2003, p. 16).

     
  • 154. 
    OJ L 374, 31.12.1991, p. 32.

     
  • 155. 
    OJ L 184, 17.7.1999 p. 23.

     
  • 156. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 157. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 158. 
    OJ L 235, 23.9.2003, p. 10.

     
  • 159. 
    OJ L 193, 18.7.1983, p. 1.

     
  • 160. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 161. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 162. 
    OJ L 184, 6.7.2001 p. 66

     
  • 163. 
    OJ L 294, 10.11.2001.p.1

     
  • 164. 
    OJ L 35, 11.02.2003 p. 1

     
  • 165. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 166. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 167. 
    OJ L 126, 12.5.1984, p. 20.

     
  • 168. 
    OJ L 222, 14.8.1978, p. 11.

     
  • 169. 
    OJ L 375, 31.12.1985, p. 3.

     
  • 170. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 171. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 172. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 173. 
    OJ L 141, 11.6.1993, p. 27.

     
  • 174. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 175. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 176. 
    OJ L 141, 11.6.1993, p. 1.

     
  • 177. 
    Standard
     
  • 178. 
    Standard
     
  • 179. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 180. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 181. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 182. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 183. 
    Standard
     
  • 184. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 185. 
    Standard
     
  • 186. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 187. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 188. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 189. 
    Directives 73/239/EEC (OJ, L 228, 16.8.1973, p.

    3), Directive 92/49/EEC (OJ L 228, 11.8.1992, p.

    1), Directive 2002/83/EC (OJ L 345, 19.12.2002, p.

    1)

     
  • 190. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 191. 
    Standard
     
  • 192. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 193. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 194. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 195. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 196. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 197. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 198. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 199. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 200. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 201. 
    Standard
     
  • 202. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 203. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 204. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 205. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 206. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 207. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 208. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 209. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 210. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 211. 
    europa.eu.int/comm/internal_market/ insurance/studies/reins-sup_en.htm

     
  • 212. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 213. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 214. 
    Or a Community insurance undertaking authorised in accordance with the non-life insurance or life assurance Directives (Directives 73/239/EEC and 2002/83/EC).

     
  • 215. 
    Standard
     
  • 216. 
    Standard
     
  • 217. 
    Standard
     
  • 218. 
    Directive 92/49/EEC (OJ L 228, 11.8.1992, p. 1, as last amended by Directive 2002/87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p.

    1), and Directive 92/96/EEC (OJ L 360, 9.12.1992, p.1), this Directive has been recast by Directive 2002/83/EC (OJ L 19.12.2002, p.

    1).

     
  • 219. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 220. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 221. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 222. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 223. 
    For more extensive presentation of the issues included in this chapter, see the Extended Impact Assessment concerning the Proposal for a Reinsurance Directive available at the Commission website: http://europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm

     
  • 224. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 225. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 226. 
    See also an Issues Paper prepared by IAIS Working Group on Reinsurance, 'Reinsurance and reinsurers: relevant issues for establishing general supervisory principles standards and practices', Amsterdam 2000, p. 20 ff. Website: www.iaisweb.org/ .

     
  • 227. 
    Source: OECD.

     
  • 228. 
    idem.

     
  • 229. 
    The low cession rate for life insurance is due to the fact that only the risk component of it, not the larger savings component, that is reinsured.

     
  • 230. 
    Source: 'Reinsurance - a systemic risk?'; Sigma 5/2003, Swiss Re.

     
  • 231. 
    Standard
     
  • 232. 
    Council Directive of 25 February 1964 on the abolition of restrictions of establishment and freedom to provide services in respect of reinsurance and retrocession (64/225/EEC), O.J. S64 of 4.4.64.

     
  • 233. 
    'Report: results of questionnaire on the supervision of reinsurance undertakings', European Commission, doc XV/2040/99
     
  • 234. 
    Directly means that any reinsurer conducting business in the Member State is required to be authorised in some way by the supervisor. Indirectly means that the supervisor only examines a reinsurer when it examines the adequacy of a reinsurance contract taken out by a primary insurer with that reinsurer. (Commission questionnaire, see footnote 6).

     
  • 235. 
    See www.cea.assur.org.

     
  • 236. 
    See www.oecd.org/home/ .

     
  • 237. 
    See www.fsforum.org/home/ home.html.

     
  • 238. 
    The study - prepared by the KPMG - is available at the Commission website: europa.eu.int/comm/internal_market/ insurance/reinsurance_en.htm.

     
  • 239. 
    ibid.

     
  • 240. 
    De Europese Commissie kent nummers toe aan officiële documenten van de Europese Unie. De Commissie maakt onderscheid in een aantal typen documenten door middel van het toekennen van verschillende nummerseries. Het onderscheid is gebaseerd op het soort document en/of de instelling van de Unie van wie het document afkomstig is.
     
  • 241. 
    De Raad van de Europese Unie kent aan wetgevingsdossiers een uniek toe. Dit nummer bestaat uit een vijfcijferig volgnummer gevolgd door een schuine streep met de laatste twee cijfers van het jaartal, bijvoorbeeld 12345/00 - een document met nummer 12345 uit het jaar 2000.
     
  • 242. 
    Het interinstitutionele nummer is een nummerreeks die binnen de Europese Unie toegekend wordt aan voorstellen voor regelgeving van de Europese Commissie.
    Binnen de Europese Unie worden nog een aantal andere nummerseries gebruikt. Iedere instelling heeft één of meerdere sets documenten met ieder een eigen nummering. Die reeksen komen niet overeen met elkaar of het interinstitutioneel nummer.
     
  • 243. 
    Deze databank van de Europese Unie biedt de mogelijkheid de actuele werkzaamheden (workflow) van de Europese instellingen (Europees Parlement, Raad, ESC, Comité van de Regio's, Europese Centrale Bank, Hof van Justitie enz.) te volgen. EURlex volgt alle voorstellen (zoals wetgevende en begrotingsdossiers) en mededelingen van de Commissie, vanaf het moment dat ze aan de Raad of het Europees Parlement worden voorgelegd.
     
  • 244. 
    Als dag van bekendmaking van een Europees besluit geldt de dag waarop het besluit in het Publicatieblad wordt bekendgemaakt, en daardoor in alle officiële talen van de Europese Unie bij het Publicatiebureau beschikbaar is.
     
  • 245. 
    This legally binding act of the European Union establishes a set of objectives which all member states of the European Union must fulfil. The member states are required to implement directives. The member states are free to choose the manner they see fit to fulfil the required objectives.