DEN GVT Insurance Firm Management


On Dec. 7, DEN GVT issued order on insurer management and control.


  • DEN GVT issued BEK 1405/2024 of Dec. 5, 2024, Executive order on management and control of insurance companies etc, which amends Executive Order BEK 1723/2015.
  • Follows DEN GVT Dec. 2024, issued order amending management rules, see #235645.
  • Summary and Effectiveness
  • In addition to previous order, covers regs implementing directive 32009L0138 on the taking-up and pursuit of business of Insurance and Reinsurance (Solvency II).
  • Repeals subsection 4, of Executive Order BEK 1723/2015, on the management and governance of insurance companies and cross-sector pension funds is repealed.
  • Section 1, subsection 5 enters into force on Jan. 17, 2025.
  • Sec 3, subsec 2, sec 5, subsec 1, clause 2, sec 8, subsec 1, 1, sec 17, subsec 1 clause 2 clause, sec 20, subsec 1, 4, annex 1, 2, letter c, annex 2, 1, letter a, annex 2, 7, letter b, clause 2, annex 2, 9, letter a, annex 6, 2, and letter e, annex 6, 9-11, 15.
  • All of the above will enter into force on Jun. 30, 2025.
  • The Executive Order enters into force on Jan. 2, 2025.

Regulators DEN GVT
Entity Types IB; Ins; Pension
Reference OG, 12/7/2024; BEK 1405/2024,12/5/2024; BEK 1723/2015; Directive 32009L0138; Citation: BEK 1405/2024;
Functions Compliance; C-Suite; HR; Legal; Operations
Countries Denmark
Category
State
Products Insurance; Pensions
Regions EMEA
Rule Type Final
Rule Date 12/7/2024
Effective Date 1/2/2025
Rule Id 236321
Linked to N/A
Reg. Last Update 12/7/2024
Report Section EU

Last substantive update on 12/11/2024