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Order BEK 1723/2015, on the management and governance of insurance companies and cross-sector pension funds is repealed.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.