On Dec. 10, DEN GVT issued order on calculating solvency capital.
DEN GVT issued Order on calculation of the solvency capital requirement using an internal model for group 1 insurance companies, etc Pursuant to section 154(6), section 166(10), section 316(1) of Act 718 of Jun. 13, 2023 on insurance business.
Follows DEN GVT issued Act 718 of Jun. 13, 2023 in the official journal, see #172805.
Sets out the procedure for a Group 1 insurance company that wishes to use an internal model for calculating the solvency capital requirement applying to the DEN FSA.
Effectiveness
Executive Order enters into force on Jan. 1, 2025, on which day Order 1165 of Oct. 31, 2017 on the calculation of the solvency capital requirement when using an internal model for group 1 insurance companies, etc. is repealed.
Dec. 2024 Reporting Order
On Dec. 14, 2024, DEN GVT published BEK 1536 Executive Order reports on solvency and financial situation for group 1 insurance companies; it implements SLV2 rules.
It covers structure and content of public report, exceptions to requirement to publish information, information about major events, corporations and groups, penal rules etc.
It enters into force on Jan. 1, 2025; Executive Order 593/2017 is then repealed.
Regulators
DEN GVT
Entity Types
Ins
Reference
OG 12/14/2024; OG 12/10/2024; BEK 1536, Ord, 12/6/2024; Ord 1428 of 12/5/2024; Rpl Order 593/2017; Rpl Ord 1165, 10/31/2017; SLV2 Reg 2015/35, Dir 2009/138
