Attachments. Rundschreiben 2/ (VA) – Mindestanforderungen an die Geschäftsorganisation von Versicherungsunternehmen (MaGo). URL: Aufsichtsrecht /DE Mindestanforderungen an das Risikomanagement (MaRisk VA), copy of the document available. It replaces Circular 3/ – Miniumum Requirements for Risk Management in Insurance Undertakings (MaRisk VA) which had been repealed.
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In this context, the explanations stated under points I to III above should be taken into account.
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Share Facebook Twitter Linked In. Further, there are easements for undertakings with little risk. The original German text is binding in all respects.
Supervisory priorities for ECB has set out its supervisory priorities forwhich include Section 27 of the VAG Article 45 of the S II Framework Directive relates to the own risk and solvency assessment ORSAwhich is used, for example, to assess an undertaking’s overall solvency needs, taking into account its specific risk profile.
Tools Share content Share Webcode https: The responsible handling of financial products in manufacturing and distribution is designed to protect clients. Last, when it comes to outsourcing of important functions and activities, it is — in principle — still necessary to submit all relevant documents to BaFin in German. Follow Please login to follow content. Further, there are easements for undertakings with little risk.
VAIT now available in English …. However, it is, inter alia, not addressed to small insurance undertakings, funeral expenses funds and pension funds. Although the interpretative decisions only apply to undertakings subject to Solvency II, BaFin also expects all undertakings outside the scope of this regime to at least comply with the existing requirements. The new Circular is applicable to all primary insurance and reinsurance undertakings situated in Germany and in Third Countries.
The term “important” is defined as follows: Enters into force and effect from this date. Welcome Member login Sign up for newsletters, reports and events. The new Circular is applicable to all primary insurance and reinsurance undertakings situated in Germany and in Third Countries.
This service is intended for those providers who would like to meet BaFin’s notification, reporting and transmission requirements on the basis of a simple and secure electronic data exchange system or who are required to use the Reporting and Publishing Platform.
Access the full database. BaFin stresses that EIOPA-stress tests cannot generally be accepted as being individual stress tests, but might be sufficient in individual cases. To answer this question, BaFin has now published a guidance noticein particular in view of ….
BaFin – Governance
Submission of the draft agreement is required. Breadcrumb You are here: EIOPA will be responsible for implementation. The notification requirement magisk to all domestic insurance undertakings and Pensionsfonds and to all insurance groups consisting exclusively of domestic primary insurers and reinsurers, as well as to groups with primary insurers and reinsurers domiciled in other member states or EEA signatory states pursuant to section vva no.
This does not mean, however, that the requirements for the risk management of undertakings will be reduced, since most of the existing requirements are also based on the provisions of Solvency II.
What are the requirements that credit institutions have to meet if they wish to apply for authorisation to conduct banking business pursuant to sections 32 and 33 of the German Banking Act Kreditwesengesetz — KWG in conjunction with section 14 of the German Reports Regulation Anzeigenverordnung — AnzV?
News Measures New documents News Date: The risk management system includes, among other things, strategies, processes and reporting procedures.
Organizationally integrating the risk management concept into the company.
Insurance Supervision Solvency II. At the current interest rate level, the previous regulation would have led to excessive balance sheet provisions, which would have been to the detriment of customers, in particular of policyholders with low interest rate guarantees. In addition, there are new requirements for risk management and other parts of the governance system. Responsible for the micro-prudential regulation of individual firms Area: Since this is not a formal notification stipulated under section 47 no.