EIOPA · 264

264

Regulation
Guidelines on group solvency
Article
212
Submitted
2015-04-14
Answered
2019-10-16

Question

Whether two companies being a Holding Company and an Insurance Undertaking are considered to be a Group for the purposes of Title III of Directive 2009/138/EC?

Answer

According to Articles 212 and 213 (2) of the Solvency II Directive, which provide the definition of a group and determine the circumstances in which Members States shall provide for supervision at the level of the group, the situations in which a group is formed include: -    Pursuant to article 213 (2) (a), when an insurance or reinsurance undertaking is a participating undertaking in at least one insurance or reinsurance undertaking; and -    Pursuant to article 213 (2) (b), when an insurance holding company or a mixed financial holding company established in the European Economic Area (which appears to be the situation described in the question) is a parent undertaking of at least one insurance or reinsurance undertaking; and -    Pursuant to article 213 (2) (c), when an insurance holding company or a mixed financial holding company established in a third-country is a parent undertaking of at least one insurance or reinsurance undertaking; and -    Pursuant to article 213 (2) (d), when a mixed-activity insurance holding company is a parent undertaking of at least one insurance or reinsurance undertaking.

This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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