direct ec european parliament council octob supplementari supervis insur undertak insur group european parliament council european union regard treati establish european commun articl thereof regard propos commiss regard opinion econom social committe act accord procedur laid articl treati council direct eec juli coordin law regul administr provis relat take pursuit busi direct insur life assur council direct eec march coordin law regul administr provis relat take pursuit busi direct life assur requir insur undertak solvenc margin council direct eec june coordin law regul administr provis relat direct insur life assur amend direct eec eec council direct eec novemb coordin law regul administr provis relat direct life assur amend direct eec eec take pursuit busi insur subject grant singl offici authoris issu author member state insur undertak regist offic home member state authoris undertak carri busi commun establish freedom provid servic compet author home member state respons monitor financi health insur undertak includ solvenc measur supplementari supervis insur undertak insur group enabl author supervis insur undertak form soundli base judgment financi situat supplementari supervis account undertak present subject supervis commun direct direct impli member state requir undertak supervis undertak consid individu insur undertak common insur market engag direct competit rule capit requir equival end criteria appli determin supplementari supervis left sole discret member state adopt common basic rule interest commun prevent distort competit elimin diverg law member state prudenti rule insur undertak part insur group subject approach adopt consist bring harmonis essenti suffici achiev mutual recognit prudenti control system field aim direct protect interest insur person provis direct defin minimum standard home member state lai stricter rule insur undertak authoris compet author direct supplementari supervis insur compani particip undertak insur undertak reinsur undertak member countri insur undertak rule supplementari supervis insur compani parent undertak insur hold compani reinsur undertak member countri insur undertak mix activ insur hold compani supervis individu insur undertak compet author remain essenti principl insur supervis calcul adjust solvenc situat insur undertak form part insur group method appli compet author commun account effect financi situat insur undertak attribut fact belong insur group direct lai method effect calcul principl accept method prudenti equival solvenc relat subsidiari insur undertak insur hold compani reinsur undertak member countri insur undertak affect financi resourc group part distribut financi resourc group compet author provid mean exercis supplementari supervis take measur level insur undertak solvenc jeopardis compet author access inform relev exercis supplementari supervis cooper author respons supervis insur undertak author author respons supervis financi sector establish intra group transact affect financi posit insur undertak compet author posit exercis gener supervis type intra group oper measur level insur undertak solvenc jeopardis adopt direct articl definit purpos direct insur undertak mean undertak receiv offici authoris accord articl direct eec articl direct eec member countri insur undertak mean undertak requir authoris accord articl direct eec articl direct eec regist offic commun reinsur undertak mean undertak insur undertak member countri insur undertak main busi consist accept risk cede insur undertak member countri insur undertak reinsur undertak parent undertak mean parent undertak mean articl direct eec undertak opinion compet author effect exercis domin influenc undertak subsidiari undertak mean subsidiari undertak mean articl direct eec undertak opinion compet author parent undertak effect exercis domin influenc subsidiari subsidiari undertak consid subsidiari parent undertak head undertak particip mean particip mean articl sentenc direct eec hold directli indirectli vote right capit undertak particip undertak mean undertak parent undertak undertak hold particip relat undertak mean subsidiari undertak particip held insur hold compani mean parent undertak main busi acquir hold particip subsidiari undertak subsidiari undertak exclus insur undertak reinsur undertak member countri insur undertak subsidiari undertak insur undertak mix activ insur hold compani mean parent undertak insur undertak member countri insur undertak reinsur undertak insur hold compani includ insur undertak subsidiari undertak compet author mean nation author empow law regul supervis insur undertak articl case applic supplementari supervis insur undertak addit provis direct eec eec lai rule supervis insur undertak member state provid supervis insur undertak particip undertak insur undertak reinsur undertak member countri insur undertak supplement manner prescrib articl insur undertak parent undertak insur hold compani reinsur undertak member countri insur undertak subject supplementari supervis manner prescrib articl insur undertak parent undertak mix activ insur hold compani subject supplementari supervis manner prescrib articl articl scope supplementari supervis exercis supplementari supervis accord articl impli compet author requir plai supervisori role relat member countri insur undertak insur hold compani mix activ insur hold compani reinsur undertak individu supplementari supervis account relat undertak insur undertak particip undertak insur undertak relat undertak particip undertak insur undertak refer articl member state decid account supplementari supervis refer articl undertak regist offic member countri legal impedi transfer inform prejudic provis annex point annex ii point compet author respons exercis supplementari supervis case list decid case case basi undertak account supplementari supervis refer articl undertak includ neglig interest respect object supplementari supervis insur undertak inclus financi situat undertak inappropri mislead respect object supplementari supervis insur undertak articl compet author exercis supplementari supervis supplementari supervis exercis compet author member state insur undertak receiv offici authoris articl direct eec articl direct eec insur undertak authoris member state parent undertak insur hold compani reinsur undertak member countri insur undertak mix activ insur hold compani compet author member state concern reach agreement respons exercis supplementari supervis member state compet author prudenti supervis insur undertak reinsur undertak member state requisit measur organis coordin author articl avail qualiti inform member state prescrib compet author requir insur undertak subject supplementari supervis adequ intern control mechan place product data inform relev purpos supplementari supervis member state step ensur legal impedi jurisdict prevent undertak subject supplementari supervis relat undertak particip undertak exchang inform relev purpos supplementari supervis articl access inform member state provid compet author respons exercis supplementari supervis access inform relev purpos supervis insur undertak subject supplementari supervis compet author address directli relev undertak refer articl obtain inform inform request insur undertak suppli member state provid compet author carri territori intermediari person appoint purpos spot verif inform refer paragraph insur undertak subject supplementari supervis subsidiari undertak insur undertak parent undertak insur undertak subsidiari undertak parent undertak insur undertak appli articl compet author member state specif case verifi import inform undertak situat member state relat insur undertak subsidiari undertak parent undertak subsidiari parent undertak insur undertak subject supplementari supervis compet author member state verif carri author receiv request act limit jurisdict carri verif allow author make request carri allow auditor expert carri articl cooper compet author insur undertak establish member state directli indirectli relat common particip undertak compet author member state commun request relev inform facilit exercis supervis pursuant direct commun initi inform appear essenti compet author insur undertak credit institut defin direct eec invest firm defin direct eec directli indirectli relat common particip undertak compet author author public respons supervis undertak cooper close prejudic respect respons author provid inform simplifi task framework direct inform receiv pursuant direct exchang inform compet author provid direct subject oblig profession secreci defin articl direct eec articl direct eec articl intra group transact member state provid compet author exercis gener supervis transact insur undertak relat undertak insur undertak ii particip undertak insur undertak iii relat undertak particip undertak insur undertak insur undertak natur person hold particip insur undertak relat undertak ii particip undertak insur undertak iii relat undertak particip undertak insur undertak transact concern loan guarante balanc sheet transact element elig solvenc margin invest reinsur oper agreement share cost end member state requir annual report insur undertak compet author signific transact provid paragraph basi inform appear solvenc insur undertak jeopardis compet author measur level insur undertak articl adjust solvenc requir case refer articl member state requir adjust solvenc calcul carri accord annex relat undertak particip undertak relat undertak particip undertak includ calcul refer paragraph calcul refer paragraph demonstr adjust solvenc neg compet author measur level insur undertak question articl reinsur undertak insur hold compani member countri insur undertak case refer articl member state requir method supplementari supervis appli accord annex ii case refer articl calcul includ relat undertak insur hold compani reinsur undertak member countri insur undertak manner provid annex ii basi calcul compet author conclud solvenc subsidiari insur undertak insur hold compani reinsur undertak member countri insur undertak jeopardis measur level insur undertak articl implement member state adopt june law regul administr provis compli direct immedi inform commiss thereof member state provid provis refer paragraph appli supervis account financi year begin januari calendar year member state adopt measur refer paragraph refer direct accompani refer occas offici public method make refer laid member state member state commun commiss main provis nation law adopt field cover direct januari commiss submit insur committe report applic direct harmonis articl entri forc direct enter forc dai public offici journal european commun articl addresse direct address member state luxembourg octob european parliament presid gil robl council presid hostasch oj oj oj opinion european parliament octob oj council common posit march oj decis european parliament septemb oj council decis octob oj direct amend direct ec oj oj direct amend direct ec oj direct amend direct ec oj direct amend direct ec seventh council direct eec june base articl treati consolid account oj direct amend act access fourth council direct eec juli base articl treati annual account type compani oj direct amend act access council direct eec decemb coordin law regul administr provis relat take pursuit busi credit institut oj direct amend direct ec oj council direct eec invest servic secur field oj direct amend direct ec oj annex calcul adjust solvenc insur undertak choic calcul method gener principl member state provid calcul adjust solvenc insur undertak refer articl carri method point member state provid compet author authoris impos applic method set point chosen member state proportion calcul adjust solvenc insur undertak account proport share held particip undertak relat undertak proport share mean method method point proport subscrib capit held directli indirectli particip undertak method point percentag establish consolid account whichev method relat undertak subsidiari undertak solvenc deficit total solvenc deficit subsidiari account opinion compet author respons parent undertak own share capit limit strictli unambigu share capit compet author give permiss solvenc deficit subsidiari undertak account proport basi elimin doubl solvenc margin element gener treatment solvenc margin element method calcul adjust solvenc insur undertak doubl element elig solvenc margin insur undertak account calcul elimin purpos calcul adjust solvenc insur undertak method point provid amount elimin asset insur undertak repres financ element elig solvenc margin relat insur undertak asset relat insur undertak insur undertak repres financ element elig solvenc margin insur undertak asset relat insur undertak insur undertak repres financ element elig solvenc margin relat insur undertak insur undertak treatment element prejudic provis section profit reserv futur profit aris relat life assur undertak insur undertak adjust solvenc calcul subscrib paid capit relat insur undertak insur undertak adjust solvenc calcul includ calcul elig cover solvenc margin requir relat undertak subscrib paid capit repres potenti oblig part particip undertak exclud calcul subscrib paid capit particip insur undertak repres potenti oblig part relat insur undertak exclud calcul subscrib paid capit relat insur undertak repres potenti oblig part relat insur undertak particip insur undertak exclud calcul transfer compet author element elig solvenc margin relat insur undertak refer section effect made cover solvenc margin requir particip insur undertak adjust solvenc calcul element includ calcul elig cover solvenc margin requir relat undertak sum element refer section exce solvenc margin requir relat insur undertak elimin intra group creation capit calcul adjust solvenc account element elig solvenc margin aris reciproc financ insur undertak relat undertak particip undertak relat undertak particip undertak account element elig solvenc margin relat insur undertak insur undertak adjust solvenc calcul element question aris reciproc financ relat undertak insur undertak reciproc financ exist insur undertak relat undertak hold share make loan undertak directli indirectli hold element elig solvenc margin undertak compet author ensur adjust solvenc calcul frequenc laid direct eec eec calcul solvenc margin insur undertak asset liabil assess relev provis direct eec eec eec applic calcul method relat insur undertak adjust solvenc calcul carri accord gener principl method set annex case method insur undertak relat insur undertak adjust solvenc calcul carri integr relat insur undertak case success particip insur undertak particip undertak insur undertak particip undertak insur undertak adjust solvenc calcul carri level particip insur undertak relat insur undertak member state waiv calcul adjust solvenc insur undertak undertak relat undertak insur undertak authoris member state relat undertak account calcul adjust solvenc particip insur undertak insur undertak relat undertak insur hold compani reinsur undertak regist offic member state insur undertak hold insur compani reinsur undertak relat insur undertak account calcul carri member state waiv calcul adjust solvenc insur undertak relat insur undertak insur undertak reinsur undertak insur hold compani regist offic member state compet author member state concern agre grant exercis supplementari supervis compet author member state case waiver grant compet author satisfi element elig solvenc margin insur undertak includ calcul adequ distribut undertak member state provid relat insur undertak regist offic member state insur undertak adjust solvenc calcul carri calcul account respect relat undertak solvenc situat assess compet author member state relat reinsur undertak calcul adjust solvenc insur undertak particip undertak reinsur undertak relat reinsur undertak treat sole purpos calcul analog relat insur undertak appli gener principl method annex end notion solvenc requir establish relat reinsur undertak basi rule laid articl direct eec articl direct eec event signific difficulti appli rule compet author permit notion life solvenc requir calcul basi result set articl direct eec element found articl direct eec articl direct eec recognis elig notion solvenc margin asset liabil assess rule laid direct direct eec intermedi insur hold compani calcul adjust solvenc insur undertak hold particip insur undertak relat reinsur undertak insur undertak member countri insur hold compani situat intermedi insur hold compani account sole purpos calcul undertaken accord gener principl method annex insur hold compani treat insur undertak subject solvenc requir subject condit laid articl direct eec articl direct eec respect element elig solvenc margin relat insur reinsur undertak regist offic member countri relat member countri insur undertak calcul adjust solvenc insur undertak particip undertak member countri insur undertak treat sole purpos calcul analog relat insur undertak appli gener principl method annex member countri undertak regist offic make subject authoris impos solvenc requir compar laid direct eec eec take account element cover requir member state provid calcul account undertak solvenc requir element elig satisfi requir laid member countri question relat member countri reinsur undertak notwithstand section calcul adjust solvenc insur undertak particip undertak reinsur undertak regist offic member countri subject condit set point member state provid calcul account undertak fund requir element elig satisfi requir laid member countri question insur undertak member countri subject provis notion fund requir relat reinsur undertak element elig satisfi notion requir calcul undertak question relat insur undertak member countri avail inform inform calcul adjust solvenc insur undertak relat undertak regist offic member state member countri compet author reason book undertak particip insur undertak deduct element elig adjust solvenc margin case unrealis gain connect particip allow element elig adjust solvenc margin calcul method method deduct aggreg method adjust solvenc situat particip insur undertak differ sum element elig solvenc margin particip insur undertak proport share particip insur undertak element elig solvenc margin relat insur undertak ii sum book particip insur undertak relat insur undertak solvenc requir particip insur undertak proport share solvenc requir relat insur undertak particip relat insur undertak consist wholli part indirect ownership item ii incorpor indirect ownership take account relev success interest item ii includ proport share element elig solvenc margin relat insur undertak solvenc requir relat insur undertak method requir deduct method adjust solvenc particip insur undertak differ sum element elig solvenc margin particip insur undertak ii sum solvenc requir particip insur undertak proport share solvenc requir relat insur undertak valu element elig solvenc margin particip mean direct valu equiti method accord option set articl direct eec method account consolid base method calcul adjust solvenc particip insur undertak carri basi consolid account adjust solvenc particip insur undertak differ element elig solvenc margin calcul basi consolid data sum solvenc requir particip insur undertak proport share solvenc requir relat insur undertak base percentag establish consolid account solvenc requir calcul basi consolid data provis direct eec eec eec appli calcul element elig solvenc margin solvenc requir base consolid data council direct eec decemb annual account consolid account insur undertak oj annex ii supplementari supervis insur undertak subsidiari insur hold compani reinsur undertak member countri insur undertak case insur undertak refer articl subsidiari insur hold compani reinsur undertak member countri insur undertak establish member state compet author ensur method annex appli consist manner compet author exercis supplementari supervis frequenc laid direct eec eec calcul solvenc margin insur undertak member state waiv calcul provid annex regard insur undertak insur undertak relat undertak insur undertak account calcul provid annex carri undertak insur undertak insur undertak authoris member state parent undertak insur hold compani reinsur undertak member countri insur undertak insur undertak account calcul provid annex carri undertak insur undertak insur undertak authoris member state parent undertak insur hold compani reinsur undertak member countri insur undertak agreement grant exercis supplementari supervis cover annex supervisori author member state conclud accord articl case success particip insur hold compani reinsur undertak own insur hold compani reinsur undertak member countri insur undertak member state appli calcul provid annex level ultim parent undertak insur undertak insur hold compani reinsur undertak member countri insur undertak compet author ensur calcul analog annex carri level insur hold compani reinsur undertak member countri insur undertak analog consist appli gener principl method annex level insur hold compani reinsur undertak member countri insur undertak sole purpos calcul parent undertak treat insur undertak subject solvenc requir insur hold compani notion solvenc requir provid section annex reinsur undertak provid section annex reinsur undertak regist offic member countri solvenc requir determin principl section annex member countri insur undertak subject condit laid articl direct eec articl direct eec element elig solvenc margin avail inform inform calcul provid annex relat undertak regist offic member state member countri compet author reason book undertak particip undertak deduct element elig calcul provid annex case unrealis gain connect particip allow element elig calcul