Activities of Gay MITCHELL related to 2007/0143(COD)
Plenary speeches (1)
Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)
Amendments (6)
Amendment 72 #
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) References in this Directive to insurance or reinsurance undertakings, should include captive insurance and captive reinsurance undertakings, except where specific provision is made for those undertakings.
Amendment 76 #
Proposal for a directive
Recital 12 a (new)
Recital 12 a (new)
(12a) In particular, the Solvency II regime should take account of the specific nature of captive insurance and reinsurance undertakings. As those undertakings cover only risks associated with the industrial or commercial group to which they belong, appropriate approaches should be provided in line with the principle of proportionality to reflect the nature, scale and complexity of their business.
Amendment 143 #
Proposal for a directive
Article 13 – point 1 a (new)
Article 13 – point 1 a (new)
(1a) 'captive insurance undertaking' means an insurance undertaking owned either by a financial undertaking other than an insurance or reinsurance undertaking or a group of insurance or reinsurance undertakings, or by a non- financial undertaking, the purpose of which is to provide insurance cover exclusively for the risks of the undertaking or undertakings to which it belongs or of an undertaking or undertakings of the group of which the captive insurance undertaking is a member;
Amendment 259 #
Proposal for a directive
Article 85 – paragraph 1 – point h
Article 85 – paragraph 1 – point h
(h) where necessary, simplified methods and techniques to calculate technical provisions, in order to ensure the actuarial and statistical methodologies referred to in point (a) and (d) are proportionate to the nature, scale and complexity of the risks supported by insurance and reinsurance undertakings including captive insurance and reinsurance undertakings.
Amendment 388 #
Proposal for a directive
Article 109 – paragraph 1 – subparagraph 1 – point j a (new)
Article 109 – paragraph 1 – subparagraph 1 – point j a (new)
(ja) the simplified calculations provided for specific sub-modules and risk modules, as well as the criteria that captive insurance and reinsurance undertakings are required to meet in order to be entitled to use each of these simplifications, as set out in Article 108.
Amendment 417 #
Proposal for a directive
Article 127 – paragraph 1 – point d
Article 127 – paragraph 1 – point d
(d) it shall have an absolute floor of 1 0: (i)EUR 2 200 000 EUR for non-life insurance and reinsurance undertakings and 2 000 000 EUR for life insurance undertakings. undertakings, save in the event that all or some of the risks included in one of the classes10 to 15 listed in point A of Annex 1 are covered, in which case it shall be no less than EUR 3 200 000, (ii) EUR 3 200 000 for life insurance undertakings, (iii) EUR 3 000 000 for reinsurance undertakings, except in the case of captive reinsurance undertakings, in which case the minimum capital requirement shall be no less than EUR 1 000 000.