Examples of using Solvency margin in English and their translations into German
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Solvency margin and guarantee fund.
Swiss Life/Rentenanstalt's solvency margin was a strong 182% on 31 December 2002.
The solvency margin is only one aspect, albeit an important one, of the financial position of an insurance undertaking.
The current proposals would clarify, simplify, improve and update these solvency margin rules.
Insurance Solvency Margin Directive.
The competent authorities shall authorise repayment only where the institution's available solvency margin will not fall below the required level;
Insurance solvency margin rules frequently asked questions.
For this reason, capitalization is determined both on a risk-oriented basis- Swiss Solvency Test(SST)-as well as with respect to the business volume- the solvency margin.
Swiss Life/Rentenanstalt's solvency margin improved from 180% to 199% in the first half of 2003.
Comply with the prudential andfinancial obligations laid down in the insurance directivesadequate technical provisions, solvency margin.
The solvency margin will then be up to 4% of the premium reserve or 0,3% of the risk capital, where the minimum guarantee fund is exceeded.
Financial requirements are aligned with EU criteria and the solvency margin calculation is in line with the 1st Generation Directives.
The solvency margin must not be lower than a minimum amount demanded of undertakings depending on the volume of risks they underwrite, with an absolute floor, the minimum guarantee fund, also being laid down.
The opportunity costs of thecapital to be provided by shareholders to cover the solvency margin arising from the existing insurance contracts for their current maturities is charged to the PVFP.
However, in some cases the solution has consisted of accepting all or part of the reserves of contribution incomenot paid into the guarantee fund in establishing the solvency margin.
The Committee therefore concludes that the method for calculating the solvency margin for life reinsurance activities proposed in the draft directive could damage European reinsurers' competitiveness.
The competent authorities may authorise the early repayment of such loans provided application is made by the issuing institution andits available solvency margin will not fall below the required level;
These requirements include adequate technical provisions and solvency margin(Articles 15(1) and 16(1)), as well as annual accounts covering an undertaking's financial situation and solvency, and the statistical documents for supervision Articles 19(1) and 192.
The final European Commission report, dated 24 July 19975, was to a great extent based on the study carried out in the Muller report andconcluded that there might be a need to improve the solvency margin.
Assurance undertakings must, on the basis of the accounts,prepare a statement clearly identifying the items making up each solvency margin, in accordance with Article 27 of this Directive and Article 16(1) of Directive 73/239/EEC.
Whereas the list of items of which the solvency margin required by Directive 73/239/EEC may be made up must be supplemented to take account of new financial instruments and of the facilities granted to other financial institutions for the constitution of their own funds;
In the latter event the assurance undertaking must notify the competent authorities at least six months before the date of the proposed repayment,specifying the actual and required solvency margin both before and after that repayment.
Undertakings must, on the basis of the accounts,prepare a statement clearly identifying the items making up each solvency margin, in accordance with Article 18 of this Directive and Article 16(1) of the first coordination Directive non-life insurance.
The solvency margin referred to in Article 29 shall be calculated in relation to the entire business which it carries on within the Community; in such case, account shall be taken only of the operations effected by all the agencies or branches established within the Community for the purposes of this calculation;
The memorandum and articles of association must stipulatethat payments may be made from these accounts to members only insofar as this does not cause the solvency margin to fall below the required level, or, after the dissolution of the undertaking, if all the undertaking's other debts have been settled;
Where Article 26 of the First Non-Life Coordination Directive or Article 30 of the First Life Coordination Directive has been applied the special compulsory winding up shall be opened either by the supervisory authority of theMember State which is responsible for supervising the solvency margin or by the courts of that State after the supervisory authority has given its opinion or at that authority's request.
No later than one year before the repayment date, the assurance undertaking must submit to the competentauthorities for their approval a plan showing how the solvency margin will be kept at or brought to the required level at maturity, unless the extent to which the loan may rank as a component of the solvency margin is gradually reduced during at least the last five years before the repayment date.
Among these is introduced an obligation to deduct, for supervisory purposes, cross-sector holdings in undertakings amounting to 10% of their own funds/solvency margin or of 10% of the holding's own funds/solvency margin(Article 18 No. 3, 19 No. 3, 25 No. 5)from the respective own funds/solvency margin.