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Insurance activities requiring authorisation

Relevant for:
in
Validity:
valid 
Date:
26 june 2017
Status
Factsheet
Reference:
01866
Author:
DNB

Anyone seeking to provide insurance services on a commercial basis in the Netherlands must either hold the appropriate authorisation issued by DNB or be exempted from the authorisation requirement. There are two types of authorisation: Solvency II authorisation and Basic authorisation.

There have been two types of authorisation since the Solvency II Directive (2009/138/EC) entered into force. Insurers under the scope of the Solvency II regime require Solvency II authorisation, while limited risk insurers can apply for Basic authorisation only. They are, however, free to apply for Solvency II authorisation on a voluntary basis. Only the smallest non-life and funeral expenses and benefits in kind insurers are exempted from the authorisation requirement. The following key principles apply.

  • All life and non-life insurance companies come under the scope of the Solvency II regime, unless they meet specific requirements, in which case they may qualify for Basic authorisation.
  • Reinsurers always come under the scope of the Solvency II regime and must apply for Solvency II authorisation.
  • Funeral expenses and benefits in kind insurers never come under the scope of the Solvency II, and can apply for Basic authorization.

You can use the flowchart to find out for which type of authorisation your company should apply.

Information on applying for authorisation as an insurer

  • Authorisation as an insurer - overview
  • Definition of insurance
  • Four categories of insurers
  • a - Solvency II authorisation
  • b - Basic authorisation
  • Exemption from the authorisation requirement

Applying for authorisation

  • Applying for authorisation
  • Application form and notes to the form
  • Application process (10 steps)
  • Application processing timelines
  • Application fees
  • How to apply successfully

Background information

  • Prohibition on operating as an insurer without authorisation
  • Health insurance
  • Public register
  • EEA insurers
  • Legislation and regulations governing market access for insurers

News and contact

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  • Contact
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Laws and EU Directives
  • CRD IV en CRR
  • Act on the Supervision of Trust Offices (Wet toezicht trustkantoren – Wtt)
  • Anti-Money Laundering and Anti-Terrorist Financing Act
  • Payment services in the internal market
  • Regulations establishing European Supervisory Authorities
Related topics
  • Solvency II: General notes
  • Good practice document for outsourcing by insurance companies
  • Declarations of no-objection (DNOs) for group companies
  • Initial screening for second-tier senior officers
more
Related Q&A
  • Account information services provision and other business activities
  • [For consultation][Closed] Draft Q&A on recognition of risk mitigation techniques using reinsurance contracts in the Solvency II Standard Formula
  • Assessment Framework for DNB Information Security Examination
  • Procedure for international individual value transfer to a non-EU/non-EEA institution
more
Related Downloads
  • List of General good provisions - insurance undertakings
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