Insurance companies may need a DNO to reduce their equity capital by paying back capital or distributing reserves, or making dividend payments. This DNO requirement applies only if the insurance company at the moment of making these payments or distributions does not comply with the solvency capital requirement, or if the insurance company is expected to not (or no longer) be able to meet this requirement in the next twelve months.
DNO for acts of insurance companies (Section 3:97 of the Wft)
- Relevant for:
- ban, css, cis, emi, in, if, ppf
- 19 july 2017
For specific activities, insurance companies having their registered offices in the Netherlands need a declaration of no-objection (DNO) from DNB.