European Union
A number of substantial changes are to be made to First Council Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance(3); Council Directive 78/473/EEC of 30 May 1978 on the coordination of laws, regulations and administrative provisions relating to Community co-insurance(4); Council Directive 87/344/EEC of 22 June 1987 on the coordination of la
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This part explains the Solvency II framework for insurance and reinsurance undertakings, including supervision, authorisation, solvency requirements, and some scope exclusions.