lexiara

art_19__continuation__2

First Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance · European Union

FOR POLICIES ON WHICH THE CAPITAL AT RISK IS NOT A NEGATIVE FIGURE , A 0,3 % FRACTION OF SUCH CAPITAL UNDERWRITTEN BY THE UNDERTAKING SHALL BE MULTIPLIED BY THE RATIO , FOR THE LAST FINANCIAL YEAR , OF THE TOTAL CAPITAL AT RISK RETAINED AS THE UNDERTAKING'S LIABILITY AFTER RE-INSURANCE CESSIONS AND RETROCESSIONS TO THE TOTAL CAPITAL AT RISK GROSS OF RE-INSURANCE ; THAT RATIO MAY IN NO CASE BE LESS THAN 50 % .

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Source: EUR-Lex (Cellar) · retrieved 2026-10-29 · Text as adopted (Official Journal); later amendments are not incorporated in this text.