preamble_16

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

WHEREAS , AS REGARDS TECHNICAL RESERVES , INCLUDING MATHEMATICAL RESERVES , THE SAME RULES MAY BE ADOPTED AS IN THE CASE OF NON-LIFE INSURANCE , NAMELY , THEY MUST BE LOCALIZED IN THE COUNTRY WHERE ACTIVITIES ARE CARRIED ON AND THE RULES OF THAT COUNTRY ARE TO GOVERN THE METHODS OF CALCULATION , THE DETERMINATION OF INVESTMENT CATEGORIES AND THE VALUATION OF ASSETS ; WHEREAS , ALTHOUGH IT IS DESIRABLE THAT THESE VARIOUS SUBJECTS SHOULD BE COORDINATED , THIS IS NOT ESSENTIAL FOR THE PURPOSES OF THIS DIRECTIVE AND MAY BE CARRIED OUT SUBSEQUENTLY ;

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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.