4.
Member States shall ensure that the competent authorities have the power to decrease the reduction, based on reinsurance, to the solvency margin as determined in accordance with Article 16a where: the nature or quality of reinsurance contracts has changed significantly since the last financial year; there is no or an insignificant risk transfer under the reinsurance contracts.
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Source: EUR-Lex (Cellar) · retrieved 2026-11-07 · Text as adopted (Official Journal); later amendments are not incorporated in this text.