4.

This Directive shall cease to apply to those insurance undertakings for which the supervisory authority has verified that all of the following conditions are met: none of the thresholds set out in paragraph 1 has been exceeded for the three previous consecutive years; and none of the thresholds set out in paragraph 1 is expected to be exceeded during the following five years. For as long as the insurance undertaking concerned pursues activities in accordance with Articles 145 to 149, paragraph 1 of this Article shall not apply.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.