Article 5

In regard to non-life insurance, this Directive shall not apply to the following operations: capital redemption operations, as defined by the law in each Member State; operations of provident and mutual benefit institutions whose benefits vary according to the resources available and in which the contributions of the members are determined on a flat-rate basis; operations carried out by organisations not having a legal personality with the purpose of providing mutual cover for their members without there being any payment of premiums or constitution of technical reserves; or export credit insurance operations for the account of or guaranteed by the State, or where the State is the insurer.

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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.