5.

Undertakings which on the following dates pursued simultaneously both life and non-life insurance activities covered by this Directive may continue to pursue those activities simultaneously, provided that each activity is separately managed in accordance with Article 74: 1 January 1981 for undertakings authorised in Greece; 1 January 1986 for undertakings authorised in Spain and Portugal; 1 January 1995 for undertakings authorised in Austria, Finland and Sweden; 1 May 2004 for undertakings authorised in the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovakia, and Slovenia; 1 January 2007 for undertakings authorised in Bulgaria and Romania; 15 March 1979 for all other undertakings. The home Member State may require insurance undertakings to cease, within a period to be determined by that Member State, the simultaneous pursuit of life and non-life insurance activities in which they were engaged on the dates referred to in the first subparagraph.

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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.