(32)

Article 129 is amended as follows: in paragraph 1(d), points (i), (ii) and (iii) are replaced by the following: ‘(i) EUR 2500000 for non-life insurance undertakings, including captive insurance undertakings, save in the case where all or some of the risks included in one of the classes 10 to 15 listed in Part A of Annex I are covered, in which case it shall be no less than EUR 3700000; (ii) EUR 3700000 for life insurance undertakings, including captive insurance undertakings; (iii) EUR 3600000 for reinsurance undertakings, except in the case of captive reinsurance undertakings, in which case the Minimum Capital Requirement shall be not less than EUR 1200000;’; in paragraph 3, the second subparagraph is replaced by the following: ‘Member States shall allow their supervisory authorities, for a period ending no later than 31 December 2017, to require an insurance or reinsurance undertaking to apply the percentages referred to in the first subparagraph exclusively to the undertaking's Solvency Capital Requirement calculated in accordance with Chapter VI, Section 4, Subsection 2.’; in paragraph 4, the following subparagraph is inserted after the first subparagraph: ‘For the purposes of calculating the limits referred to in paragraph 3, undertakings shall not be required to calculate the Solvency Capital Requirement on a quarterly basis.’; in paragraph 5, the first subparagraph is replaced by the following: ‘5. The Commission shall submit to the European Parliament and the Council by 31 December 2020 a report on Member States' rules and supervisory authorities' practices adopted pursuant to paragraphs 1 to 4.’;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-20 · Text as adopted (Official Journal); later amendments are not incorporated in this text.