(a)

Directive (EU) 2025/2 of the European Parliament and of the Council of 27 November 2024 amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks and group and cross-border supervision, and amending Directives 2002/87/EC and 2013/34/EU (Text with EEA relevance) · European Union

in paragraph 1, the following point is added: ; the insurance or reinsurance undertaking applies one of the transitional measures referred to in Articles 308c and 308d and all of the following conditions are met: the undertaking would not comply with the Solvency Capital Requirement without application of the transitional measure; the undertaking has failed to submit to the supervisory authority either the initial phasing-in plan within the required period as set out in Article 308e, second paragraph, or the required annual report as set out in the third paragraph of that Article.’

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.