Regulation on the capital adequacy of insurance undertakings (capital equipment regulation)

Unofficial table of contents

KapAusstV 1983

Date of completion: 13.12.1983

Full quote:

" Capital Equipment Regulation of 13 December 1983 (BGBl. 1451), as last amended by Article 1 of the Regulation of 16 August 2013 (BGBl I). P. 3275).

Status:

Last amended by Art. 1 V v. 16.8.2013 I 3275

For more details, please refer to the menu under Notes

Footnote

(+ + + Text proof applicable: 22.10.1987 + + +) Unofficial table of contents

Input formula

Pursuant to Section 53c (2) and Section 156a (2) of the Insurance Supervision Act (Insurance Supervision Act), as amended by the 13. October 1983 (BGBl. I p. 1261) shall be arranged:

First section
Rules applicable to all insurance savings other than life assurance

Unofficial table of contents

§ 1

(1) The level of the solvency margin shall be determined either by the annual contributions (contribution index) or by the average cost of insurance cases in the last three financial years (damage index). The respective higher index is the decisive factor. In the case of companies which essentially run credit, storm, hail or frost insurance, the average cost of insurance cases for the last seven financial years is to be used as a loss index. (2) The contribution index is calculated on the basis of the gross premiums written or earned. The respective higher amount shall be the decisive factor. The gross premiums reported in the last financial year, including ancessual services from self-deducted insurance business (total insurance business), are calculated together. Of these, the taxes and fees charged on the contributions as well as the contributions cancelled in the last financial year are to be deducted. Of the remaining amount, up to the sum of EUR 61.3 million, 18 of the hundred will be determined, of the amount exceeding 16 of the hundred. The sum of these results shall be multiplied by the ratio of the ratio of the last three financial years for the whole of the insurance business to the ratio of the costs of insurance cases for own account to the total insurance business. Gross expenses for insurance cases. The ratio shall be at least 50 of the hundred. In the determination of the costs of insurance cases on its own account, the insurance undertaking ' s request and with the consent of the supervisory authority shall also take into account amounts as a reinsurance portion which shall be taken into consideration by the insurance undertaking concerned. Business operations of state-approved insurance companies within the meaning of Article 46 of Directive 2005 /68/EC of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending the Directives 73 /239/EEC, 92 /49/EEC and Directives 98 /78/EC and 2002 /83/EC (OJ L 73, 27.3.1998, p. EU No L 323 p. 1). Claims for insurance purpose companies established in a third country may only be taken into account if the insurance purpose vehicle in the country of residence is in accordance with the requirements of Section 121g of the Insurance Supervision Act (2a) For the insurance division No. 11 to 13 mentioned in the Annex to the Insurance Supervision Act, part A of the Insurance Supervision Act shall be subject to the following conditions: the contributions increased by 50 from the hundred. The allocation of contributions to these insurance classes may be carried out with the agreement of the supervisory authority on the basis of statistical procedures. (3) For the loss index, the gross payments for insurance cases in the case referred to in paragraph 1 shall be: the relevant period and the gross provisions for outstanding insurance cases for the whole of the insurance business which have not yet been completed at the end of the last financial year. Of this sum, the revenue generated during the period referred to in paragraph 1, as well as the gross provisions at the beginning of this period, shall be for insurance cases for the whole of the whole of the period of insurance Insurance business to be deducted. The allocation of gross payments for insurance cases to be determined in accordance with sentences 1 and 2, gross provisions for insurance cases not yet uncovered and income from regresses to those in the annex to the Insurance Supervision Act in part A mentioned insurance division No 11 to 13 may be carried out with the consent of the supervisory authority on the basis of statistical procedures. The remaining amount, which shall be increased by 50 per cent for the insurance savings referred to in the preceding sentence, shall be divided by the corresponding number of years. Up to the sum of EUR 42.9 million, 26 of the result will be determined by the hundred and by the amount of 23 of the hundred that exceeds this figure. (4) The percentages referred to in the fifth sentence of paragraph 2 and the fifth sentence of paragraph 3 shall be reduced to one third in so far as health insurance schemes are operated in the manner of life assurance, if:

1.

the contributions are calculated on the basis of probable signs according to actuarial principles,

2.

an ageing reserve is being formed,

3.

an appropriate security surcharge is levied; and

4.

in accordance with the General Insurance Conditions

a)

the right of dismissal of the insurance undertaking is excluded at the latest after the end of the third year of insurance and

b)

an increase in the contributions or a reduction of the benefits with effect for existing insurance is reserved.

(5) The sum of the gross payments for insurance cases which are included in the calculation of the damage index shall be equal to the cost of the insurance sector referred to in the Annex to the Insurance Supervision Act in Part A, No 18, of the Insurance Supervisory Act. (6) If the required solvency margin calculated in accordance with paragraphs 2 to 5 is lower than the required solvency margin of the previous year, the required solvency margin shall be equal to the required solvency margin. Solvency margin shall be at least equal to the amount which results if the requested Solvency margin of the previous year with the quotient of

1.

the higher value resulting from net repayment of unprocessed insurance cases and 50 of the hundred of the gross repayment for unprocessed claims at the end of the last financial year; and

2.

the higher value from the net back-up for unprocessed insurance cases and 50 of the hundred of the gross reset for unprocessed insurance cases at the beginning of the last financial year is multiplied. The quotient may not be set at most 1.

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§ 2

(1) The guarantee fund, on which own funds are not credited in accordance with Article 53c (3), first sentence, No. 5 (a) and (b) of the Insurance Supervision Act, shall be at least 2.5 million euro. (2) The minimum amount of the guarantee fund shall be increased to 3.7 EUR million where risks are covered which are part of the insurance business covered by the Insurance Supervision Act in Part A nos. 10 to 15. (2a) The insurance undertaking shall also cover the reinsurance undertaking referred to in Article 1 (2) of the Insurance Directive. Insurance business, the guarantee fund for the whole insurance business at least EUR 3.4 million if

1.

the contributions from the insurance business taken into account exceed 10% of the company's total contributions,

2.

the contributions from the insurance business taken into account exceed EUR 50 million, or

3.

the technical provisions resulting from the insurance business taken into account exceed 10% of the total technical provisions of the undertaking in question.

(3) In the case of mutual insurance associations, the minimum amount of the guarantee fund is reduced by 25 per cent. (4) For mutual insurance associations, their annual contributions in three consecutive years shall be the amount of 5 By way of derogation from paragraph 1, the guarantee fund shall, in conjunction with paragraph 3, be at least 600 000 euro. Where the risks referred to in paragraph 2 are covered, the minimum guarantee fund shall, by way of derogation from paragraph 2 in conjunction with paragraph 3 900 000, be covered. Unofficial table of contents

§ 3

The amount of the annual contributions, which is determined in accordance with Article 156a (1), first sentence, No. 2 of the Insurance Supervision Act, shall be set at EUR 1.9 million.

Second section
Provisions on life assurance

Subsection 1
Life insurance with the exception of the pension and death penalty

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§ 4

(1) In the case of capital and pension insurance, the solvency margin shall be:

a)

4 from the hundred of the cover provision and the contribution surcharges (gross) reduced by the shares (gross) from the insurance business (total insurance business) completed and covered by itself (total insurance business), multiplied by the Ratio which, in the last financial year for the whole of the insurance business, is based on the amount of the cover provision and the contribution surcharges reduced by the shares-each less the shares in return-to the amount of the total insurance business. Cover reserve and reduced cost shares Contribution surcharges (gross), but at least 85 of the hundred, plus

b)

0.3 of the hundred of the risk capital from the total insurance business (gross), multiplied by the ratio of the total of the insurance business in the last financial year from the risk capital less the amount of the risk capital covered by the reinsurance undertaking. Share of the risk capital (gross), but at least 50 of the hundred. In the case of short-term insurance on the case of death with a contractual maximum term of three years, the percentage shall be reduced from 0.3 to 0.1 and, for a contractual term of more than three years, and up to five years from 0.3 to 0.15. In the case of one-year insurance on the case of death, the annual renewal of which is contractually agreed for a certain period of time, the total contractual term of the contract shall be based on. The risk capital of an insurance contract is the difference between the promised sum of insurance, which would be due at the date of the occurrence of the insurance charge on the date of the calculation of the solvency margin, and the sum of the sum of the total sum of the insurance contract. the existing cover provision and the contribution surcharges reduced by the shares (gross respectively). Where, in the case of insured persons, different events may trigger the insurer's obligations, a risk capital shall be determined separately for each event, assuming that the relevant event shall be immediately or immediately; if an appointment has been fixed by contract, entry into the contract. Of the amounts thus determined, the highest is to be used as risk capital for the insured person. The risk capital of a contract is the sum of the risk capital for the persons insured in this contract. In the case of deferred benefits, the cash value shall be replaced by the sum of the insured sum. The cash value of deferred benefits shall be calculated on the basis of the same accounting principles as cover provision, but without taking into account an excretion order. If, in the event of any of the events to be taken into account, the obligation to pay contributions up to the entry of the service obligation shall be deducted, the cash value shall be deducted from the cash value of the deferred benefits, for the calculation of which the amount shall be calculated in accordance shall apply. Approximation procedures for the calculation of risk capital shall be allowed if they are not able to produce lower amounts than the exact calculation. Negative risk capital shall be zero.

In the context of the calculations referred to in points (a) and (b) of the first sentence, the insurance undertaking ' s request, with the consent of the supervisory authority, shall also take into account such amounts as the reinsurance component authorised by the undertaking to operate the business For the purposes of Article 46 of Directive 2005 /68/EC, it is possible to require the appropriate companies. Claims for insurance purpose companies established in a third country may only be taken into account if the insurance purpose vehicle in the country of residence is in accordance with the requirements of Section 121g of the Insurance Supervision Act (1a) A risk capital referred to in paragraph 1 (b) shall not be determined, but an equivalent shall be granted instead of the Calculation method, which shall take the risk of the undertaking in a suitable manner To take account of the way. The calculation procedure shall be notified to the supervisory authority at the latest upon presentation of the solvency overview. (2) In the case of funds-linked insurance, paragraph 1 (a) shall apply only in so far as the insurance undertaking takes on a risk of investment. In so far as the undertaking does not assume any investment risk but the duration of the contract exceeds five years and the administrative cost surcharge for more than five years calculated in the contribution shall be determined, it shall be replaced by 4 of the hundred in accordance with paragraph 1, point (a), of the hundred. If the undertaking does not bear any investment risk and the administrative cost surcharge set out in the contribution is not fixed for a period of more than five years, the solvency margin shall be equal to 25 of the hundred of the corresponding, Net administrative expenses attributable to these contracts in the last financial year. Paragraph 1 (b) shall apply in addition only in so far as the insurance undertaking assumes a risk of death. (3) For additional risks to life assurance (Article 6 (4) of the Insurance Supervision Act), the solvency margin shall be determined in accordance with the contributions to the additional risks. The provisions of § 1 para. 2 on the contribution index apply accordingly. (4) In the case of capitalization transactions in accordance with § 1 para. 4 sentence 2 of the Insurance Supervision Act, the solvency margin is four of the hundred of the mathematical reserves. These are to be calculated in accordance with paragraph 1 (a). (5) In the case of tontin transactions, the solvency margin shall be one of the hundred of the Communities ' assets. (6) In the case of transactions in the management of utilities pursuant to Article 1 (4) (3) and (4) of the Insurance supervision law shall determine the solvency margin referred to in paragraph 1 (a) in so far as the undertaking assumes the risk of capital investment. However, in so far as the undertaking does not bear a capital investment risk, but the duration of the administrative contract with the establishment of administrative costs exceeds five years, the rate of 4 of the hundred referred to in paragraph 1 (a 1) shall be replaced by the hundred. If the enterprise does not bear a capital investment risk and the administrative costs are not fixed for a period of more than five years, the second sentence of paragraph 2 shall apply. Unofficial table of contents

Section 4a

The first section shall apply to the life insurance business acquired in respect of the reinsurance business, where:

1.

the contributions from the insurance business taken into account exceed 10% of the company's total contributions,

2.

the contributions from the insurance business taken into account exceed EUR 50 million, or

3.

the technical provisions resulting from the insurance business taken into account exceed 10% of the total technical provisions of the undertaking in question.

Unofficial table of contents

§ 5

(1) The guarantee fund shall be at least EUR 3.7 million. (2) In the case of mutual insurance associations, the minimum amount of the guarantee fund shall be reduced by 25 per cent. Unofficial table of contents

§ 6

(1) If the cover provision has not been paid or has been subject to a lower rate than the supplement to the final cost of the contribution, the difference between the unzillmered or the only partially or partially zillmered The cover provision and the cover reserve, which would result from the payment of the surcharge for the final cost of the contribution, should be regarded as own resources, in so far as the policyholder does not rely on the difference between Claim. The rate of interest shall not be taken into account in so far as it exceeds the statutory maximum values; this shall only apply to insurance companies with approved rates, provided that the rate of interest is 35 of the thousand of the insurance sum or of the Twelftimes of the insured annual pension. The cover provision shown in the balance sheet shall be reduced by the activated claims for final expenses covered by the accounts. (2) The own funds referred to in paragraph 1 may, upon request and with the consent of the supervisory authority, be subject to the following: the required solvency margin. These own resources and the own resources referred to in Article 53c (3), first sentence, point (5) (a) of the Law, shall not be credited to the Guarantee Fund. Unofficial table of contents

§ 7

The amount of the annual contributions, which is determined in accordance with Article 156a (1) (2) of the Insurance Supervision Act, shall be set at EUR 5 million. If this amount is exceeded in three consecutive years, the provisions referred to in Article 156a (1) of the Act shall be applied from the fourth year.

Subsection 2
Pension funds

Unofficial table of contents

§ 8

(1) For the determination of the solvency margin, Article 4 (1), (1), (1a), (2), (3) and (6) shall apply accordingly unless otherwise provided in the following paragraphs. (2) (omitted) (3) For deathers whose annual contributions shall be in the last three In connection with § 4 (1) and Section 1 (2) in conjunction with Section 4 (3), the percentage of the percentages mentioned there shall be replaced by one-half of the percentages given in section 4 (1). (4) For pension funds, the annual contributions in the last three financial years have not exceeded EUR 500,000 and the The provisions of Section 4 (1) and Section 1 (2) in conjunction with Section 4 (3) have not yet been fulfilled by 23 September 2005, paragraph 2 shall apply until the percentages are fulfilled, but at the latest by 23 September 2010 accordingly. If pension funds operate cross-border activities within the meaning of Section 118c of the Insurance Supervision Act, the first sentence shall not apply. Unofficial table of contents

§ 8a

(1) For pension and death funds, the guarantee fund is at least EUR 3 million. (2) In the case of mutual insurance associations, the minimum amount of the guarantee fund is reduced by 25 per cent. (3) For pension and death penalty payments in the The legal form of the Mutual Insurance Association, whose annual contributions have not exceeded the sum of EUR 5 million in three consecutive years, shall not be subject to a minimum guarantee fund. Unofficial table of contents

§ 8b

(dropped)

Third Section
Final provisions

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§ 9

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§ 10

(dropped) Unofficial table of contents

§ 11

This Regulation shall enter into force on the day after the date of delivery. Unofficial table of contents

Final formula

The Federal Minister for Finance