Topic Authorisation Health insurance: BaFin publishes new guidance notice on the authorisation of joint-stock companies
BaFin has published a new guidance notice comprising guidelines for the authorisation of insurance joint-stock companies for the pursuit of health insurance business as primary insurance undertakings in Germany. It specifies the documents and information required by BaFin from companies in order to assess whether authorisation can be given. In addition, the guidance notice states the specificities applicable to small insurance undertakings within the meaning of section 211 of the German Insurance Supervision Act (Versicherungsaufsichtsgesetz – VAG).
The new guidance notice replaces the old version from 2006. The revision had become necessary in order to comply with the amended VAG which transposed the European supervisory regime Solvency II into German law.