Second Life Insurance Directive
E554128
The Second Life Insurance Directive was a European Union legislative framework that previously governed life insurance regulation before being superseded by the more comprehensive Solvency II regime.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Second Life Insurance Directive canonical | 1 |
Statements (43)
| Predicate | Object |
|---|---|
| instanceOf |
EU insurance law instrument
ⓘ
European Union directive ⓘ |
| affects |
cross‑border provision of life insurance services within the EU
ⓘ
life insurance companies operating in the EU ⓘ |
| aimsToEnsure |
financial soundness of life insurance undertakings
ⓘ
stability of the EU insurance market ⓘ |
| appliesTo | life insurance undertakings established in EU Member States ⓘ |
| basedOnPrinciple |
home country control
ⓘ
minimum harmonisation ⓘ single licence for cross‑border services within the EU ⓘ |
| characterizedAs | pre‑Solvency II life insurance regulatory framework ⓘ |
| geographicalScope | European Union Member States NERFINISHED ⓘ |
| historicalRole | foundation for later risk‑based solvency reforms in the EU ⓘ |
| implementedBy | national legislation of EU Member States ⓘ |
| legalDomain |
financial services regulation
ⓘ
insurance regulation ⓘ |
| objective |
establishment of common prudential standards for life insurers
ⓘ
harmonisation of life insurance regulation in the EU ⓘ protection of policyholders and beneficiaries ⓘ |
| partOf | European Union insurance regulatory framework ⓘ |
| policyArea |
consumer protection in financial services
ⓘ
internal market ⓘ |
| precedes | Solvency II Directive NERFINISHED ⓘ |
| regulates | life insurance sector in the European Union ⓘ |
| relevance | provides historical context for the development of Solvency II ⓘ |
| replacedBy | risk‑based Solvency II regime ⓘ |
| requires |
authorization of life insurers by competent home supervisory authority
ⓘ
establishment of technical provisions to cover insurance liabilities ⓘ investment of assets in a prudent manner ⓘ maintenance of adequate solvency margins ⓘ |
| scope |
authorization of life insurance undertakings
ⓘ
information duties towards policyholders ⓘ investment rules for assets covering technical provisions ⓘ prudential supervision of life insurance undertakings ⓘ solvency requirements for life insurance undertakings ⓘ technical provisions for life insurance contracts ⓘ |
| setsOut |
conditions for operating life insurance business in the EU
ⓘ
rules on supervision of branches and cross‑border activities ⓘ |
| supersededBy | Solvency II Directive NERFINISHED ⓘ |
| typeOfInsuranceCovered |
annuities
ⓘ
endowment policies ⓘ life assurance ⓘ other long‑term savings‑related insurance products ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.