Activities of Sahra WAGENKNECHT related to 2007/0143(COD)
Plenary speeches (1)
Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)
Amendments (21)
Amendment 150 #
Proposal for a directive
Article 27 – paragraph -1 (new)
Article 27 – paragraph -1 (new)
(-1) The main objective of supervision is to protect and preserve the interests of policyholders and the beneficiaries of insurance payments.
Amendment 151 #
Proposal for a directive
Article 27
Article 27
Member States shall ensure that the supervisory authorities are provided with the necessary means to achieve the main objective of supervision, namely the protection of policyholders and beneficiaries.
Amendment 156 #
Proposal for a directive
Article 27 – paragraph 1 a (new)
Article 27 – paragraph 1 a (new)
(1a) The European Parliament shall in consultation with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) examine whether a supervisory authority has the necessary means. If the European Parliament finds that only insufficient means are available the undertakings supervised by the authority concerned shall be required to support that authority in the acquisition of the necessary means.
Amendment 165 #
Proposal for a directive
Article 33 – paragraph 1
Article 33 – paragraph 1
1. Member States shall require every insurance and reinsurance undertaking whose head office is situatedoperating in their territory to produce an annual account, covering all types of operation, of its financial situation, solvency and, as regards cover for risks listed in class 18 in point A of Annex I, other resources available to them for meeting their liabilities, where their laws provide for supervision of such resources.
Amendment 166 #
Proposal for a directive
Article 33 – paragraph 3 – subparagraph 1
Article 33 – paragraph 3 – subparagraph 1
3. Member States shall require insurance and reinsurance undertakings whose head office is situatedoperating in their territories to submit periodically the returns, together with statistical documents, which are necessary for the purposes of supervision.
Amendment 171 #
Proposal for a directive
Article 36 – paragraph 2 – point f a (new)
Article 36 – paragraph 2 – point f a (new)
(fa) compliance with the transparency requirements as defined in Chapter IV, Section 3;
Amendment 184 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 2
Article 43 – paragraph 1 – subparagraph 2
That risk management system shall be well integrated into the organisational structure of the insurance or reinsurance undertaking. It must be objective and independent of other operational activities. It shall contain contingency plans.
Amendment 194 #
Proposal for a directive
Article 46 – paragraph 2 – subparagraph 1
Article 46 – paragraph 2 – subparagraph 1
2. The internal audit function shall include the examination of the compliance of the activities of an insurance and reinsurance undertaking with all its internal strategies, processes and reporting procedures. Examination shall in particular cover the activity of the risk management system under Article 43 and the actuarial function under Article 47.
Amendment 199 #
Proposal for a directive
Article 47 – paragraph 2 a (new)
Article 47 – paragraph 2 a (new)
(2a) Management of the actuarial function must be objective and independent of other operational activities.
Amendment 200 #
Proposal for a directive
Article 48 – paragraph 1
Article 48 – paragraph 1
1. Member States shall ensure that, when insurance and reinsurance undertakings outsource critical or important operational functions or any insurance or reinsurance activities or the performance of financial guarantees, the undertakings remain fully responsible for discharging all of their obligations under this Directive.
Amendment 204 #
Proposal for a directive
Article 50 - paragraph 1 – subparagraph 2- introductory part
Article 50 - paragraph 1 – subparagraph 2- introductory part
That report shall contain the following information , either in full or by way of references to equivalent information disclosed publicly under other legal or regulatory requirementin full, clearly set out in a standard document and easily accessible to policy-holders and other interested parties:
Amendment 207 #
Proposal for a directive
Article 50 - paragraph 2 - subparagraph 3
Article 50 - paragraph 2 - subparagraph 3
Amendment 212 #
Proposal for a directive
Article 58 – paragraph 2
Article 58 – paragraph 2
(2) The competent supervisory authorities may oppose the proposed acquisition only if there are reasonable grounds for doing so on the basis of the criteria set out in paragraph 1 or if the information provided by the proposed acquirer is incomplete.
Amendment 213 #
Proposal for a directive
Article 58 – paragraph 3
Article 58 – paragraph 3
Amendment 254 #
Proposal for a directive
Article 78 – paragraph 1
Article 78 – paragraph 1
When calculating technical provisions, insurance and reinsurance undertakings shall take account of the value and quality of financial guarantees and any contractual options included in insurance and reinsurance policies
Amendment 260 #
Proposal for a directive
Article 85 - paragraph 1 – point h a (new)
Article 85 - paragraph 1 – point h a (new)
(ha) Assessment of different guarantee qualities with regard to the financial guarantees to be taken into account under Article 78.
Amendment 276 #
Proposal for a directive
Article 90
Article 90
In so far as authorised under national law, realised profits appearing as surplus funds in the statutory annual accounts shall not be considered as insurance and reinsurance liabilities, to the extent that these surplus funds may be used to cover any losses which may arise and where they have not been made available for distribution to policyholders and beneficiaries. or earmarked for compulsory distribution.
Amendment 298 #
Proposal for a directive
Article 96 – point 1
Article 96 – point 1
(1) surplus funds falling under Article 90 shall be classified in Tier 1; if the crediting of these funds is subject to a regulatory proviso, they shall be classified in Tier 2;
Amendment 353 #
Proposal for a directive
Article 104 – paragraph 4 – subparagraph 1
Article 104 – paragraph 4 – subparagraph 1
4. Each of the risk modules referred to in paragraph 1 shall be calibrated using a Value-at-Risk measure, with a 99.5% confidence level of 99.5% or, in the case of life assurance undertakings, 99.8%, over a one -year period.
Amendment 400 #
Proposal for a directive
Article 127 – paragraph 1 – point a
Article 127 – paragraph 1 – point a
(a) it shall be calculated in a clear and simple manner, and in such a way as to ensure that the calculation can be audited or verified by a court; mathematically, it shall be determined independently of the Solvency Capital Requirement;
Amendment 412 #
Proposal for a directive
Article 127 – paragraph 1 – point c
Article 127 – paragraph 1 – point c
(c) the level of the Minimum Capital Requirement shall be calibrated to the Value-at-Risk of the basic own funds of an insurance or reinsurance undertaking subject to a confidence level in the range of 80% to 90of 95% over a one-year period;