EN Official Journal of the European Union C 255/9

DECISION No 1/2018 OF THE EU-SWITZERLAND JOINT COMMITTEE

of 3 July 2018

amending the Annexes and Protocols to the Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance and finding that the domestic legislation of the Contracting Parties is compatible with that Agreement

(2018/C 255/04)

THE EU-SWITZERLAND JOINT COMMITTEE,

Having regard to Article 39 and 40.3 of the Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance (1) (‘the Agreement’),

Having regard to Decision No 1/2001 of the EC-Switzerland Joint Committee of 18 July 2001 amending the Annexes and Protocols to the Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance and finding that the domestic legislation of the Contracting Parties is compatible with that Agreement (2),

Whereas:

(1) New Member States have acceded to the European Union (hereafter ‘Union’) and their accession requires some technical amendments to Annex III to the Agreement.

(2) Certain legal acts adopted by the Union and by Switzerland between 18 July 2001 and 3 July 2018 require an amendment of the Annexes and Protocols to the Agreement.

(3) After examination, certain legal acts adopted by Switzerland do not require the Agreement to be amended,

HAS ADOPTED THIS DECISION:

Article 1

Following the legal acts adopted by Switzerland and by the Union between 18 July 2001 and 3 July 2018, and in order to reflect the accession of new Member States to the Union, the Agreement is amended as follows:

(1) the list of acceptable legal forms in Part B of Annex III to the Agreement is replaced by the list in Part A of Annex III to Directive 2009/138/EC of the European Parliament and of the Council (3);

(2) Protocol No 1 to the Agreement is amended as follows: (a) Article 1 is replaced by the following: ‘Article 1 Definition of the solvency margin The solvency margin for undertakings whose head office is domiciled in the territory of the Union is the Solvency Capital Requirement, as referred to in Articles 100 and 101 of Directive 2009/138/EC of the European Parliament and of the Council (*1). The solvency margin for undertakings whose head office is domiciled in the territory of the Swiss Confederation is the Target Capital (Zielkapital), which is defined together with related concepts such as the valuation of assets and liabilities and the Risk Bearing Capital (Risikotragendes Kapital) of the Swiss Solvency Test (SST) in the Versicherungsaufsichtsgesetz (*2) (‘Insurance Supervisory Act’) and the Aufsichtsverordnung (*3) (‘Insurance Supervisory Ordinance’). (*1) Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1)." (*2) Versicherungsaufsichtsgesetz (AS 2005 5269) as last amended on 19 June 2015 (AS 2015 5339)." (*3) Aufsichtsverordnung, (AS 2005 5305) as last amended on 25 November 2015 (AS 2015 5413).’;" (b) Article 2 is deleted; (c) Article 3 is replaced by the following: ‘Article 3 Definition of the guarantee fund The guarantee fund for undertakings whose head office is domiciled in the territory of the Union is the Minimum Capital Requirement as referred to in Articles 128 and 129 of Directive 2009/138/EC. The guarantee fund for undertakings whose head office is domiciled in the territory of the Swiss Confederation is the minimal capital (lowest intervention level) in the Swiss Solvency Test.’; (d) Article 4 is deleted.

(3) paragraph 2.3 of Protocol No 3 is replaced by the following: ‘2.3. With regard to the equivalent in Swiss francs of amounts expressed in euro, the exchange value of one euro shall, for the purposes of this Agreement, be 1,14 Swiss francs.’.

Article 2

The following legal acts of the Union are compatible with the Agreement:

— Directive 2009/138/EC;

— Commission Delegated Regulation 2015/35/EU, in the version published in the Official Journal of the European Union of 17 January 2015 (4);

— Commission Implementing Regulation (EU) 2015/460, in the version published in the Official Journal of the European Union of 20 March 2015 (5);

— Commission Implementing Regulation (EU) 2015/461, in the version published in the Official Journal of the European Union of 20 March 2015 (6);

— Commission Implementing Regulation (EU) 2015/462, in the version published in the Official Journal of the European Union of 20 March 2015 (7);

— Commission Implementing Regulation (EU) 2015/498, in the version published in the Official Journal of the European Union of 25 March 2015 (8);

— Commission Implementing Regulation (EU) 2015/499, in the version published in the Official Journal of the European Union of 25 March 2015 (9);

— Commission Implementing Regulation (EU) 2015/500, in the version published in the Official Journal of the European Union of 25 March 2015 (10);

— Commission Delegated Decision (EU) 2015/1602, in the version published in the Official Journal of the European Union of 24 September 2015 (11);

— Commission Implementing Regulation (EU) 2015/2011, in the version published in the Official Journal of the European Union of 12 November 2015 (12);

— Commission Implementing Regulation (EU) 2015/2012, in the version published in the Official Journal of the European Union of 12 November 2015 (13);

— Commission Implementing Regulation (EU) 2015/2013, in the version published in the Official Journal of the European Union of 12 November 2015 (14);

— Commission Implementing Regulation (EU) 2015/2014, in the version published in the Official Journal of the European Union of 12 November 2015 (15);

— Commission Implementing Regulation (EU) 2015/2015, in the version published in the Official Journal of the European Union of 12 November 2015 (16);

— Commission Implementing Regulation (EU) 2015/2016, in the version published in the Official Journal of the European Union of 12 November 2015 (17);

— Commission Implementing Regulation (EU) 2015/2017, in the version published in the Official Journal of the European Union of 12 November 2015 (18);

— Commission Delegated Decision (EU) 2015/2290, in the version published in the Official Journal of the European Union of 9 December 2015 (19);

— Commission Delegated Decision (EU) 2016/309, in the version published in the Official Journal of the European Union of 4 March 2016 (20);

— Commission Delegated Decision (EU) 2016/310, in the version published in the Official Journal of the European Union of 4 March 2016 (21);

— Commission Implementing Regulation (EU) 2015/2450, in the version published in the Official Journal of the European Union of 31 December 2015 (22);

— Commission Implementing Regulation (EU) 2015/2451, in the version published in the Official Journal of the European Union of 31 December 2015 (23);

— Commission Implementing Regulation (EU) 2015/2452, in the version published in the Official Journal of the European Union of 31 December 2015 (24);

— Commission Implementing Regulation (EU) 2016/165, in the version published in the Official Journal of the European Union of 9 February 2016 (25);

— Commission Delegated Regulation (EU) 2016/467, in the version published in the Official Journal of the European Union of 1 April 2016 (26);

— Commission Implementing Regulation (EU) 2016/869, in the version published in the Official Journal of the European Union of 3 June 2016 (27);

— Commission Implementing Regulation (EU) 2016/1376, in the version published in the Official Journal of the European Union of 18 August 2016 (28);

— Commission Implementing Regulation (EU) 2016/1630, in the version published in the Official Journal of the European Union of 10 September 2016 (29);

— Commission Implementing Regulation (EU) 2016/1800, in the version published in the Official Journal of the European Union of 12 October 2016 (30);

— Commission Implementing Regulation (EU) 2016/1868, in the version published in the Official Journal of the European Union of 21 October 2016 (31);

— Commission Commission Implementing Regulation (EU) 2016/1976, in the version published in the Official Journal of the European Union of 16 November 2016 (32);

— Commission Implementing Regulation (EU) 2017/309, in the version published in the Official Journal of the European Union of 28 February 2017 (33);

— Commission Implementing Regulation (EU) 2017/812, in the version published in the Official Journal of the European Union of 18 May 2017 (34);

— Commission Implementing Regulation (EU) 2017/1421, in the version published in the Official Journal of the European Union of 14 September 2017 (35);

— Commission Delegated Regulation (EU) 2017/1542, in the version published in the Official Journal of the European Union of 14 September 2017 (36).

The following legal acts of the Swiss Confederation are compatible with the Agreement:

— Insurance Supervisory Act (37)

— Insurance Supervisory Ordinance (38).

Article 3

This Decision shall enter into force on the date of its adoption.

Done at Brussels, 3 July 2018. For the Joint Committee The President Nathalie BERGER

(1) OJ L 205, 27.6.1991, p. 3; AS 1992 1894.

(2) OJ L 291, 8.11.2001, p. 52; AS 2002 3056.

(3) Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1).

(4) Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 12, 17.1.2015, p. 1).

(5) Commission Implementing Regulation (EU) 2015/460 of 19 March 2015 laying down implementing technical standards with regard to the procedure concerning the approval of an internal model in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 76, 20.3.2015, p. 13).

(6) Commission Implementing Regulation (EU) 2015/461 of 19 March 2015 laying down implementing technical standards with regard to the process to reach a joint decision on the application to use a group internal model in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 76, 20.3.2015, p. 19).

(7) Commission Implementing Regulation (EU) 2015/462 of 19 March 2015 laying down implementing technical standards with regard to the procedures for supervisory approval to establish special purpose vehicles, for the cooperation and exchange of information between supervisory authorities regarding special purpose vehicles as well as to set out formats and templates for information to be reported by special purpose vehicles in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 76, 20.3.2015, p. 23).

(8) Commission Implementing Regulation (EU) 2015/498 of 24 March 2015 laying down implementing technical standards with regard to the supervisory approval procedure to use undertaking-specific parameters in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 79, 25.3.2015, p. 8).

(9) Commission Implementing Regulation (EU) 2015/499 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be used for granting supervisory approval for the use of ancillary own-fund items in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 79, 25.3.2015, p. 12).

(10) Commission Implementing Regulation (EU) 2015/500 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be followed for the supervisory approval of the application of a matching adjustment in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 79, 25.3.2015, p. 18).

(11) Commission Delegated Decision (EU) 2015/1602 of 5 June 2015 on the equivalence of the solvency and prudential regime for insurance and reinsurance undertakings in force in Switzerland based on Articles 172(2), 227(4) and 260(3) of Directive 2009/138/EC of the European Parliament and of the Council (OJ L 248, 24.9.2015, p. 95).

(12) Commission Implementing Regulation (EU) 2015/2011 of 11 November 2015 laying down implementing technical standards with regard to the lists of regional governments and local authorities, exposures to whom are to be treated as exposures to the central government in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 3).

(13) Commission Implementing Regulation (EU) 2015/2012 of 11 November 2015 laying down implementing technical standards with regard to the procedures for decisions to set, calculate and remove capital add-ons in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 5).

(14) Commission Implementing Regulation (EU) 2015/2013 of 11 November 2015 laying down implementing technical standards with regard to on standard deviations in relation to health risk equalisation systems in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 9).

(15) Commission Implementing Regulation (EU) 2015/2014 of 11 November 2015 laying down implementing technical standards with regard to the procedures and templates for the submission of information to the group supervisor and for the exchange of information between supervisory authorities in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 11).

(16) Commission Implementing Regulation (EU) 2015/2015 of 11 November 2015 laying down implementing technical standards on the procedures for assessing external credit assessments in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 16).

(17) Commission Implementing Regulation (EU) 2015/2016 of 11 November 2015 laying down the implementing technical standards with regard to the equity index for the symmetric adjustment of the standard equity capital charge in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 18).

(18) Commission Implementing Regulation (EU) 2015/2017 of 11 November 2015 laying down implementing technical standards with regard to the adjusted factors to calculate the capital requirement for currency risk for currencies pegged to the euro in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 295, 12.11.2015, p. 21).

(19) Commission Delegated Decision (EU) 2015/2290 of 12 June 2015 on the provisional equivalence of the solvency regimes in force in Australia, Bermuda, Brazil, Canada, Mexico and the United States and applicable to insurance and reinsurance undertakings with head offices in those countries (OJ L 323, 9.12.2015, p. 22).

(20) Commission Delegated Decision (EU) 2016/309 of 26 November 2015 on the equivalence of the supervisory regime for insurance and reinsurance undertakings in force in Bermuda to the regime laid down in Directive 2009/138/EC of the European Parliament and of the Council and amending Commission Delegated Decision (EU) 2015/2290 (OJ L 58, 4.3.2016, p. 50).

(21) Commission Delegated Decision (EU) 2016/310 of 26 November 2015 on the equivalence of the solvency regime for insurance and reinsurance undertakings in force in Japan to the regime laid down in Directive 2009/138/EC of the European Parliament and of the Council (OJ L 58, 4.3.2016, p. 55).

(22) Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 laying down implementing technical standards with regard to the templates for submission of information to the supervisory authorities according to Directive 2009/138/EC of the European Parliament and of the Council (OJ L 347, 31.12.2015, p. 1).

(23) Commission Implementing Regulation (EU) 2015/2451 of 2 December 2015 laying down implementing technical standards with regard to the templates and structure of the disclosure of specific information by supervisory authorities in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 347, 31.12.2015, p. 1224).

(24) Commission Implementing Regulation (EU) 2015/2452 of 2 December 2015 laying down implementing technical standards with regard to the procedures, formats and templates of the solvency and financial condition report in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 347, 31.12.2015, p. 1285).

(25) Commission Implementing Regulation (EU) 2016/165 of 5 February 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 1 January until 30 March 2016 in accordance with Directive 2009/138/EC of the European Parliament and of the Council (Solvency II) (OJ L 32, 9.2.2016, p. 31).

(26) Commission Delegated Regulation (EU) 2016/467 of 30 September 2015 amending Delegated Regulation (EU) 2015/35 concerning the calculation of regulatory capital requirements for several categories of assets held by insurance and reinsurance undertakings (OJ L 85, 1.4.2016, p. 6).

(27) Commission Implementing Regulation (EU) 2016/869 of 27 May 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2016 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (OJ L 147, 3.6.2016, p. 1).

(28) Commission Implementing Regulation (EU) 2016/1376 of 8 August 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2016 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (OJ L 224, 18.8.2016, p. 1).

(29) Commission Implementing Regulation (EU) 2016/1630 of 9 September 2016 laying down implementing technical standards with regard to the procedures for the application of the transitional measure for the equity risk sub-module in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 243, 10.9.2016, p. 1).

(30) Commission Implementing Regulation (EU) 2016/1800 of 11 October 2016 laying down implementing technical standards with regard to the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps in accordance with Directive 2009/138/EC of the European Parliament and of the Council (OJ L 275, 12.10.2016, p. 19).

(31) Commission Implementing Regulation (EU) 2016/1868 of 20 October 2016 amending and correcting Implementing Regulation (EU) 2015/2450 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Directive 2009/138/EC of the European Parliament and of the Council (OJ L 286, 21.10.2016, p. 35).

(32) Commission Commission Implementing Regulation (EU) 2016/1976 of 10 November 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September until 30 December 2016 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (OJ L 309, 16.11.2016, p. 1).

(33) Commission Implementing Regulation (EU) 2017/309 of 23 February 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2016 until 30 March 2017 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of insurance and reinsurance (OJ L 53, 28.2.2017, p. 1).

(34) Commission Implementing Regulation (EU) 2017/812 of 15 May 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2017 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (OJ L 126, 18.5.2017, p. 1).

(35) Commission Implementing Regulation (EU) 2017/1421 of 2 August 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2017 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (OJ L 204, 5.8.2017, p. 7).

(36) Commission Delegated Regulation (EU) 2017/1542 of 8 June 2017 amending Delegated Regulation (EU) 2015/35 concerning the calculation of regulatory capital requirements for certain categories of assets held by insurance and reinsurance undertakings (infrastructure corporates) (OJ L 236, 14.9.2017, p. 14).

(37) Versicherungsaufsichtsgesetz (AS 2005 5269) as last amended on 19 June 2015 (AS 2015 5339).

(38) Aufsichtsverordnung (AS 2005 5305) as last amended on 25 November 2015 (AS 2015 5413).