WRITTEN QUESTION No. 2879/98 by Panayotis LAMBRIAS Infringement of Directive 91/674/EEC concerning insurance undertakings (SUPPLEMENTARY ANSWER)
Date: 1998-09-28
Institutions: European Parliament, LAMBRIAS
Subjects: Greece, account, consolidated account, infringement of EU law, insurance company, national implementing measure

C 27 E/8

Official Journal of the European Communities

EN

29.1.2000

(cid:145)multifunctional(cid:146) role of agriculture. This approach was confirmed in the Communication of the European
Communities to the WTO General Council of 23 July 1999 (WTO document WT/GC/W/273 of 27 July
1999).

(1) OJ L 336, 23.12.1994.
(2) COM(99) 331 final.

(2000/C 27 E/008)

WRITTEN QUESTION E-2879/98

by Panayotis Lambrias (PPE) to the Commission

(28 September 1998)

Subject: Infringement of Directive 91/674/EEC concerning insurance undertakings

According to allegations by various bodies which have now come to light and reached the attention of the
Commission, the Greek Ministry of Development is failing to show the necessary rigour in monitoring
compliance with Greek and Community legislation, thereby permitting many insurance undertakings to
accumulate deficits of millions of drachmas and illegally attempt to cover them during the following
accounting period. This is resulting in constantly increasing deficits, thereby placing policyholders in a
precarious position and allowing certain undertakings illegal access to stock exchange listing.

In the light of the information available to it, does the Commission consider that Directive 91/674/EEC (1)
is being properly implemented in Greece and, if not, will it take appropriate measures?

(1) OJ L 374, 31.12.1991, p. 7.

Supplementary answer
given by Mr Monti on behalf of the Commission

(2 August 1999)

Further to its answer of 5 June 1998 (1), the Commission is now able to provide the following additional
information.

Commission verification of the Greek texts (2) which implement Directive 91/674/EEC of 19 December
1991 on the annual accounts and consolidated accounts of insurance undertakings indicated that the
implementation was almost complete, with only one point in the national implementing text that needed
further clarification. However,
information from Greece the transposition has been
completed with Presidential Decree 64 of 24 March 1999. Formal notification of those measures is
awaited.

following latest

The supervision of Greek insurance companies lies strictly in the responsibility of the Member State itself
and in particular the Greek insurance supervisory authority. For the time being the Commission does not
have any specific information about Greek insurance companies indicating the accumulation of deficits
and inadequate protection of the interests of the insured. The Commission would welcome detailed
information on complaints the Honourable Member has received.

(1) OJ C 310, 15.12.1998.
(2)

Presidential Decree 286; Legislative Decree 400/70 (consolidated version).

(2000/C 27 E/009)

WRITTEN QUESTION E-2983/98

by John McCartin (PPE) to the Commission

(8 October 1998)

Subject: Excessive cost of motor vehicle insurance in Ireland

Is the Commission aware of the excessive cost of motor vehicle insurance in Ireland and does it consider
that this is due to lack of competition in the Irish market?