Directive 2008/19/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2002/83/EC concerning life assurance, as regards the implementing powers conferred on the Commission
Date: 2008-03-11
Institutions: Council of the European Union, European Parliament
Subjects: EU control, European Commission, insurance law, life assurance, powers of the institutions (EU)

L 76/44

EN

Official Journal of the European Union

19.3.2008

DIRECTIVE 2008/19/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 11 March 2008

amending Directive 2002/83/EC concerning life assurance, as regards the implementing powers
conferred on the Commission

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE
EUROPEAN UNION,

(3)

Having regard to the Treaty
Community, and in particular Articles 47(2) and 55 thereof,

establishing the European

Having regard to the proposal from the Commission,

(4)

Having regard to the opinion of the European Economic and
Social Committee (1),

Acting in accordance with the procedure
Article 251 of the Treaty (2),

laid down in

Whereas:

and

the Council

In accordance with the statement by the European
the Commission (5)
Parliament,
for the regulatory
concerning Decision 2006/512/EC,
procedure with scrutiny to be applicable to instruments
adopted in accordance with the procedure referred to in
Article 251 of the Treaty which are already in force,
those instruments must be adjusted in accordance with
the applicable procedures.

legal

list of

forms; amend the

The Commission should be empowered to adopt the
measures necessary for the implementation of Directive
2002/83/EC in order to take account of technical devel-
opments in the insurance sector or on financial markets
and to ensure uniform application of
that Directive.
the elements
Those measures are designed to adjust
eligible for the available solvency margin; extend the
classes of
list of
the terminology used in that
insurance or adapt
list;
clarify or adjust
the items constituting the solvency
margin; amend the list of assets acceptable as cover for
technical provisions and the rules on the spreading of
investments; change the relaxations in the matching
the necessary
rules;
to the
setting the
technical
maxima
those
Since
to interest
measures are of general scope and are designed to
amend non-essential elements of Directive 2002/83/EC,
they must be adopted in accordance with the regulatory
procedure with scrutiny provided for in Article 5a of
Decision 1999/468/EC.

clarify definitions;
adjustments
applicable

and make

rates.

rules

for

(1)

(2)

Directive 2002/83/EC of the European Parliament and of
the Council (3) provides that certain measures are to be
Council Decision
adopted
1999/468/EC of 28 June 1999 laying down the
procedures for
implementing powers
the exercise of
conferred on the Commission (4).

accordance with

in

the

introduced

Decision 1999/468/EC has been amended by Decision
2006/512/EC, which
regulatory
procedure with scrutiny for the adoption of measures
of general scope and designed to amend non-essential
elements of a basic instrument adopted in accordance
with the procedure referred to in Article 251 of the
Treaty,
inter alia, by deleting some of those elements
or by supplementing the instrument with new non-
essential elements.

(5)

(6)

Directive 2002/83/EC should therefore be amended
accordingly.

Since the amendments made to Directive 2002/83/EC by
in nature and concern
this Directive are technical
they do not need to be
committee procedure only,
transposed by the Member States.
is therefore not
necessary to lay down provisions to that effect,

It

HAVE ADOPTED THIS DIRECTIVE:

(1) OJ C 161, 13.7.2007, p. 45.
(2) Opinion of the European Parliament of 14 November 2007 (not yet
published in the Official Journal) and Council Decision of 3 March
2008.

(3) OJ L 345, 19.12.2002, p. 1. Directive as last amended by Directive

2007/44/EC (OJ L 247, 21.9.2007, p. 1).

(4) OJ L 184, 17.7.1999, p. 23. Decision as amended by Decision

2006/512/EC (OJ L 200, 22.7.2006, p. 11).

Article 1

Amendments

Directive 2002/83/EC is hereby amended as follows:

(5) OJ C 255, 21.10.2006, p. 1.

19.3.2008

EN

Official Journal of the European Union

L 76/45

1.

in Article 64, the introductory wording shall be replaced by
the following:

‘The following technical adjustments, designed to amend
non-essential elements of this Directive, shall be adopted in
accordance with the regulatory procedure with scrutiny
referred to in Article 65(2):’;

2. Article 65 shall be amended as follows:

(a) paragraph 2 shall be replaced by the following:

reference
to (4)

‘2. Where
Article 5a(1)
1999/468/EC shall
provisions of Article 8 thereof.’;

is made
to this paragraph,
and Article 7 of Decision
to the

apply, having

regard

(b) paragraph 3 shall be deleted.

Article 2

Entry into force

This Directive shall enter into force on the day following its
publication in the Official Journal of the European Union.

Article 3

Addressees

This Directive is addressed to the Member States.

Done at Strasbourg, 11 March 2008.

For the European Parliament
The President

H.-G. PÖTTERING

For the Council
The President
J. LENARČIČ