CELEX: 52017PC0666
Language: en
Date: 2017-11-17
Title: Proposal for a COUNCIL DECISION on the position to be taken on behalf of the European Union, in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other than life insurance

EUROPEAN COMMISSION
            Brussels, 17.11.2017
            COM(2017) 666 final
            2017/0300(NLE)
            Proposal for a
            COUNCIL DECISION
            on the position to be taken on behalf of the European Union, in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other than life insurance
            
               
         
         
            
               EXPLANATORY MEMORANDUM
            
            
               1.Subject-matter of the proposal
            
            
               The present proposal concerns the decision establishing the position to be adopted on behalf of the Union in the EU-Switzerland Joint Committee in connection with the envisaged adoption of Decision concerning a technical revision of the Agreement on direct insurance other than life insurance (the 'envisaged act').
            
            
               2.Context of the proposal
            
            
               2.1.The Agreement
            
            
               The Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance (‘the Agreement’) aims to offer specific conditions for Swiss branches of insurers operating in the EU and conversely. In particular, under the Agreement, a Swiss branch in the EU will still be subject to Swiss solvency requirements, thus placing these activities on the same footing as those in Switzerland. The agreement entered into force on 1 January 1993.
            
            
               2.2.The EU-Switzerland Joint Committee
            
            
               The Agreement establishes a Joint Committee composed of representatives of Switzerland and representatives of the European Union (‘the EU-Switzerland Joint Committee’). Its decisions are taken by mutual agreement (Article 37). Pursuant to Articles 39 and 40(3) of the Agreement, the EU-Switzerland Joint Committee may amend the annexes and protocols to the Agreement.
            
            
               2.3.The envisaged act of the of the EU-Switzerland Joint Committee
            
            
               The EU-Switzerland Joint Committee is to adopt the envisaged act, annexed to the proposed Council Decision. The Commission would hope to be able to present it in the Joint Committee at the earliest possible opportunity.
            
            
               The purpose of the envisaged act is to amend the annexes and protocols to the Agreement in order to incorporate the following revisions:
            
            
               ·Adapt to the new risk-based solvency regimes in the EU (Directive 2009/138/EC Solvency II) and Switzerland (Swiss Solvency Test or SST). Solvency II entered into application on 1 January 2016, and the SST entered into force after the Agreement. Updating the Agreement on this point would ensure that Swiss and EU supervisors apply these modernised frameworks within the Agreement, as they do for insurers outside the Agreement. This is the main reason for this technical revision;
            
            
               ·Update the list of acceptable legal forms of Member States in Annex III. This is relevant in particular for those which joined the EU after the previous revision. The Commission intends to use the list of legal forms of non-life insurance undertakings contained in Annex III of Solvency II; 
            
            
               ·Update the Euro-Swiss Franc conversion rate to reflect the current conversion rate.
            
            
               3.Position to be adopted on behalf of the Union
            
            
               It is appropriate to establish the position to be taken on the Union's behalf in the EU-Switzerland Joint Committee concerning the envisaged act, as it will be binding on the Union.
            
            
               The envisaged act limits itself to a technical revision of the existing Agreement. It is consistent with existing provisions on the treatment of branches under Directive 2009/138/EC. It aims to avoid duplication of regulatory supervision of branches by host and home countries. In addition, the Commission has assessed the supervisory regime of Switzerland as equivalent to the EU regime under Directive 2009/138/EC.
            
            
               The reasons for supporting the technical revision of the Agreement are as follows: 
            
            
               ·Both jurisdictions will be able to use their modernised solvency frameworks within the Agreement. The solvency regimes in the Union and Switzerland have indeed been amended since 2001. The revision will result in supervision based on the same modernised, risk-based solvency framework within and outside of the Agreement for the benefit of insurers in both jurisdictions;
            
         
         
            
               ·The list of acceptable legal forms for Member States set out in the Agreement will be updated to incorporate in particular the acceptable legal forms for those Member States that have joined the Union since 2001;
            
            
               ·The Euro-Swiss Franc conversion rate will reflect the current conversion rate.
            
            
               The EU and Swiss authorities have conducted a quantitative study, also based on data from the European Insurance and Occupational Pension Authority (EIOPA), examining which insurers currently use the Agreement on both sides, and for which volumes of business. The study concludes that sufficient numbers of insurers in the EU and Switzerland make use of the Agreement to a sufficient degree for it to be considered as mutually beneficial and worth maintaining.
            
            
               The Commission consulted Member States, which did not oppose the proposed revisions.
            
            
               4.Legal basis
            
            
               4.1.Procedural legal basis
            
            
               4.1.1.Principles
            
            
               Article 218(9) TFEU provides for decisions establishing ‘the positions to be adopted on the Union’s behalf in a body set up by an agreement, when that body is called upon to adopt acts having legal effects, with the exception of acts supplementing or amending the institutional framework of the agreement.’
            
            
               The notion of ‘acts having legal effects’ includes acts that have legal effects by virtue of the rules of international law governing the body in question. It also includes instruments that do not have a binding effect under international law, but that are ‘capable of decisively influencing the content of the legislation adopted by the EU legislature’.
                  1
               
            
            
               4.1.2.Application to the present case
            
            
               The EU-Switzerland Joint Committee is a body set up by an agreement.
            
            
               The act which the EU-Switzerland Joint Committee is called upon to adopt constitutes an act having legal effects. The envisaged act will be binding under international law in accordance with Article 39 of the Agreement. The envisaged act does not supplement or amend the institutional framework of the agreement.
            
            
               The procedural legal basis for the proposed decision, therefore, is Article 218(9) TFEU.
            
            
               4.2.Substantive legal basis
            
            
               4.2.1.Principles
            
            
               The substantive legal basis for a decision under Article 218(9) TFEU depends primarily on the objective and content of the envisaged act in respect of which a position is adopted on behalf of the Union. If the envisaged act pursues two aims or has two components and if one of those aims or components is identifiable as the main one, whereas the other is merely incidental, the decision under Article 218(9) TFEU must be founded on a single substantive legal basis, namely that required by the main or predominant aim or component.
            
            
               4.2.2.Application to the present case
            
            
               The main objective and content of the envisaged act relate to update the annexes and protocols to the Agreement and to establish that the domestic legislation of the Contracting Parties is compatible with that Agreement, which removes double supervisory burdens. On this basis, the envisaged act will support the bilateral provision of non-life insurance services between both jurisdictions.
            
            
               The substantive legal basis of the proposed decision, therefore, is Article 207 TFEU.
            
            
               4.3.Conclusion
            
         
         
            
               The legal basis of the proposed decision should be Article 207 in conjunction with Article 218(9) TFEU.
            
            
               2017/0300 (NLE)
            
            
               Proposal for a
            
            
               COUNCIL DECISION
            
            
               on the position to be taken on behalf of the European Union, in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other than life insurance
            
            
               THE COUNCIL OF THE EUROPEAN UNION,
            
            
               Having regard to the Treaty on the Functioning of the European Union, and in particular Article 207, in conjunction with Article 218(9) thereof,
            
            
               Having regard to the proposal from the European Commission,
            
            
               Whereas:
            
            
               (1)The Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance (‘the Agreement’) was concluded by the Union by Council Decision 91/370/EEC
                  2
                and entered into force on 1 January 1993.
            
            
               (2)Pursuant to Article Articles 39 and 40.3 of the Agreement, the EU-Switzerland Joint Committee may amend the annexes and protocols to the Agreement.
            
            
               (3)The EU-Switzerland Joint Committee adopted on 18 July 2001 Decision No 1/2001
                  3
                amending the annexes and protocols to the Agreement and finding that the domestic legislation of the Contracting Parties is compatible with that Agreement.
            
            
               (4)The EU-Switzerland Joint Committee, during its next meeting, is to adopt a decision on a technical revision of the Agreement.
            
            
               (5)It is appropriate to establish the position to be adopted on behalf of the Union in the EU-Switzerland Joint Committee concerning amendments to the annexes and protocols to the Agreement and the compatibility of domestic legislation with the Agreement, as the decision will be binding on the Union.
            
            
               (6)The solvency regimes in the Union and Switzerland have been amended since 2001. It is therefore necessary to update the solvency regime referred to in the Agreement to bring it in line with the regimes currently in place in the Union and Switzerland.
            
            
               (7)The Euro-Swiss Franc conversion rate should be amended to reflect the current conversion rate.
            
            
               HAS ADOPTED THIS DECISION:
            
            
               Article 1
            
            
               The position to be adopted, on behalf of the Union, in the EU-Switzerland Joint Committee on the proposed technical revision of the Agreement on direct insurance other than life insurance shall be based on the draft Decision of the EU-Switzerland Joint Committee attached to this Decision.
            
            
               Article 2
            
         
         
            
               This Decision is addressed to the Commission.
            
            
               Done at Brussels,
            
            
               
                     For the Council
               
               
                     The President
               
            
         
         
            
                  
                     (1)
                  Case C-399/12 Germany v Council (OIV), ECLI:EU:C:2014:2258, paragraphs 61-64. 
               
               
                  
                     (2)
                  Council Decision 91/370/EEC of 20 June 1991 on the conclusion of the Agreement between the European Economic Community and the Swiss Confederation concerning direct insurance other than life assurance (OJ L 205, 27.7.1991, p. 2)
               
               
                  
                     (3)
                  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 (OJ L 291, 8.11.2001, p. 52).
               
            
      
    ---documentbreak--- 
      
         
               EUROPEAN COMMISSION
            Brussels,17.11.2017
            COM(2017) 666 final
            ANNEX
            to the
            proposal for a Council Decision
            establishing the position to be taken on the Union's behalf in the EU-Switzerland Joint Committee concerning a technical revision of the Agreement on direct insurance other than life insurance
            
               
         
         
            
               ANNEX
               
                  DECISION OF THE EU-SWITZERLAND JOINT COMMITTEE
                  1
                
               
                  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
            
            
               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 (‘the Agreement’),
            
            
               Having regard to Decision No 1/2001 of the EC-Switzerland Joint Committee,
            
            
               Whereas:
            
            
               (1)New Member States have acceded to the Union and their accession requires some technical amendments to Annex III to the Agreement;
            
            
               (2)Certain legislative provisions adopted by the Union and by Switzerland require an amendment of the protocols and annexes to the Agreement;
            
            
               (3)After examination, certain legislative provisions adopted by Switzerland do not require the Agreement to be amended.
            
            
               (4)Following the legislative provisions adopted by the Swiss Confederation and the Union between 18 July 2001 and [Date of signature of decision], and in order to reflect the accession of new Member States to the European Union,
            
            
               HAS ADOPTED THIS DECISION:
            
            
               Article 1
            
            
               The Agreement is hereby amended as follows:
            
            
               (1)The exchange value between the EUR and the CHF for all the annexes and protocols  shall be fixed at EUR 1 = CHF 1,14.
            
            
               (2)Protocol No 1 to the Agreement shall be amended as follows:
            
            
               (a)Article 1 shall be 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*, (‘Solvency 2’) as amended by Directive 2014/51/EU of the European Parliament and of the Council**(‘Omnibus 2’)
            
            
               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*** ('Insurance Supervisory Act') and the Aufsichtsverordnung**** ('Insurance Supervisory Ordinance').
            
         
         
            
               _____________________________________________________________
            
            
               *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 (OJ L 335, 17.12.2009, p. 1).
            
            
               **Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority) (OJ L 153, 22.5.2014, p. 1).
            
            
               ***Versicherungsaufsichtsgesetz, SR 961.01.
            
            
               ****Aufsichtsverordnung, SR 961.011.”;
            
            
               (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 Solvency 2, as amended by Omnibus 2.
            
            
               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)The list of acceptable legal forms in Part B of Annex III to the Agreement should be replaced by the list in Part A of Annex III to Directive 2009/138/EC of the European Parliament and of the Council
                  2
               .
            
            
               Article 2
            
            
               The following acts of the Union are compatible with the Agreement:
            
            
               –Directive 2009/138/EC (‘Solvency 2’), as amended by Directive 2014/51/EU of the European Parliament and of the Council (‘Omnibus 2’)
                  3
               ;
            
            
               –Commission Delegated Regulation No 2015/35, in the version published in the Official Journal of the European Union of 17 January 2015
                  4
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/460 on the approval of an internal model, in the version published in the Official Journal of the European Union of 20 March 2015
                  5
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/462 on the procedures for supervisory approval to establish SPVs, for the cooperation and exchange of information between supervisory authorities regarding SPVs, as well as to set out formats and templates for information to be reported by SPVs, in the version published in the Official Journal of the European Union of 20 March 2015
                  6
               ; 
            
            
               –Commission Implementing Regulation (EU) 2015/461 on the process to reach a joint decision on the application to use a group internal model, in the version published in the Official Journal of the European Union of 20 March 2015
                  7
               ; 
            
         
         
            
               –Commission Implementing Regulation (EU) 2015/498 on the supervisory approval procedure to use undertaking-specific parameters, in the version published in the Official Journal of the European Union of 25 March 2015
                  8
               ; 
            
            
               –Commission Implementing Regulation (EU) 2015/500 on the procedures to be followed for the supervisory approval of the application of a matching adjustment, in the version published in the Official Journal of the European Union of 25 March 2015
                  9
               ; 
            
            
               –Commission Implementing Regulation (EU) 2015/499 on the procedures to be used for granting supervisory approval for the use of ancillary own-fund items, in the version published in the Official Journal of the European Union of 25 March 2015
                  10
               ; 
            
            
               –Commission Delegated Decision (EU) 2015/1602 on the equivalence of the solvency and prudential regime for insurance and reinsurance undertakings in force in Switzerland, in the version published in the Official Journal of the European Union of 24 September 2015
                  11
               ; 
            
            
               –Commission Delegated Decision (EU) 2015/2290 on the provisional equivalence of the solvency regimes in force in Australia, Bermuda, Brazil, Canada, Mexico and the United States, in the version published in the Official Journal of the European Union of 9 December 2015
                  12
               ; 
            
            
               –Commission Delegated Regulation (EU) 2016/467 amending Delegated Regulation (EU) 2015/35 concerning the calculation of regulatory capital requirements for several categories of assets held by insurance and reinsurance undertakings, in the version published in the Official Journal of the European Union of 1 April 2016
                  13
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2011 on 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, in the version published in the Official Journal of the European Union of 12 November 2015
                  14
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2016 on the equity index for the symmetric adjustment of the standard equity capital charge, in the version published in the Official Journal of the European Union of 12 November 2015
                  15
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2017 on the adjusted factors to calculate the capital requirement for currency risk for currencies pegged to the euro, in the version published in the Official Journal of the European Union of 12 November 2015
                  16
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2013 on standard deviations in relation to health risk equalisation systems, in the version published in the Official Journal of the European Union of 12 November 2015
                  17
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2014 on the procedures and templates for the submission of information to the group supervisor and for the exchange of information between supervisory authorities, in the version published in the Official Journal of the European Union of 12 November 2015
                  18
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2012 on the procedures for decisions to set, calculate and remove capital add-ons, in the version published in the Official Journal of the European Union of 12 November 2015
                  19
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2015 on the procedures for assessing external credit assessments, in the version published in the Official Journal of the European Union of 12 November 2015
                  20
               ;
            
            
               –Commission Delegated Decision (EU) 2016/310 on the equivalence of the solvency regime for insurance and reinsurance undertakings in force in Japan, in the version published in the Official Journal of the European Union of 4 March 2016
                  21
               ;
            
            
               –Commission Delegated Decision (EU) 2016/309 on the equivalence of the supervisory regime for insurance and reinsurance undertakings in force in Bermuda  amending Comission Delegated Decision (EU) 2015/2290, in the version published in the Official Journal of the European Union of 4 March 2016
                  22
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2450 -Supervisory reporting: templates for submission, in the version published in the Official Journal of the European Union of 31 December 2015
                  23
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2452 -Solvency and financial condition report, in the version published in the Official Journal of the European Union of 31 December 2015
                  24
               ;
            
            
               –Commission Implementing Regulation (EU) 2015/2451 - Reporting by supervisors, in the version published in the Official Journal of the European Union of 31 December 2015
                  25
               ;
            
            
               –Commission Implementing Regulation (EU) 2016/165 on the calculation of technical provisions and basic own funds for reporting with reference dates from 1 January until 30 March 2016, in the version published in the Official Journal of the European Union of 9 February 2016
                  26
               ;
            
            
               –Commission Implementing Regulation (EU) 2016/869 on the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2016, in the version published in the Official Journal of the European Union of 3 June 2016
                  27
               ;
            
         
         
            
               –Commission Implementing Regulation (EU) 2016/1376 on the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2016, in the version published in the Official Journal of the European Union of 18 August 2016
                  28
               ;
            
            
               –Commission Implementing Regulation (EU) 2016/1630 on the procedures for the application of the transitional measure for the equity risk sub-module, in the version published in the Official Journal of the European Union of 10 September 2016
                  29
               ;
            
            
               –Commission Implementing Regulation (EU) 2016/1800 on the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps, in the version published in the Official Journal of the European Union of 12 October 2016
                  30
               ;
            
            
               –Commission Implementing Regulation (EU) 2016/1868 amending and correcting Impl. Reg. (EU) 2015/2450 on the templates for the submission of information to the supervisory authorities, in the version published in the Official Journal of the European Union of 21 October 2016
                  31
               ;
            
            
               –Commission Commission Implementing Regulation (EU) 2016/1976 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 the version published in the Official Journal of the European Union of 16 November 2016
                  32
               ;
            
            
               –Commission Implementing Regulation (EU) 2017/309 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 the version published in the Official Journal of the European Union of 28 February 2017
                  33
               ;
            
            
               –Commission Implementing Regulation (EU) 2017/812 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 the version published in the Official Journal of the European Union of 18 May 2017
                  34
               ;
            
            
               –Commission Delegated Regulation (EU) 2017/1542 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), in the version published in the Official Journal of the European Union of 14 September 2017
                  35
               ;
            
            
               –Commission Implementing Regulation (EU) 2017/1421 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, in the version published in the Official Journal of the European Union of 14 September 2017
                  36
               ;
            
            
               The following legislative provisions of the Swiss Confederation are compatible with the Agreement:
            
            
               –Insurance Supervisory Act (SR 961.01)
                  37
               
            
            
               –Insurance Supervisory Ordinance (SR 961.011)
                  38
               ;
            
            
            
            
               Done at XX, […].
            
            
               
                     For the Joint Committee
               
               
                     The President
                     […]
                        
                  
            
         
         
            
                  
                     (1)
                  Formerly the EC-Switzerland Joint Committee.
               
               
                  
                     (2)
                  
                  
                        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).
                  
               
               
                  
                     (3)
                  Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 amending Directives 2003/71/EC and 2009/138/EC and Regulations (EC) No 1060/2009, (EU) No 1094/2010 and (EU) No 1095/2010 in respect of the powers of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority) (OJ L 153, 22.5.2014, p. 1).
               
               
                  
                     (4)
                  
                  
                        Commission Delegated Regulation 2015/35/EU 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 on the approval of an internal model  (OJ L 76, 20.03.2015, p.13).
               
               
                  
                     (6)
                  Commission Implementing Regulation (EU) 2015/462 of 19 March 2015 on the procedures for supervisory approval to establish SPVs, for the cooperation and exchange of information between supervisory authorities regarding SPVs, as well as to set out formats and templates for information to be reported by SPVs  (OJ L 76, 20.03.2015, p.23).
               
               
                  
                     (7)
                  Commission Implementing Regulation (EU) 2015/461 of 19 March 2015 on the process to reach a joint decision on the application to use a group internal model  (OJ L 76, 20.03.2015, p.19).
               
               
                  
                     (8)
                  Commission Implementing Regulation (EU) 2015/498 of 24 March 2015 on the supervisory approval procedure to use undertaking-specific parameters  (OJ L 79, 25.3.2015, p. 8).
               
               
                  
                     (9)
                  Commission Implementing Regulation (EU) 2015/500 of 24 March 2015 on the procedures to be followed for the supervisory approval of the application of a matching adjustment  (OJ L 79, 25.3.2015, p. 18).
               
               
                  
                     (10)
                  Commission Implementing Regulation (EU) 2015/499 of 24 March 2015 on the procedures to be used for granting supervisory approval for the use of ancillary own-fund items  (OJ L 79, 25.3.2015, p. 12).
               
               
                  
                     (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 (OJ L 248, 24.09.2015, p. 95).
               
               
                  
                     (12)
                  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 (OJ L 323, 9.12.2015, p. 22).
               
               
                  
                     (13)
                  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).
               
               
                  
                     (14)
                  Commission Implementing Regulation (EU) 2015/2011 of 11 November 2015 on 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 (OJ L 295, 12.11.2015, p. 3).
               
               
                  
                     (15)
                  Commission Implementing Regulation (EU) 2015/2016 of 11 November 2015 on the equity index for the symmetric adjustment of the standard equity capital charge (OJ L 295, 12.11.2015, p. 18).
               
               
                  
                     (16)
                  Commission Implementing Regulation (EU) 2015/2017 of 11 November 2015 on the adjusted factors to calculate the capital requirement for currency risk for currencies pegged to the euro (OJ L 295, 12.11.2015, p. 21).
               
               
                  
                     (17)
                  Commission Implementing Regulation (EU) 2015/2013 of 11 November 2015 on standard deviations in relation to health risk equalisation systems (OJ L 295, 12.11.2015, p. 9).
               
               
                  
                     (18)
                  Commission Implementing Regulation (EU) 2015/2014 of 11 November 2015 on the procedures and templates for the submission of information to the group supervisor and for the exchange of information between supervisory authorities (OJ L 295, 12.11.2015, p. 11).
               
               
                  
                     (19)
                  Commission Implementing Regulation (EU) 2015/2012 of 11 November 2015 on the procedures for decisions to set, calculate and remove capital add-ons (OJ L 295, 12.11.2015, p. 5).
               
               
                  
                     (20)
                  Commission Implementing Regulation (EU) 2015/2015 of 11 November 2015 on the procedures for assessing external credit assessments (OJ L 295, 12.11.2015, p. 16).
               
               
                  
                     (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 (OJ L 58, 4.3.2016, p. 55).
               
               
                  
                     (22)
                  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  amending Comission Delegated Decision (EU) 2015/2290 (OJ L 58, 4.3.2016, p. 50).
               
               
                  
                     (23)
                  Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 -Supervisory reporting: templates for submission (OJ L 347, 31.12.2015, p. 1).
               
               
                  
                     (24)
                  Commission Implementing Regulation (EU) 2015/2452 of 2 December 2015 -Solvency and financial condition report (OJ L 347, 31.12.2015, p. 1285).
               
               
                  
                     (25)
                  Commission Implementing Regulation (EU) 2015/2451 of 2 December 2015 - Reporting by supervisors (OJ L 347, 31.12.2015, p. 1224).
               
               
                  
                     (26)
                  Commission Implementing Regulation (EU) 2016/165 of 5 February 2016 on the calculation of technical provisions and basic own funds for reporting with reference dates from 1 January until 30 March 2016 (OJ L 32, 9.2.2016, p.31).
               
               
                  
                     (27)
                  Commission Implementing Regulation (EU) 2016/869 of 27 May 2016 on the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2016 (OJ L 147, 3.6.2016, p. 1).
               
               
                  
                     (28)
                  Commission Implementing Regulation (EU) 2016/1376 of 8 August 2016 on the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2016 (OJ L 224, 18.8.2016, p.1).
               
               
                  
                     (29)
                  Commission Implementing Regulation (EU) 2016/1630 of 9 September 2016 on the procedures for the application of the transitional measure for the equity risk sub-module (OJ L 243, 10.9.2016, p. 1).
               
               
                  
                     (30)
                  Commission Implementing Regulation (EU) 2016/1800 of 11 October 2016 on the allocation of credit assessments of external credit assessment institutions to an objective scale of credit quality steps (OJ L 275, 12.10.2016, p. 19).
               
               
                  
                     (31)
                  Commission Implementing Regulation (EU) 2016/1868 of 20 October 2016 amending and correcting Impl. Reg. (EU) 2015/2450 on the templates for the submission of information to the supervisory authorities (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 (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 (OJ L 53,  28.02.2017, 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 (OJ L 126, 18.5.2017, p.1).
               
               
                  
                     (35)
                  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).
               
               
                  
                     (36)
                  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).
               
               
                  
                     (37)
                  Versicherungsaufsichtsgesetz, SR 961.01.
               
               
                  
                     (38)
                  Aufsichtsverordnung, SR 961.011.