natgillin/translations-raw huggingface dataset:
Der er hidtil ikke udstedt forsikringsdirektiver for specialiserede genforsikringsselskaber (selv om det foreslåede direktiv om offentliggørelse af forsikringsselskabers regnskaber også gælder for dem).
The specialist reinsurers have not so far been the subject of any subsequent insurance directives (although the proposed Directive on the published accounts of insurance undertakings would apply to them).
Det kan umiddelbart se ud, som om 1964-direktivet etablerede et fuldstændigt fælles marked for genforsikring, men i praksis anvendes genforsikring i vidt forskelligt omfang i medlemsstaterne, ligesom antallet af specialiserede genforsikringsselskaber varierer betydeligt.
Although on the face of it the 1964 Directive established a complete common market in reinsurance, there are in fact important differences between the Member States in the extent to which reinsurance is used in practice and in the number of specialist reinsurance companies.
Disse forskelle beror til en vis grad på den historiske udvikling, men er også knyttet til forskelle i den kontrol, der i forbindelse med genforsikring føres med cedenterne, ligesom der er forskel på, i hvilket omfang tilgodehavender hos forsikrings selskaberne kan anvendes til dækning af tekniske reserver og — endnu vigtigere — hvorvidt der i så fald kræves en eller anden form for depot af genforsikringsselskabet.
To some extent these are simply a matter of historical development, but they are also linked to differences in controls exercised upon reinsurance at the level of cédant companies, concerning the extent to which claims against the insurers may be used to cover technical reserves and, most importantly, whether in the event that such cover is permitted, deposits of one kind or another have to be required of the reinsurer.
Da denne kontrol udøves med de direkte tegnende forsikringsselskaber (cedenterne) er det på dette niveau, at der skal gennemføres yderligere koordineringsforanstaltninger.
Since such controls are exercised at the level of direct insurance undertakings (the cédant companies), it is at that level that any further coordination measures will have to be applied.
Skadesforsikring: foranstaltninger vedrørende etableringsfrihed
Direct nonlife insurance: measures connected with establishment
1. skadesforsikringsdirektiv
The first nonlife insurance coordination Directive
Efter at genforsikringsdirektivet var vedtaget, skete der kun ganske lidt i længere tid, indtil der blev taget skridt til at sikre skadesforsikringsselskaberne etableringsfrihed, som fastsat i 1961-programmet.
After the reinsurance Directive little happened for a long time. But when a move came, it was, as foreseen in the 1961 programme, concerned with the right of establishment in nonlife insurance.
Den 24. juli 1973 udstedte Rådet to direktiver.
Two Directives were adopted by the Council on 24 July 1973.
Direktiv 73/240/EØF tog sigte på at ophæve de formelle begrænsninger i etableringsfriheden.
Council Directive 73/240/EEC sought to abolish formal restrictions on freedom of establishment.
Kort efter blev det ved Domstolens dom i /?e_y/7m-sagen') stadfæstet, at direktivet var nærmest overflødigt, fordi disse begrænsninger allerede var ophørt den 31. december 1969 med udløbet af den i Traktaten fastsatte overgangsperiode.
It was shortly afterwards shown by the judgment of the European Court of Justice in the Reyners case1to be almost entirely superfluous, because these restrictions had already ceased to be valid when the transitional period provided by the Treaty ended on 31 December 1969.
Direktiv 73/239/EØF (Rådets første direktiv om samordning af de administrativt eller ved lov fastsatte bestemmelser om adgang til udøvelse af direkte forsikringsvirksomhed bortset fra livsforsikring) danner derimod grundlag for det meste af det efterfølgende arbejde med opbygning af et fælles forsikringsmarked og skal derfor gennemgås nærmere.
Council Directive 73/239/EEC, on the other hand (First Council Directive on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance), represents the foundation upon which most subsequent work in the construction of a common market in insurance has been based. It must therefore be considered in some detail.
Direktivet tog sigte på at gøre det lettere for skadesforsikringsselskaber i EF at benytte sig af etableringsretten, eller sagt på en anden måde, at give sådanne virksomheder mulighed for at oprette filialer og agenturer i andre medlemsstater.
The purpose of the Directive was to facilitate the exercise of the right of establishment by Community nonlife insurance undertakings, or to put it in less formal terms, to remove restrictions on the opening of branches and agencies by such undertakings in other Member States.
Man erkendte, at det for at nå dette mål var væsentligt at fjerne en række forskelle i medlemsstaternes tilsynslovgivning og navnlig at samordne bestemmelserne om finansielle garantier, som skal støtte forsikringsselskaberne.
It was recognized that in order to achieve this, it was essential to eliminate certain divergences which existed between national supervisory legislations, and in particular to coordinate the provisions relating to the financial guarantees required of insurance undertakings.
Vi skal senere komme nærmere ind på de finansielle garantier men vil først gennemgå de øvrige bestemmelser.
We will examine the financial guarantees in more detail shortly, but will look first at the other provisions.
Direktivet omfatter privat skadesforsikring generelt, men vedrører ikke:
The Directive covers private nonlife insurance in general but excludes:
(i) en række mindre, gensidige forsikringsselskaber
(i) certain small mutual associations;
(ii) en række halvoffentlige organer, der er nærmere angivet i direktivet; de vigtigste er de tyske »Monopolanstalten« (tyske offentligretlige organer, der har monopol på dækning af bestemte risici, hovedsagelig brand, i visse tyske delstater).
(ii) various bodies of a semi-public nature, listed by name, the most notable being certain German monopoly institutions (institutions set up under German public law, which grants them a monopoly of the cover of certain risks, mainly fire, within certain Länder).
For at direktivet kunne gennemføres, måtte det klart fremgå, hvad man skulle forstå ved et forsikringsselskab.
For the Directive to work, it was necessary for there to be a clear understanding of what an insurance undertaking is.
Direktivet indeholder ingen definition af forsikring som sådan — hvilket kom til at skabe problemer senere — men det er fastsat udførligt for hver enkelt medlemsstat, hvilken retlig form forsikringsselskaberne kan have.
No definition was given of insurance itself — a matter which was to produce difficulties later — but the legal forms which insurance undertakings may take are spelled out separately for each Member State.
Der er tale om bl.a. gensidige selskaber, andelsforetagender og aktieselskaber.
They include mutual associations and cooperatives as well as companies owned by shareholders.
Lloyd's, der i virkeligheden er et forsikringsmarked bestående af individuelle forsikringsselskaber, som indgår i indbyrdes konkurrerende sammenslutninger, behandles i direktivet som en enkelt virksomhed.
Lloyd's, which is really an organized market of individual insurers grouped in competing syndicates, is treated for the purposes of the Directive as if it were a single undertaking.
Det blev endvidere fastsat (artikel 8, stk. 1, litra b), at forsikringsselskaberne skulle begrænse deres formål til forsikringsvirksomhed og dermed direkte forbundne forretninger.
It was further laid down (Article 8(l)(b)) that insurance undertakings had to restrict their activities to insurance itself and operations directly arising therefrom.
Dette indebærer, at en og samme virksomhed f.eks. ikke kan udøve både forsikrings- og bankvirksomhed; men det er muligt for forsikringsselskaberne at yde lån, fordi dette er en af de måder, hvorpå de investerer de midler, de indtjener ved deres hovedvirksomhed, forsikring.
It follows from this that the same undertaking cannot, for example, carry on both insurance and banking, but it is possible for insurance undertakings to make loans, because this is one of the ways in which such undertakings invest the funds which they necessarily gather and hold as part of their mainstream insurance business.
') Sag 2/74, Jean Revners mod den belgiske stat, dom af 21. juni 1974, Sml. s. 631.
Case 2/74/ean Reyners v Belgian Slate [1974] ECR 631.
(i) at forsikring skulle opdeles i forskellige klasser efter risikoens art (disse klasser er anført i bilaget til direktivet)
(i) insurance was grouped into different classes by reference to the nature of the risks covered (these classes appear in an annex to the Directive);
(ii) at der skulle gives officiel tilladelse til at udøve forsikringsvirksomhed inden for bestemte klasser, hvilket indebar, at der måtte:
(ii) official authorizations were to be granted for the carrying on of the insurance business in particular classes; this in turn entailed:
(a) fastsættes betingelser for en sådan tilladelse
(a) fixing conditions for granting such authorization;
(b) udarbejdes bestemmelser om inddragelse af tilladelsen.
(b) provisions for the withdrawal of authorization.
Den måde, hvorpå tilladelserne gives i henhold til direktivet, nemlig med ansvarsfordeling mellem de pågældende medlemsstater, fører os over til de finansielle bestemmelser og kernen i det system, der blev indført med direktivet.
The way in which authorizations are given under the Directive, with a sharing of responsibility between the Member States concerned, brings us to the financial provisions and the heart of the system set up by the Directive.
Lad os tage et forsikringsselskab med vedtægtsmæssigt hjemsted i medlemsstat A og filialer i medlemsstaterne B, C og D. Dette selskab vil indgå og administrere forsikringsaftaler på sine kontorer i land A, B, C og D.
Let us suppose an insurer, whose head office is situated in Member State A, has branches in Member States B, C and D. This insurer therefore concludes contracts and manages portfolios at offices in A, B, C and D.
Hver af medlemsstaterne A, B, C og D, hvor selskabet har kontorer, skal føre tilsyn med de tekniske reserver og de aktiver, der repræsenterer dem, for så vidt angår den forsikringsbestand, der forvaltes på det pågældende kontor (ved tekniske reserver forstås de beløb, som et forsikringsselskab skal henlægge for at kunne opfylde fremtidige forpligtelser over for forsikringstagerne; de består hovedsagelig af de ikke-afløbne præmier (præmiereserve) og beløb, der er henlagt til dækning af erstatningskrav i forbindelse med skader, som allerede er indtruffet men endnu ikke afviklet (erstatningsreserve)).
Each of the Member States A, B, C and D in which an office carrying on insurance business is situated has the responsibility for supervising the technical reserves and the assets representing them in respect of the portfolios handled at the office concerned (technical reserves — also, and more correctly, known as technical provisions — are the amounts which an insurer has to set aside to meet future obligations to policyholders; they consist mainly of the unexpired part of premiums already received (unearned premiums reserve) and amounts set aside for claims in respect of events which have already occurred but which have not yet been settled (claims reserve)).
Den medlemsstat, hvor forsikringsselskabets beliggende, har et dobbelt ansvar:
The Member State where the head office is situated has a twofold responsibility:
(i) et generelt ansvar for solvensen i forbindelse med forsikringsselskabets samlede virksomhed (oplysninger herom gives af de medlemsstater, hvor selskabet har filialer); hvis selskabet også har filialer uden for EF, er det ifølge direktivet den medlemsstat, hvor selskabets vedtægtsmæssige hjemsted er beliggende, der skal føre tilsyn med disse filialer som led i sit ansvar for tilsynet med den samlede solvens; de pågældende stater uden for EF kan dog selv have særlige bestemmelser om tilsyn med filialerne
(i) a general responsibility for overall solvency with respect to the insurer's entire business (information being provided for this purpose by the Member States where the branches are located); if the insurer also has branches outside the Community, the full responsibility for the supervision of those branches devolves, under the Directive, upon the headoffice State, as part of its responsibility for overall solvency, although of course the nonCommunity States concerned may have their own provisions for supervision of the branches;
(ii) et særligt ansvar for at sikre, at forsikringsselskabet har den minimumssolvensmargen, der er fastsat i direktivet (dette skal vi komme nærmere ind på senere).
(ii) a specific responsibility for ensuring that the insurer has the minimum solvency margin (to which we will return) prescribed by the Directive.
Det er fastsat i direktivet, at den medlemsstat, på hvis område et forsikringsforetagende udøver sin virksomhed (jf. punkt 1 ovenfor) »pålægger dette at afsætte tilstrækkelige tekniske reserver: Disse reservers størrelse bestemmes efter de af staten fastsatte regler eller i mangel heraf efter den i denne stat gældende praksis«.
The Directive provides that the Member State concerned (see No 1 above) 'shall require the undertaking to establish sufficient technical reserves. The amount of such reserves shall be determined according to the rules fixed by the State or, in the absence of such rules, according to the established practices in such State'.
Man vil bemærke, at der her er tale om en harmonisering af det tilsigtede mål, nemlig at reserverne skal være »tilstrækkelige«.
It will be noted that this is a harmonization as regards the goal to be achieved: the reserves shall be 'sufficient'.
Dette begreb defineres ikke yderligere, hvilket vel heller ikke er nødvendigt, da enhver vil opfatte »tilstrækkelig« som »tilstrækkelig til at opfylde de aftalemæssige forpligtelser over for forsikringstagerne«.
This concept is not further defined, but no doubt does not need to be, since everyone will understand that 'sufficient' means 'sufficient to meet the contractual obligations to policyholders'.
Men metoderne for at nå dette mål harmoniseres ikke, og der er en klar erkendelse af, at metoderne vil variere fra den ene medlemsstat til den anden.
But there is no harmonization of the methods to be used to reach this goal and indeed it is clearly recognized that the means will vary from one Member State to another.
Det er stort set det samme, der gør sig gældende i forbindelse med de aktiver, der ligger til grund for reserverne.
It is much the same story when we come to the assets representing the reserves.
I direktivet er det fastsat, at »de tekniske reserver skal være dækket af ækvivalente og kongruente aktiver, der befinder sig i det land, hvor virksomheden udøves«.
The Directive says: 'technical reserves shall be required to be covered by equivalent and matching assets localized in each country where business is carried on'.
Det hedder endvidere: »Medlemsstaterne kan dog lempe reglerne for aktivernes kongruens og lokalisering«.
It goes on immediately to say: 'Member States may, however, permit relaxations in the rules as to matching assets and the localization of assets'.
Dette er næsten ensbetydende med, at medlemsstaterne er frit stillet med hensyn til aktivernes kongruens (herved forstås kongruens i den relevante valuta) og lokalisering, idet der ikke er fastsat nogen kriterier for, hvorledes reglerne kan lempes.
This almost amounts to saying that Member States may do what they like as regards matching (by which is meant matching in the appropriate currency) and the localization of assets, since no criteria are laid down as to the relaxations which may be applied.
Reglerne kan ganske vist lempes, når det gælder kongruens og lokalisering, men der er uden tvivl tale om harmonisering, når det er fastsat, at aktiverne skal være »ækvivalente«.
Perhaps there may be relaxations as regards matching and localization, but surely there is harmonization when it is said that the assets shall be 'equivalent'?
Men selv her er medlemsstaterne meget frit stillet.
Even here, however, we find that great freedom is left to the Member States.
I direktivet er fastsat følgende: »Retsforskrifterne i det land, hvor virksomheden udøves, fastsætter aktivernes art og i givet fald, i hvilket omfang det kan tillades, at disse dækker de tekniske reserver, samt reglerne for vurdering af disse aktiver«.
The Directive says the following: 'The regulations of the country where the business is carried on shall determine the nature of such assets and, where appropriate, the extent to which they may be used for the purpose of covering the technical reserves and shall also determine the rules for valuing such assets'.
Det fremgår også klart, at medlemsstaterne kan — men ikke nødvendigvis skal — tillade, at de tekniske reserver dækkes af fordringer på reassurandørerne.
The text goes on to make clear that Member States may — but not must — allow technical reserves to be covered by claims against reinsurers.
Man kan spekulere på, om direktivet egentlig har betegnet noget fremskridt på dette område.
At first sight one may wonder whether the Directive has really achieved anything in this area.
Ganske vist indeholder det bestemmelser om ansvarsfordeling og om målsætninger, men der er ikke tale om nogen harmonisering af metoderne, og det erkendes åbent, at der kan være betydelige forskelle i den anvendte praksis.
It is true that it allocated responsibilities and set goals, but there is no harmonization of the means and indeed a frank recognition that the practices may vary widely.
En del af forklaringen herpå findes i direktivets betragtninger:
Some explanation is given in the preamble:
»Udarbejdelsen af en fælles metode til beregning af de tekniske reserver er for tiden genstand for en undersøgelse på fællesskabsplan; det synes derfor formålstjenligt at udskyde gennemførelse af samordningen på dette område samt spørgsmål om fastsættelse af anbringelsesmåder og om værdiansættelse af aktiverne til senere direktiver«.
'Whereas the search for a common method of calculating technical reserves is at present the subject of studies at Community level; whereas it therefore appears to be desirable to reserve the attainment of coordination in this matter, as well as questions relating to the determination of categories of investments and the valuation of assets, for subsequent directives'.
Når vi gennemgår den senere udvikling, vil det fremgå, at ventetiden har været meget lang!
As we review subsequent developments we shall see that the wait has been a long one!
Lige siden direktivet blev vedtaget, har man diskuteret, hvor meget det egentlig betyder, at der ikke findes nogen streng harmonisering på dette område.
Ever since the adoption of the Directive, there has been debate about the extent to which the absence of strict harmonization in this area really matters.
Medlemsstaternes regler og praksis er vidt forskellige, men undersøgelser har vist, at samtlige medlemsstater tager virkeliggørelsen af de fastsatte mål meget alvorligt.
The rules and practices of the Member States do indeed differ substantially, but investigations have shown that they all take the business of achieving the stated goals very seriously.
Vi skal ikke forsøge at besvare dette spørgsmål men blot bemærke, at det har to aspekter, som har haft forskellig vægt i diskussionen:
Without trying to answer the question, we will note that it has two aspects, which have weighed in different degrees with those who have discussed it:
(i) er yderligere samordning nødvendig for at beskytte forsikringstageren eller den forsikrede?
(i) is more coordination needed for protection of the policyholder or other insured person?
Vi vil nu redegøre nærmere for solvensmargenen, der er hjørnestenen i hele denne struktur.
We come now to the solvency margin, which is the keystone of the whole structure.
Solvensmargenen svarer til virksomhedens formue, fri for enhver påregnelig for pligtelse og med fradrag af immaterielle værdier.
The solvency margin corresponds to the undertaking's own funds, that is to say an amount representing the assets, free of all foreseeable liabilities, less any intangible items.
Den omfatter navnlig:
It includes in particular:
(i) den indbetalte grundkapital eller for gensidige forsikringsselskaber den faktiske grundfond og, på visse betingelser, halvdelen af den ikke-indbetalte grundkapital eller grundfond
(i) the paid-up share capital, or, in the case of a mutual concern, the effective initial fund and, subject to certain conditions, half of the not yet paid-up part of the share capital or of the initial fund;
(ii) reserver (lovmæssige og frie), der ikke modsvarer forpligtelserne
(ii) reserves (statutory reserves and free reserves) not corresponding to underwriting liabilities;
(iii) overført overskud
(iii) any carry-forward of profits;
(iv) for gensidige selskabers vedkommende, halvdelen af forskellen mellem de maksimale bidrag og de faktisk opkrævede bidrag fra medlemmerne, dog højst 50% af margenen
(iv) in the case of mutuais, half of the authorized calls on members, up to 50% of the total margin;
(v) på visse betingelser og med tilsynsmyndighedernes samtykke, eventuelle skjulte reserver.
(v) under certain conditions and with the approval of the supervisory authority, any hidden reserves.
Som det fremgår, er der i sidste punkt tale om mangel på harmonisering, hvilket kan skabe betydelige forskelle mellem medlemsstaterne.
It will be seen that the last item is a non-harmonization which may produce considerable differences between Member States.
De skjulte reserver vil normalt være forskellen mellem investeringernes anskaffelsespris (eller lavere ansættelse) og deres nutidsværdi.
The hidden reserves in question will usually be the difference between the purchase price (or lower valuation) of investments and their current value.
Solvensmargenen omfatter ikke de tekniske reserver, og den er en slags fri reserve, som virksomhederne skal have, ud over de tekniske reserver.
The solvency margin does not include the technical reserves, and is indeed a sort of free reserve which has to be held over and above the technical reserves.
Forskelle i de tekniske reserver, som skyldes, at der ikke er foretaget en harmoniseret beregning af dem, vil få indflydelse på solvensmargenen; det samme gælder forskelle i de værdiansættelsesmetoder, der anvendes på de aktiver, som danner grundlag for de tekniske reserver.
Any differences in the amounts of technical reserves resulting from the lack of harmonization in computing them will have a consequential effect upon the amount of the solvency margin; so will differences in the valuation methods applied to the assets representing the technical reserves.
Et forsikringsselskabs solvensmargen beregnes på grundlag af præmier og krav.
The amount of the solvency margin which an insurance undertaking must maintain is calculated by reference to premiums and claims.
Den er lig med det højeste af følgende to beløb:
It is equal to the higher of the two following amounts:
(a) Beløb beregnet i forhold til præmierne (første resultat):
(a) amount calculated by reference to premiums (first result):
18% af de samlede præmier eller bidrag (før fradrag af provision osv.) på op til 10 mio. ECU, plus
18% of the total amount of premiums or contributions (before deduction of commission, etc) up to ECU 10 million, plus
16% af de samlede præmier eller bidrag (før fradrag af provision osv.) over 10 mio. ECU
16% of the total amount of premiums or contributions (before deduction of commission, etc) above ECU 10 million;
(b) Beløb beregnet i forhold til skaderne (andet resultat): op til 7 mio. ECU: 26% af skaderne, plus over 7 mio. ECU: 23% af skaderne.
(b) amount calculated by reference to claims (second result): up to ECU 7 million: 26% of the amount of claims incurred, plus above ECU 7 million: 23% of the amount of claims incurred.