Suitability requirements applicable to the insurance and reinsurance sector

Regulatory context

  1. Articles 40, 41, 45 to 47, 80 to 83, 93, 94 and 443 of the Law of 13 March 2016 on the legal status and supervision of insurance and reinsurance companies (hereinafter the "Insurance Supervision Law")
  2. Article 526ter of the Belgian Companies Code
  3. Articles 258 and 273 of Delegated Regulation 2015/35
  4. Royal Decree of 15 April 2018 approving the NBB regulation of 6 February 2018 on the expertise of those responsible for the compliance function
  5. Royal Decree of 20 June 2012 approving the regulation of the National Bank of Belgium of 6 December 2011 on exercise of external functions by managers of regulated companies
  6. Royal Decree of 19 July 2002 approving the CBFA Regulation of 9 July 2002 on external functions
  7. Circular NBB_2018_25 of 18 September 2018 regarding the suitability of directors, members of the management committee, responsible persons of independent control functions and senior managers of financial institutions
  8. Circular NBB_2016_31 on the expectations of the National Bank of Belgium regarding the governance system for the insurance and reinsurance sector updated by the Communication NBB_2018_23
  9. Circular NBB_2017_21 of 7 July 2017 on loans, credits and guarantees to managers, shareholders and related persons
  10. Circular PPB-2006-13-CPB-CPA of 13 November 2006 on exercise of external functions by managers of regulated companies
  11. EIOPA Guidelines on System of Governance of 14 September 2015 (guidelines 11 to 14)
  12. EIOPA Decision of 30 January 2017 on the collaboration of the insurance supervisory authorities