Article 32 Prohibition of refusal of reinsurance contracts or retrocession contracts | Directive 2009/138/EC - Insurance and Reinsurance Directive (recast) (Solvency II) | Better Regulation

AI Summary of Article 32 Prohibition of refusal of reinsurance contracts or retrocession contracts

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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes

Version date: 6 January 2010 - onwards

Article 32 Prohibition of refusal of reinsurance contracts or retrocession contracts

1. The home Member State of an insurance undertaking shall not refuse a reinsurance contract concluded with a reinsurance undertaking or an insurance undertaking authorised in accordance with Article 14 on grounds directly related to the financial soundness of that reinsurance undertaking or that insurance undertaking.

2. The home Member State of the reinsurance undertaking shall not refuse a retrocession contract concluded by a reinsurance undertaking with a reinsurance undertaking or an insurance undertaking authorised in accordance with Article 14 on grounds directly related to the financial soundness of that reinsurance undertaking or that insurance undertaking.

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