On 28 July 2015, the Decree for the implementation of the Solvency II Framework Directive (No 2009/138/EC) and the Delegated Regulation (No 2015/35) containing implementing rules for Solvency II (the Delegated Regulation) (Implementatiebesluit richtlijn en verordening solvabiliteit II) was published (the Decree).
The Decree implements the Solvency II Framework Directive as amended by the Omnibus II Directive (No 2014/51/EU) (together referred to as the Solvency II Directive) as well as the Delegated Regulation which contains implementing rules for Solvency II by amending a number of decrees based on the Act on the Financial Supervision (Wet op financieel toezicht). The Decree should be read in conjunction with the Act implementing the Solvency II Directive (Implementatiewet richtlijn solvabiliteit II) (the Solvency II Act) and the Act implementing the Omnibus II Directive (Wet implementatie Omnibus II-richtlijn) (the Omnibus II Act). The Solvency II Directive and the Delegated Regulation together form an integral, and in many ways revised, prudential supervisory regime for insurance companies.
Please note that in a separate decree (which was also published on 28 July 2015) it has been decided that the Decree, as well as the majority of the provisions of both the Solvency II Act and the Omnibus II Act, will come into effect on 1 January 2016.
View the Decree, 10 July 2015 (in Dutch).
