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New version applies from 01/05/2004 — introduced by Council Directive 2004/66/EC. 146 provisions change. Later versions: 13/04/2005, 10/12/2005, 01/01/2007, 21/09/2007, 20/03/2008, 01/07/2013, 01/01/2016. Article 21 moves to another heading in this version: compare.

Article 21 - Premiums for new business

Article 21
Premiums for new business

Premiums for new business shall be sufficient, on reasonable actuarial assumptions, to enable assurance undertakings to meet all their commitments and, in particular, to establish adequate technical provisions.

For this purpose, all aspects of the financial situation of an assurance undertaking may be taken into account, without the input from resources other than premiums and income earned thereon being systematic and permanent in such a way that it may jeopardise the undertaking's solvency in the long term.

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