It is necessary from the point of view of the protection of lives assured that every assurance undertaking should establish adequate technical provisions. The calculation of such provisions is based for the most part on actuarial principles. Those principles should be coordinated in order to facilitate mutual recognition of the prudential rules applicable in the various Member States.
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New version applies from 01/01/2007 — introduced by Council Directive 2006/101/EC.
67 provisions change.
Later versions: 21/09/2007, 20/03/2008, 01/07/2013, 01/01/2016.
Recital 35 changes in this version: compare with the current text.