special purpose vehicle

Defined in Article 13, Solvency II Directive

Definitions over time (1)

1. 09/12/2011 – today applies on 12/11/2026 Article 13, Solvency II Directive Scope: Whole act

   For the purposes of this Directive, the following definitions shall apply:

   ‘special purpose vehicle’ means any undertaking, whether incorporated or not, other than an existing insurance or reinsurance undertaking, which assumes risks from insurance or reinsurance undertakings and which fully funds its exposure to such risks through the proceeds of a debt issuance or any other financing mechanism where the repayment rights of the providers of such debt or financing mechanism are subordinated to the reinsurance obligations of such an undertaking;

Used in (27 places in 12 provisions on 12/11/2026)

Solvency II Directive (27 in 12)

Recital 91² · Recital 92³ · Recital 93 · Recital 94 · Article 4⁵ · Article 13 · Article 77 · Article 81² · Article 82 · Article 211⁸ · Article 308a · Article 308d