large risks

Defined in Article 13, Solvency II Directive

Definitions over time (5)

1. 30/01/2027 – today Article 13, Solvency II Directive Scope: Whole act

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

   ‘large risks’ means: risks classified under classes 4, 5, 6, 7, 11 and 12 in Part A of Annex I; risks classified under classes 14 and 15 in Part A of Annex I, where the policy holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions and the risks relate to such activity; risks classified under classes 3, 8, 9, 10, 13 and 16 in Part A of Annex I in so far as the policy holder exceeds the limits of at least two of the following criteria: a balance-sheet total of EUR 6 600 000; a net turnover, within the meaning of Article 2, point (5), of Directive 2013/34/EU, of EUR 13 600 000; an average number of 250 employees during the financial year. If the policy holder belongs to a group of undertakings for which consolidated accounts within the meaning of Directive 2013/34/EU are drawn up, the criteria set out in point (c) of the first subparagraph shall be applied on the basis of the consolidated accounts. Member States may add to the category referred to in point (c) of the first subparagraph the risks insured by professional associations, joint ventures or temporary groupings;

2. 19/10/2021 – 30/01/2027 applies on 12/11/2026 Article 13, Solvency II Directive Scope: Whole act

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

   ‘large risks’ means: risks classified under classes 4, 5, 6, 7, 11 and 12 in Part A of Annex I; risks classified under classes 14 and 15 in Part A of Annex I, where the policy holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions and the risks relate to such activity; risks classified under classes 3, 8, 9, 10, 13 and 16 in Part A of Annex I in so far as the policy holder exceeds the limits of at least two of the following criteria: a balance-sheet total of EUR 6 600 000; a net turnover, within the meaning of Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54(3)(g) of the Treaty on the annual accounts of certain types of companies (^{2}), of EUR 13 600 000; an average number of 250 employees during the financial year. If the policy holder belongs to a group of undertakings for which consolidated accounts within the meaning of Directive 83/349/EEC are drawn up, the criteria set out in point (c) of the first subparagraph shall be applied on the basis of the consolidated accounts. Member States may add to the category referred to in point (c) of the first subparagraph the risks insured by professional associations, joint ventures or temporary groupings;

3. 30/06/2021 – 19/10/2021 Article 13, Solvency II Directive Scope: Whole act

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

   ‘large risks’ means: risks classified under classes 4, 5, 6, 7, 11 and 12 in Part A of Annex I; risks classified under classes 14 and 15 in Part A of Annex I, where the policy holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions and the risks relate to such activity; risks classified under classes 3, 8, 9, 10, 13 and 16 in Part A of Annex I in so far as the policy holder exceeds the limits of at least two of the following criteria: a balance-sheet total of EUR 6,2 million; a net turnover, within the meaning of Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54(3)(g) of the Treaty on the annual accounts of certain types of companies (^{2}), of EUR 12,8 million; an average number of 250 employees during the financial year. If the policy holder belongs to a group of undertakings for which consolidated accounts within the meaning of Directive 83/349/EEC are drawn up, the criteria set out in point (c) of the first subparagraph shall be applied on the basis of the consolidated accounts. Member States may add to the category referred to in point (c) of the first subparagraph the risks insured by professional associations, joint ventures or temporary groupings;

4. 12/01/2017 – 30/06/2021 Article 13, Solvency II Directive Scope: Whole act

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

   ‘large risks’ means: risks classified under classes 4, 5, 6, 7, 11 and 12 in Part A of Annex I; risks classified under classes 14 and 15 in Part A of Annex I, where the policy holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions and the risks relate to such activity; risks classified under classes 3, 8, 9, 10, 13 and 16 in Part A of Annex I in so far as the policy holder exceeds the limits of at least two of the following criteria: a balance-sheet total of EUR 6,2 million; a net turnover, within the meaning of Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54(3)(g) of the Treaty on the annual accounts of certain types of companies (^{2}), of EUR 12,8 million; an average number of 250 employees during the financial year.

5. 09/12/2011 – 12/01/2017 Article 13, Solvency II Directive Scope: Whole act

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

   ‘large risks’ means: risks classified under classes 4, 5, 6, 7, 11 and 12 in Part A of Annex I; risks classified under classes 14 and 15 in Part A of Annex I, where the policy holder is engaged professionally in an industrial or commercial activity or in one of the liberal professions and the risks relate to such activity; risks classified under classes 3, 8, 9, 10, 13 and 16 in Part A of Annex I in so far as the policy holder exceeds the limits of at least two of the following criteria: a balance-sheet total of EUR 6,2 million; a net turnover, within the meaning of Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54(3)(g) of the Treaty on the annual accounts of certain types of companies (^{30}), of EUR 12,8 million; an average number of 250 employees during the financial year. If the policy holder belongs to a group of undertakings for which consolidated accounts within the meaning of Directive 83/349/EEC are drawn up, the criteria set out in point (c) of the first subparagraph shall be applied on the basis of the consolidated accounts. Member States may add to the category referred to in point (c) of the first subparagraph the risks insured by professional associations, joint ventures or temporary groupings;

Used in (3 places in 3 provisions on 12/11/2026)

Solvency II Directive (3 in 3)

Article 13 · Article 184 · Article 190