Legalize / European Union / Delegated Regulation

Commission Delegated Regulation (EU) 2026/269 of 29 October 2025 amending Delegated Regulation (EU) 2015/35 as regards technical provisions, long-term guarantee measures, own funds, equity risk, spread risk on securitisation positions, other standard formula capital requirements, reporting and disclosure, proportionality and group solvency

Type Delegated Regulation

Publication 2026-02-18

State In force

Text As published

Department European Commission, FISMA

Source EUR-Lex

articles 4

This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.

Reform history JSON API

(ii) the undertaking does not represent more than 5 % of the life market or non-life market of the home Member State of the undertaking, where the life market share is based on gross technical provisions and the non-life market share is based on gross written premiums;

(d) the supervisory authority has not identified unresolved material concerns arising from the system of governance of the undertaking;

(e) the undertaking is able to demonstrate that the use a prudent deterministic valuation is proportionate in relation to the nature, scale and complexity of the risks arising from the obligations for which the undertaking seeks to apply that valuation;

(f) the time value of options and guarantees, measured based on the prudent harmonised reduced set of scenarios, of the contracts where the prudent deterministic valuation is applied represent less than 5 % of the Solvency Capital Requirement.

Where an insurance or reinsurance undertaking is granted the approval referred to in the first subparagraph, Article 34a(2) and (3), shall apply.

The supervisory authority shall withdraw the approval granted to an insurance or reinsurance undertaking that is not classified as small and non-complex undertaking to use the proportionality measure provided for in Article 77(8) of Directive 2009/138/EC, where any of the conditions set out in the first subparagraph are no longer fulfilled during at least one year.

Paragraph 1, first subparagraph, point (c)(i), shall only apply to life undertakings and to undertakings pursuing both life and non-life activities whose technical provisions related to the life activities represent 20 % or more of the total technical provisions gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, as referred to in Article 76 of Directive 2009/138/EC.

Notwithstanding paragraph 1, first subparagraph, supervisory authorities may still approve the use of the proportionality measure provided for in Article 77(8) of Directive 2009/138/EC to an insurance and reinsurance undertaking which does not meet the condition set out in point (c) of that paragraph, where they conclude, on the basis of the elements of the supervisory review process that are relevant for this proportionality measure, that the risk profile of the undertaking is sufficiently low.

Article 327g

Waiver from liquidity risk management plan covering liquidity analysis over the short term

The supervisory authority shall approve the use of the proportionality measure provided for in Article 144a(4) of Directive 2009/138/EC by an insurance and reinsurance undertaking that is not classified as small and non-complex undertaking, the supervisory authority shall take into account the following conditions:

(a) the supervisory authority concludes, on the basis of the supervisory review process, that the undertaking:

(i) is able to withstand any current or future risks;

(ii) is not subject to on-going supervisory measures to remedy material non-compliance with Directive 2009/138/EC;

(b) the supervisory authority concludes that the undertaking does not have a complex business model, taking into account its business strategy, its business plan, the complexity of the insurance products offered and its investment portfolio;

(c) the undertaking meets all of the following conditions, subject to paragraphs 2, 3 and 4:

(i) the technical provisions from life activities, gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, as referred to in Article 76 of Directive 2009/138/EC, are not higher than EUR 12 000 000 000;

(ii) the annual gross written premium income from non-life activities is not higher than EUR 2 000 000 000;

(iii) the undertaking does not represent more than 5 % of the life market or non-life market of the home Member State of the undertaking, where the life market share is based on gross technical provisions and the non-life market share is based on gross written premiums;

(d) the undertaking’s Solvency Capital Requirement is exceeded by an appropriate margin taking into account the internal target solvency position of the undertaking as specified in its medium-term capital management plan;

(e) the supervisory authority has not identified unresolved material concerns arising from the system of governance of the undertaking;

(f) the undertaking is not exposed to material liquidity risk from both the asset and liability sides of the balance sheet, taking into account:

(i) the availability of liquid assets and other liquidity sources;

(ii) the level of liquidity of insurance contracts;

(iii) the liquidity needs arising from insurable events;

(iv) the potential impact of policy holders’ behaviour on the liquidity position of the undertaking;

(v) the exposure to off-balance sheet items;

(vi) the concentration of counterparty exposures to reinsurance undertakings

(vii) where the undertaking is part of a group, the fungibility, availability and transferability of liquid assets across the group;

(g) the supervisory authority has not identified material concerns about the liquidity position of the undertaking stemming from economic or macroeconomic market trend or the amount and quality of own funds items.

The supervisory authority shall withdraw the approval granted to an insurance or reinsurance undertaking that is not classified as small and non-complex undertaking to use the proportionality measure provided for in Article 144a(4) of Directive 2009/138/EC, where any of the conditions set out in the first subparagraph are no longer fulfilled.

Paragraph 1, first subparagraph, point (c)(i), shall only apply to life undertakings and to undertakings pursuing both life and non-life activities whose technical provisions related to the life activities represent 20 % or more of the total technical provisions gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, as referred to in Article 76 of Directive 2009/138/EC.

Paragraph 1, first subparagraph, point (c)(ii), shall only apply to non-life undertakings and to undertakings pursuing both life and non-life activities whose annual gross written premium income related to the non-life activities represent 40 % or more of its total annual gross written premium income.

Notwithstanding paragraph 1, first subparagraph, supervisory authorities may still approve the use of the proportionality measure provided for in Article 144a(4) of Directive 2009/138/EC to an insurance and reinsurance undertaking which does not meet the condition set out in paragraph 1, first subparagraph point (c), of this Article, where they conclude, on the basis of the elements of the supervisory review process that are relevant for this proportionality measure, that the risk profile of the undertaking is sufficiently low.’

;

(105) in Article 328, paragraph 1 is amended as follows:

(a) the introductory wording is replaced by the following:

‘When assessing whether the exclusive application of method 1 is not appropriate, thus allowing the group solvency to be calculated in accordance with method 2 or a combination of methods 1 and 2 laid down in Articles 230 to 233a of Directive 2009/138/EC, the group supervisor shall, in consultation with the other supervisory authorities concerned and the participating insurance or reinsurance undertaking or the insurance holding company or the mixed financial holding company, consider all of the following elements:’;

(b) the following point (ca) is inserted:

‘(ca) whether, for the purposes of point (b), the group indicates in accordance with Article 343(5), point (a)(iii), that it intends to apply the integration technique 1 referred to in Annex XVIII, Section B, to the related undertaking which is not included in the scope of the internal model;’;

(106) Article 329 is amended as follows:

(a) paragraph 1 is replaced by the following

‘1. For the purposes of this Title, Article 228(1) of Directive 2009/138/EC shall apply.’

;

(b) paragraph 2 is replaced by the following:

‘2. For the purposes of this Title, Article 226(1) of Directive 2009/138/EC shall apply.

For the purposes of Article 235 of Directive 2009/138/EC, where the parent insurance holding company or mixed financial holding company has issued subordinated debt or has other eligible own funds subject to the limits set out in Article 98 of that Directive, Article 226(2) of that Directive shall apply.’

;

(107) Article 330 is amended as follows:

(a) paragraph 1 is replaced by the following:

‘1. When assessing whether certain own funds that are eligible to cover the Solvency Capital Requirement referred to in Articles 69, 72, 74, 76, 78, and 79 of a related insurance or reinsurance undertaking, a related third country insurance or reinsurance undertaking, an insurance holding company or a mixed financial holding company, cannot effectively be made available to cover the group Solvency Capital Requirement, the supervisory authorities shall consider all of the following elements:

(a) whether the own-fund item is subject to legal or regulatory requirements that restrict the ability of that item to absorb all types of losses wherever they arise in the group;

(b) whether there are legal or regulatory requirements that restrict the transferability of assets to another insurance or reinsurance undertaking;

(c) whether making those own funds available for covering the group Solvency Capital Requirement would not be possible within a maximum of 9 months.’

;

(b) in paragraph 2, the first subparagraph is replaced by the following:

‘In the assessment referred to paragraph 1, the supervisory authorities shall consider the restrictions that would exist on a going-concern basis.’;

‘3. The following items shall be assumed not to be effectively available to cover the group Solvency Capital Requirement:

(a) ancillary own funds;

(b) preference shares, subordinated mutual members account and subordinated liabilities;

(c) an amount equal to the value of net deferred tax assets;

(d) items referred to in Article 222(2) of Directive 2009/138/EC.

For the purposes of point (c) of the first subparagraph, the amount of deferred tax asset may be reduced by the amount of the associated deferred tax liability provided that those deferred tax assets and associated deferred tax liabilities both arise from the tax law of one Member State or third country and the taxation authority of that Member State or third country permits such offsetting.

Where the participating undertaking can demonstrate to the satisfaction of the group supervisor that the assumption referred to in points (a), (b) and (c) of the first subparagraph for one of the items is inappropriate in the specific circumstances of the group, the participating undertaking may include that item in the own funds available to cover the group Solvency Capital Requirement.’

;

(d) the following paragraph 4a is inserted:

‘4a. The amount of minority interest in a subsidiary exceeding the contribution of that subsidiary to the group solvency as referred to in paragraph 4, point (a), shall be calculated by multiplying the amount referred to in point (a) of this paragraph by the factor referred to in point (b) of this paragraph:

(a) the difference between the total eligible own funds of the subsidiary net of intragroup subordinated debt and ancillary own funds, and the higher of the following:

(i) the contribution of the subsidiary undertaking to the group Solvency Capital Requirement referred to in paragraph 6;

(ii) the total amount of non-available own fund items other than those referred to in paragraph 4 from the subsidiary undertaking, net of intragroup subordinated debt and ancillary own funds;

(b) the difference between 1 and the proportion of the subscribed capital that is held, directly or indirectly, by the parent undertaking belonging to the group for which the group solvency is calculated.’

;

(e) in paragraph 6, the following subparagraph is added:

‘The percentage referred to in the first subparagraph, point (a), shall not exceed 100 %.’;

(108) Article 331 is amended as follows:

(a) the title is replaced by the following:

‘Article 331

Classification of own-fund items of insurance and reinsurance undertakings at group level’;

(b) paragraph 1 is replaced by the following:

‘1. Where an own-fund item has been classified into one of the three tiers based on the criteria set out in Title I, Chapter IV, Section 2 by an insurance or reinsurance undertaking that is included in the calculation of the group solvency, the own-fund item shall be classified in the same tier at group level provided that all of the following additional requirements are met:

(a) the undertaking concerned complies with Articles 71, 73 and 77 of this Regulation;

(b) the own-fund item is clear of encumbrances, including within the meaning of Article 222(6) of Directive 2009/138/EC, and is not connected with any other transaction, which when considered with the own-fund item could result in that own-fund item not satisfying the requirements set out in Article 94 of that Directive at group level.’

;

‘(a) the term “Solvency Capital Requirement” in Articles 71, 73 and 77 of this Regulation shall mean both the Solvency Capital Requirement of the undertaking that has issued the own-fund item and the group Solvency Capital Requirement;’;

(d) paragraph 4 is replaced by the following:

‘4. Notwithstanding paragraph 1, where an insurance or reinsurance undertaking has included in Tier 2 an own-fund item which would qualify for inclusion in Tier 1 in accordance with Article 73(1), point (j), that classification shall not prohibit the classification of the same own-fund item in Tier 1 at group level, provided that the limit set out in Article 82(3) is complied with at group level.’

;

(e) the following paragraph 5 is added:

‘5. Notwithstanding paragraph 2, point (a), for own-fund items issued by an insurance or reinsurance undertaking before it became part of the group, the term “Solvency Capital Requirement” in Articles 71, 73 and 77 of this Regulation shall be understood as referring only to the Solvency Capital Requirement of that related undertaking, where the undertaking has been a related undertaking of the group for less than two financial years and is included in the calculation of the group solvency.

The first subparagraph shall only apply where the group has been subject to group supervision for at least three years, and the participating insurance or reinsurance undertaking, the insurance holding company or mixed financial holding company demonstrates in the own-risk and solvency assessment that it will be able to comply with its group Solvency Capital Requirement without such own-fund items, once the related undertaking has been part of the group for more than two financial years.’

;

(109) Article 332 is amended as follows:

(a) the title is replaced by the following:

‘Article 332

Classification of own-fund items of third-country insurance and reinsurance undertakings at group level’;

(b) paragraph 1 is replaced by the following:

‘1. Where an own-fund item has been issued by a third-country insurance or reinsurance undertaking, the participating undertaking shall classify the own-fund item using the criteria for classification set out in Title I, Chapter IV, Section 2, provided that all of the following additional requirements are met:

(a) the undertaking concerned complies with Articles 71, 73 and 77 of this Regulation;

(b) the own-fund item is clear of encumbrances, including within the meaning of Article 222(6) of Directive 2009/138/EC, and is not connected with any other transaction, which when considered with the own-fund item, could result in that own-fund item not satisfying the requirements set out in Article 94 of that Directive at group level.’

;

‘3. Paragraph 2, point (a), shall not apply to own-fund items issued by a third-country insurance or reinsurance undertaking before it became part of the group, where that undertaking has been a related undertaking of that group for less than two financial years and is included in the calculation of the group solvency.

The first subparagraph shall only apply where the group has been subject to group supervision for at least three years, and the participating insurance or reinsurance undertaking, the insurance holding company or mixed financial holding company demonstrates in the own-risk and solvency assessment that it will be able to comply with its group Solvency Capital Requirement, without such own-fund items, once the related undertaking has been part of the group for more than two financial years.’

;

(110) Article 333 is amended as follows:

(a) in paragraph 1, point (b) is replaced by the following:

‘(b) the own-fund item is clear of encumbrances, including within the meaning of Article 222(6) of Directive 2009/138/EC, and is not connected with any other transaction, which when considered with the own-fund item, could result in that own-fund item not satisfying the requirements set out in Article 94 of that Directive at group level.’;

(b) the following paragraph 4 is added:

‘4. Paragraph 2, point (a) shall not apply to own-fund items issued by intermediate insurance holding companies, intermediate mixed financial holding companies or subsidiary ancillary services undertakings before they became part of the group, where such undertakings have been related undertakings of the group for less than two financial years and are included in the calculation of the group solvency.

The first subparagraph shall only apply where the group has been subject to group supervision for at least three years, and the participating insurance or reinsurance undertaking, the insurance holding company or mixed financial holding company demonstrates in the own-risk and solvency assessment that it will be able to comply with its group Solvency Capital Requirement without such own-fund items once the related undertaking has been part of the group for more than two financial years.’

;

(111) Article 335 is amended as follows:

(a) the title is replaced by the following:

‘Article 335

Determination of consolidated data’;

(b) paragraph 1 is replaced by the following:

‘1. Consolidated data for the calculation of group solvency in accordance with method 1 or a combination of methods as referred to in Articles 230 and 233a of Directive 2009/138/EC respectively, shall consist of all of the following:

(a) full consolidation of data of all the insurance or reinsurance undertakings, third-country insurance or reinsurance undertakings, insurance holding companies, mixed financial holding companies, holding companies of third-country insurance and reinsurance undertakings and ancillary services undertakings which are subsidiaries of the parent undertaking;

(b) full consolidation of data of special purpose vehicles to which the participating undertaking or one or several of its subsidiaries has transferred risk and which are not excluded from the scope of the group solvency calculation pursuant to Article 329(3);

(c) proportional consolidation of data of the insurance or reinsurance undertakings, third-country insurance or reinsurance undertakings, insurance holding companies, mixed financial holding companies, holding companies of third-country insurance and reinsurance undertakings and ancillary services undertakings managed by an undertaking as referred to in point (a) or by the participating undertaking of the group for which the group solvency is calculated, together with one or more undertakings not included in point (a) and different from the participating undertaking, where those undertakings' responsibility is limited to the share of the capital they hold and those undertakings have rights to the assets and obligations for the liabilities, relating to the related undertakings;

(d) on the basis of the adjusted equity method referred to in Article 13(3), data of all holdings in related insurance or reinsurance undertakings, third-country insurance or reinsurance undertakings, insurance holding companies, mixed financial holding companies and holding companies of third-country insurance and reinsurance undertakings, which are not subsidiaries of the parent undertaking and which are not covered by points (a) and (c);

(e) for the sole purposes of Article 233a(1), point(b), of Directive 2009/138/EC, the difference between the following:

(i) the value of holdings in related undertakings referred to in Article 220(3) of that Directive to which method 2 applies, calculated in accordance with Article 13 of this Regulation;

(ii) the proportional share of the Solvency Capital Requirement of those related undertakings;

(f) in accordance with Article 13 of this Regulation, data of all related undertakings, including ancillary services undertakings, collective investment undertakings and investments packaged as funds, other than those referred to in points (a) to (e) of this paragraph.’

;

‘4. For the purposes of paragraph 1, point (e), of this Article, “holdings in related undertakings” shall mean the ownership, direct or by way of control, of eligible own funds of such related undertakings.’

;

(112) Article 336 is replaced by the following

‘Article 336

Calculation of the Solvency Capital Requirement at group level calculated on the basis of consolidated data

For the purposes of Article 230(1), second subparagraph, point (b), and Article 233a(1), point (b)(i), of Directive 2009/138/EC, the Solvency Capital Requirement at group level calculated on the basis of consolidated data shall be the sum of the following:

(a) a Solvency Capital Requirement calculated on the basis of consolidated data as referred to in Article 335(1), points (a), (b), (c) and (e), data of collective investment undertakings and investments packaged as funds which are subsidiaries of the parent undertaking, following the rules laid down in Title I, Chapter VI, Section 4 of Directive 2009/138/EC;

(b) the proportional share of the Solvency Capital Requirement of each undertaking referred to in Article 335(1), point (d), of this Regulation;

(c) for undertakings as referred to in Article 335(1), point (f), of this Regulation, other than undertakings covered by points (a) and (d) of this paragraph, the amount determined in accordance with Article 13, Articles 168 to 171d, Articles 182 to 187 and Article 188 of this Regulation;

(d) for related collective investment undertakings or investments packaged as funds as referred to in Article 335(1), point (f) of this Regulation which are not subsidiaries of the participating insurance or reinsurance undertaking, and to which Article 84(1) of this Regulation is applied at solo level, the amount determined in accordance with Title I, Chapter V and Article 84(1) of this Regulation.

For the purposes of the first subparagraph, point (a), Articles 168 to 171d shall not apply to holdings in related undertakings referred to in Article 220(3) of Directive 2009/138/EC.

For the purposes of the first subparagraph, point (b), the Solvency Capital requirement shall be calculated for a related third-country insurance or reinsurance undertaking which is not a subsidiary as if that undertaking had its head office in the Union.’

;

(113) the following Articles 336a and 336b are inserted:

‘Article 336a

Long-term equity investments at group level

For the purposes of Article 336, point (a), the amount of equities that are treated as long-term equity investments shall not be higher than the sum of the following:

(a) the amounts of equities that are classified as long-term equity investments by undertakings referred to in Article 335(1), point (a);

(b) the proportional share of equities that are classified as long-term equity investments by undertakings referred to in Article 335(1), point (c).

Notwithstanding paragraph 1, where a group is exposed to significant liquidity risk that is not captured at the level of individual insurance or reinsurance undertakings, or where there are significant intragroup transactions which may result in the calculation of the first subparagraph not being adequate, the group supervisor may require that the participating undertaking shall recalculate, on the basis of the consolidated data referred to in Article 335, the amount of equities that may be treated as long-term equity investments at group level for the purposes of paragraph 1, point (a), of this Article, instead of assuming that equities that are classified as long-term equity investments by an insurance or reinsurance undertaking may automatically qualify as long-term equity investments at group level.

Article 336b

Simplified calculation for participations in immaterial related undertakings

Paragraphs 2 and 3 of this Article shall apply to participations in immaterial related undertakings as referred to in Article 229a of Directive 2009/138/EC, other than undertakings as referred to in Article 228 of that Directive.

By way of derogation from Article 335(1), where the participating insurance or reinsurance undertaking, the insurance holding company or the mixed financial holding company is allowed to apply a simplified approach to participations in related undertakings that are immaterial, such related undertakings shall be included in the consolidated data in accordance with Article 13 of this Regulation.

By way of derogation from Article 336, where the participating insurance or reinsurance undertaking, the insurance holding company or the mixed financial holding company is allowed to apply a simplified approach to participations in related undertakings that are immaterial, such undertakings shall not be included in points (a) to (e) of that Article.

Where the immaterial related undertaking is an insurance or reinsurance undertaking, the simplified approach shall consist in adding to the sum referred to in Article 336 the maximum of the following:

(a) the amount determined in accordance with Article 13, Articles 168 to 171d, Articles 182 to 187 and Article 188 of this Regulation;

(b) the Solvency Capital Requirement of the related undertaking.

Where the immaterial related undertaking is a third-country insurance or reinsurance undertaking, the simplified approach shall consist in adding to the sum referred to in Article 336 the maximum of the following:

(a) the amount determined in accordance with Article 13, Articles 168 to 171d, Articles 182 to 187 and Article 188 of this Regulation;

(b) the capital requirement, as laid down in the third country concerned.

For immaterial related undertakings other than those referred to in the second and third subparagraphs, the simplified approach shall consist in adding to the sum referred to in Article 336 the amount determined in accordance with Article 13, Articles 168 to 171d, Articles 182 to 187 and Article 188.’

;

(114) Article 341 is deleted;

(115) in Article 343(5), point (a)(iii), the following text is added:

‘, and the application shall describe the techniques used to integrate undertakings as a whole, which are excluded from the scope of the model, and demonstrate the appropriateness of those techniques as required by Article 239(4) of this Regulation, including in cases where the techniques set out in Annex XVIII to this Regulation are applied to undertakings as a whole and not to specific risks. Where it is intended to apply the integration technique 1 referred to in section B of Annex XVIII to this Regulation to one or more of the undertakings that are excluded from the scope of the partial internal model, the application shall also explain why that integration technique would be more appropriate than applying a combination of methods 1 and 2 laid down in Article 233a of Directive 2009/138/EC, where method 2 would be applied to such undertakings;’;

(116) Article 359 is amended as follows:

(a) the introductory wording is replaced by the following:

‘Article 290, Article 291 and Articles 293 to 298 of this Regulation shall apply to the group solvency and financial condition report which participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies are required to disclose publicly. In addition, the group solvency and financial condition report shall contain all of the following information:’;

(b) point (b) is replaced by the following:

‘(b) regarding the group’s system of governance, information on any material intra-group outsourcing arrangements;’;

‘(ii) qualitative and quantitative information on any significant restriction to the fungibility and transferability of own funds eligible for covering the group Solvency Capital Requirement, including the quantification referred to in Article 308b(17), second subparagraph of Directive 2009/138/EC;’;

(117) in Article 360, paragraph 3 is deleted;

(118) Article 362 is deleted;

(119) in Article 363, paragraph 2 is replaced by the following:

‘2. Without prejudice to the requirements for immediate disclosure set out in Article 54(1) of Directive 2009/138/EC, any updated version of the group solvency and financial condition report shall be clearly identified, and shall indicate the date of the update. It shall be disclosed as soon as possible after the major development referred to in paragraph 1 of this Article, and shall replace the previously disclosed version.’

;

(120) Article 364 is deleted;

(121) in Article 365, paragraph 3 is replaced by the following:

‘3. The information at group level shall follow the structure set out in Annex XX Section A.2. The information for any subsidiary covered by that report shall contain the information required by Article 51 of Directive 2009/138 /EC and shall follow the structure set out in Annex XX, Section A. Participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies may decide, when providing any part of the information to be disclosed for a subsidiary covered other than information included in the part targeted at policy holders and beneficiaries, to refer to the corresponding information disclosed at group level, provided that such information is equivalent in both nature and scope to the information that would otherwise be provided at the level of the subsidiary.’

;

(122) Article 366 is amended as follows:

(a) in paragraph 2, ‘consultating’ is replaced by ‘consulting’;

(b) paragraph 3 is replaced by the following:

‘3. Where any of the subsidiaries covered by the single solvency and financial condition report has its head office in a Member State whose official language or languages are different from the language or languages in which that report is disclosed in accordance with paragraphs 1 and 2, the supervisory authority concerned may, after having consulted the group supervisor and the group itself, require the participating insurance and reinsurance undertaking, insurance holding company or mixed financial holding company to include in that report a translation of the information related to that subsidiary into an official language of that Member State. The participating insurance and reinsurance undertaking, insurance holding company or mixed financial holding company shall disclose a translation of the information from that report related to that subsidiary, unless an exemption has been granted by the supervisory authority concerned.’

;

(123) Article 368 is deleted;

(124) in Article 369, paragraph 2 is replaced by the following:

‘2. Without prejudice to the requirements for immediate disclosure set out in Article 54(1) of Directive 2009/138/EC, any updated version of the single solvency and financial condition report shall be clearly identified as such and shall indicate the date of the update. It shall be disclosed as soon as possible after the major development referred to in paragraph 1 of this Article and shall replace the previously disclosed version.’

;

(125) Article 371 is deleted;

(126) Article 372 is replaced by the following:

‘Article 372

Elements and contents

Articles 304 to 311 of this Regulation shall apply to the information which participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies are to submit to the group supervisor. Where all insurance and reinsurance undertakings in the group are exempted from quarterly reporting obligations pursuant Article 35a(1) of Directive 2009/138/EC, the group regular supervisory report shall include annual quantitative templates only. Annual reporting obligations shall not include reporting on an item-by-item basis where all undertakings in the group are exempted from such reporting on an item-by-item basis in accordance with Article 35a(2) of that Directive.

The group regular supervisory report shall contain all of the following additional information:

(a) regarding the group’s business and performance:

(i) a description of the activities and sources of profits or losses for each material related undertaking referred to in Article 256a of Directive 2009/138/EC and for each significant branch referred to in Article 354(1) of this Regulation;

(ii) qualitative and quantitative information on significant intra-group transactions by insurance and reinsurance undertakings with the group, the amount of such transactions over the reporting period, and the outstanding balances at the end of the reporting period;

(b) regarding the group’s system of governance:

(i) a description of how the risk management and internal control systems and reporting procedures are implemented consistently by all undertakings within the scope of group supervision, as required by Article 246 of Directive 2009/138/EC;

(ii) qualitative and quantitative information on material specific risks at group level that are not captured by the Group Solvency Capital Requirement calculation and were not already covered by the ORSA supervisory report;

(iii) information on any material intragroup outsourcing arrangements;

(c) regarding the group’s capital management:

(i) qualitative and quantitative information on the Solvency Capital Requirement and own funds, in a format that allows for the assessment of the availability of own funds at group level, for any of the following related undertakings, insofar as the undertaking is included in the calculation of the group solvency:

(1) each insurance or reinsurance undertaking within the group;

(2) each intermediate insurance holding company, insurance holding company, intermediate mixed financial holding company, mixed financial holding company and ancillary services undertaking within the group, in which case notional solvency capital requirements shall be calculated in accordance with Article 226(1) of Directive 2009/138/EC;

(3) each related undertaking which is a credit institution, an investment firm, a financial institution, a UCITS management company, an alternative investment fund manager, or an institution for occupational retirement provisions;

(4) each related undertaking which is a non-regulated undertaking carrying out financial activities in which case notional solvency capital requirement shall be calculated;

(5) each related third country insurance or reinsurance undertaking;

(6) any other related undertaking;

(ii) a description of special purpose vehicles within the group which comply with Article 211 of Directive 2009/138/EC;

(iii) a description of special purpose vehicles within the group which are regulated by a third-country supervisory authority and comply with requirements equivalent to those set out in Article 211(2) of Directive 2009/138/EC, together with a description of the verification carried out by the participating insurance and reinsurance undertaking, insurance holding company or mixed financial holding company, assessing whether the requirements to which these special purpose vehicles are subject to in the third country are equivalent to those set out in Article 211(2) of Directive 2009/138/EC;

(iv) a description of each special purpose entity within the group other than those referred to in points (iii) and (vii) together with qualitative and quantitative information on the solvency requirement and own funds of those entities, where such is included in the calculation of the group solvency;

(v) where relevant, for all related insurance and reinsurance undertakings which are included in the calculation of the group solvency, qualitative and quantitative information on how those undertakings comply with Article 222(2) to (5) of Directive 2009/138/EC;

(vi) where relevant, qualitative and quantitative information on the own- fund items referred to in Article 222(3) of Directive 2009/138/EC that cannot effectively be made available to cover the Solvency Capital Requirement of the participating insurance or reinsurance undertaking, insurance holding company or mixed financial holding company for which the group solvency is calculated, including a description of how the adjustment to group own funds has been made;

(vii) where relevant, qualitative information on the reasons for the classification of own-fund items referred to in Articles 332 and 333 of this Regulation.

For the purposes of point (c)(i)(5), for undertakings whose head office is headquartered in a third-country whose solvency regime is deemed to be equivalent pursuant to Article 227 of Directive 2009/138/EC, where method 2 within the meaning of Article 233 of that Directive is used, the Solvency Capital Requirement and the own funds eligible to satisfy that requirement as laid down by the third country concerned shall be separately identified.’

;

(127) the following Article 372a is inserted:

‘Article 372a

Single Regular Supervisory Report: Structure and contents

Where participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies provide a single regular supervisory report, this Section shall apply.

The single regular supervisory report shall present separately the information to be reported at group level in accordance with Article 372, and the information to be reported in accordance with Articles 307 to 312 for each subsidiary covered by that report.

The information at group level and the information for any subsidiary covered by the single regular supervisory report shall each follow the structure set out in Annex XX, Section B. Participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies may decide, when providing any part of the information to be reported for a subsidiary covered, to refer to information at group level, where that information is equivalent in both nature and scope.’

;

(128) Articles 373 and 374 are replaced by the following:

‘Article 373

Information on material changes

Article 312 of this Regulation shall apply in relation to the group regular supervisory report or single regular supervisory report.

Article 374

Languages

Participating insurance and reinsurance undertakings, insurance holding companies or mixed financial holding companies shall report their group regular supervisory reporting in the language or languages determined by the group supervisor.

For the purposes of paragraph 1, where there is a college of supervisors and where the group supervisor intends to request the group regular supervisory reporting in multiple languages after having consulted the other supervisory authorities and the group itself, the languages to be used shall include at least one language commonly understood by the supervisory authorities concerned, as agreed in the college of supervisors.

Where any of the subsidiaries covered by the single regular supervisory reporting has its head office in a Member State whose official language or languages are different from the language or languages in which that report is reported in accordance with paragraphs 1 and 2, the group supervisor shall, at the request of the supervisory authority concerned, require the participating insurance and reinsurance undertaking, insurance holding company or mixed financial holding company to include in that report a translation of the information related to that subsidiary into an official language of that Member State.’

;

(129) Article 375 is deleted;

(130) in Title II, the following Chapter VII is added:

‘CHAPTER VII

PROPORTIONALITY MEASURES AT GROUP LEVEL

Article 377a

Investments in intangibles asset capital requirement for identifying small and non-complex groups

The capital requirements referred to in Article 213a(1), point (e)(iii), of Directive 2009/138/EC shall be the capital requirement for intangible asset risk referred to in Article 203 of this Regulation.

Article 377b

Proportionality measures for groups that are not classified as small and non-complex

When assessing whether to approve the use of a proportionality measure as referred to in Article 29d(1) of Directive 2009/138/EC to a parent insurance or reinsurance undertaking, insurance holding company or mixed financial holding company of a group as referred to in Article 213 of that Directive, Title I, Chapter XVI of this Regulation shall apply at the level of the group.

When assessing whether the group does not have a complex business model, the group supervisor shall also take into account the following:

(a) the group structure;

(b) the number of jurisdictions in which the group operates;

(c) the proportion of the group’s total revenues stemming from activities conducted outside the home Member State of the parent undertaking;

(d) the significance, both in numbers and revenues, of undertakings within the group that are not insurance or reinsurance undertakings;

(e) the materiality of the intragroup transactions.’

;

(131) Annex III is amended in accordance with Annex I to this Regulation;

(132) Annex V is amended in accordance with Annex II to this Regulation;

(133) Annex VI is amended in accordance with Annex III to this Regulation;

(134) Annex VII is replaced by the text in Annex IV to this Regulation;

(135) Annex VIII is replaced by the text in Annex V to this Regulation;

(136) the text in Annex VI to this Regulation is inserted as Annex VIIIa;

(137) Annex IX is amended in accordance with Annex VII to this Regulation;

(138) Annex X is replaced by the text in Annex VIII to this Regulation;

(139) Annex XIII is amended in accordance with Annex IX to this Regulation;

(140) Annex XVI is amended in accordance with Annex X to this Regulation;

(141) Annex XIX is replaced by the text in Annex XI to this Regulation;

(142) Annex XX is replaced by the text in Annex XII to this Regulation;

(143) Annex XXI is amended in accordance with Annex XIII to this Regulation;

(144) Annex XXII is amended in accordance with Annex XIV to this Regulation;

(145) Annex XXIII is amended in accordance with Annex XV to this Regulation;

(146) Annex XXIV is amended in accordance with Annex XVI to this Regulation;

(147) Annex XXV is amended in accordance with Annex XVII to this Regulation;

(148) Annex XXVI is amended in accordance with Annex XVIII to this Regulation.

Article 2

Entry into force and application

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 30 January 2027.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 29 October 2025.

For the Commission

The President

Ursula VON DER LEYEN

OJ L 335, 17.12.2009, p. 1, ELI: http://data.europa.eu/eli/dir/2009/138/oj.

Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 12, 17.1.2015, p. 1, ELI: http://data.europa.eu/eli/reg_del/2015/35/oj).

Directive (EU) 2025/2 of the European Parliament and of the Council of 27 November 2024 amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks and group and cross-border supervision, and amending Directives 2002/87/EC and 2013/34/EU (OJ L, 2025/2, 8.1.2025, ELI: http://data.europa.eu/eli/dir/2025/2/oj).

See European Commission, ‘A Competitiveness Compass for the EU’ (COM(2025) 30).

Ref. EIOPA-BoS-20-749.

See EIOPA-BoS-20-749.

Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions of 19 March 2025, ‘Savings and Investments Union. A Strategy to Foster Citizens’ Wealth and Economic Competitiveness in the EU’.

Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1, ELI: http://data.europa.eu/eli/reg/2013/575/oj).

See the White Paper for European Defence – Readiness 2030.

Commission Delegated Regulation (EU) 2018/1221 of 1 June 2018 amending Delegated Regulation (EU) 2015/35 as regards the calculation of regulatory capital requirements for securitisations and simple, transparent and standardised securitisations held by insurance and reinsurance undertakings (OJ L 227, 10.9.2018, p. 1, ELI: http://data.europa.eu/eli/reg_del/2018/1221/oj).

Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (OJ L 347, 28.12.2017, p. 35, ELI: http://data.europa.eu/eli/reg/2017/2402/oj).

ANNEX I

Annex III to Delegated Regulation (EU) 2015/35 is amended as follows:

(1) point 5 is replaced by the following:

‘5. Notwithstanding paragraph 1, the factor for geographical diversification shall be equal to 1 for segments 6, 10 and 11 set out in Annex II and for segment 4 set out in Annex XIV.’;

(2) in point 8, in the list of territories that region 4 (Southern Europe) consists of, ‘former Yugoslav Republic of Macedonia’ is replaced by ‘North Macedonia’.

ANNEX II

In Annex V to Delegated Regulation (EU) 2015/35, the table corresponding to regions and windstorm risk factors is replaced by the following:

‘ Regions and windstorm risk factors

Abbreviation of region r Region r Windstorm risk factor Q(windstorm,r)

AT Republic of Austria 0,06 %

BE Kingdom of Belgium 0,16 %

CZ Czech Republic 0,04 %

CH Swiss Confederation; Principality of Liechtenstein 0,09 %

DK Kingdom of Denmark 0,25 %

FI Republic of Finland 0,04 %

FR French Republic[^ntr1-L_202600269EN.009601-E0001]; Principality of Monaco; Principality of Andorra 0,12 %

DE Federal Republic of Germany 0,07 %

HU Hungary 0,02 %

IS Republic of Iceland 0,06 %

IE Ireland 0,22 %

LU Grand Duchy of Luxembourg 0,12 %

NL Kingdom of the Netherlands 0,18 %

NO Kingdom of Norway 0,08 %

PL Republic of Poland 0,03 %

SI Republic of Slovenia 0,04 %

ES Kingdom of Spain 0,01 %

SE Kingdom of Sweden 0,085 %

UK United Kingdom of Great Britain and Northern Ireland 0,17 %

GU Guadeloupe 6,00 %

MA Martinique 5,00 %

SM Collectivity of Saint Martin 10,00 %

RE Réunion 2,50 %

Abbreviation of region r	Region r	Windstorm risk factor Q(windstorm,r)
AT	Republic of Austria	0,06 %
BE	Kingdom of Belgium	0,16 %
CZ	Czech Republic	0,04 %
CH	Swiss Confederation; Principality of Liechtenstein	0,09 %
DK	Kingdom of Denmark	0,25 %
FI	Republic of Finland	0,04 %
FR	French Republic[^ntr1-L_202600269EN.009601-E0001]; Principality of Monaco; Principality of Andorra	0,12 %
DE	Federal Republic of Germany	0,07 %
HU	Hungary	0,02 %
IS	Republic of Iceland	0,06 %
IE	Ireland	0,22 %
LU	Grand Duchy of Luxembourg	0,12 %
NL	Kingdom of the Netherlands	0,18 %
NO	Kingdom of Norway	0,08 %
PL	Republic of Poland	0,03 %
SI	Republic of Slovenia	0,04 %
ES	Kingdom of Spain	0,01 %
SE	Kingdom of Sweden	0,085 %
UK	United Kingdom of Great Britain and Northern Ireland	0,17 %
GU	Guadeloupe	6,00 %
MA	Martinique	5,00 %
SM	Collectivity of Saint Martin	10,00 %
RE	Réunion	2,50 %

[^ntr1-L_202600269EN.009601-E0001]: Except Guadeloupe, Martinique, the Collectivity of Saint Martin and Réunion.’

ANNEX III

In Annex VI to Delegated Regulation (EU) 2015/35, the table corresponding to regions and earthquake risk factors is replaced by the following:

‘ Regions and earthquake risk factors

Abbreviation of region r Region r Earthquake risk factor Q(earthquake,r)

AT Republic of Austria 0,10 %

BE Kingdom of Belgium 0,02 %

BG Republic of Bulgaria 1,60 %

CR Republic of Croatia 1,60 %

CY Republic of Cyprus 2,12 %

CZ Czech Republic 0,10 %

CH Swiss Confederation; Principality of Liechtenstein 0,25 %

FR French Republic[^ntr1-L_202600269EN.009701-E0001]; Principality of Monaco; Principality of Andorra 0,06 %

DE Federal Republic of Germany 0,10 %

HE Hellenic Republic 1,75 %

HU Hungary 0,20 %

IT Italian Republic; Republic of San Marino; Vatican City State 0,77 %

MT Republic of Malta 1,00 %

PT Portuguese Republic 1,20 %

RO Romania 1,00 %

SK Slovak Republic 0,16 %

SI Republic of Slovenia 1,00 %

GU Guadeloupe 4,09 %

MA Martinique 4,71 %

SM Collectivity of Saint Martin 5,00 %

Abbreviation of region r	Region r	Earthquake risk factor Q(earthquake,r)
AT	Republic of Austria	0,10 %
BE	Kingdom of Belgium	0,02 %
BG	Republic of Bulgaria	1,60 %
CR	Republic of Croatia	1,60 %
CY	Republic of Cyprus	2,12 %
CZ	Czech Republic	0,10 %
CH	Swiss Confederation; Principality of Liechtenstein	0,25 %
FR	French Republic[^ntr1-L_202600269EN.009701-E0001]; Principality of Monaco; Principality of Andorra	0,06 %
DE	Federal Republic of Germany	0,10 %
HE	Hellenic Republic	1,75 %
HU	Hungary	0,20 %
IT	Italian Republic; Republic of San Marino; Vatican City State	0,77 %
MT	Republic of Malta	1,00 %
PT	Portuguese Republic	1,20 %
RO	Romania	1,00 %
SK	Slovak Republic	0,16 %
SI	Republic of Slovenia	1,00 %
GU	Guadeloupe	4,09 %
MA	Martinique	4,71 %
SM	Collectivity of Saint Martin	5,00 %

[^ntr1-L_202600269EN.009701-E0001]: Except Guadeloupe, Martinique, the Collectivity of Saint Martin and Réunion.’

ANNEX IV

‘ANNEX VII

PARAMETERS FOR THE FLOOD RISK SUB-MODULE

Regions and flood risk factors

Abbreviation of region r	Region r	Flood risk factor Q(flood,r)
AT	Republic of Austria	0,13 %
BE	Kingdom of Belgium	0,12 %
BG	Republic of Bulgaria	0,15 %
CZ	Czech Republic	0,25 %
CH	Swiss Confederation; Principality of Liechtenstein	0,30 %
DE	Federal Republic of Germany	0,20 %
FR	French Republic¹⁴; Principality of Monaco; Principality of Andorra	0,12 %
HU	Hungary	0,25 %
IT	Italian Republic; Republic of San Marino; Vatican City State	0,15 %
PL	Republic of Poland	0,16 %
RO	Romania	0,13 %
SI	Republic of Slovenia	0,30 %
SK	Slovak Republic	0,35 %
UK	United Kingdom of Great Britain and Northern Ireland	0,12 %
LU	Grand Duchy of Luxembourg	0,13 %
IE	Ireland	0,17 %
NL	Kingdom of the Netherlands	0,035 %
NO	Kingdom of Norway	0,05 %
SE	Kingdom of Sweden	0,045 %
FI	Republic of Finland	0,04 %
DK	Kingdom of Denmark	0,04 %

Flood risk correlation coefficients for regions


	AT	BE	BG	CH	CZ	DE	FR	HU	IT	PL	RO	SI	SK	UK	LU	IE	NL	NO	SE	FI	DK
AT	1,00	0,00	0,25	0,25	0,50	0,75	0,00	0,50	0,00	0,25	0,25	0,00	0,50	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
BE	0,00	1,00	0,00	0,00	0,00	0,25	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,25	0,00	0,25	0,00	0,00	0,00	0,00
BG	0,25	0,00	1,00	0,00	0,00	0,00	0,00	0,25	0,00	0,00	0,50	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
CH	0,25	0,00	0,00	1,00	0,00	0,25	0,25	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
CZ	0,50	0,00	0,00	0,00	1,00	0,50	0,00	0,25	0,00	0,75	0,25	0,00	0,75	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
DE	0,75	0,25	0,00	0,25	0,50	1,00	0,25	0,25	0,00	0,75	0,25	0,00	0,25	0,00	0,25	0,00	0,25	0,00	0,00	0,00	0,00
FR	0,00	0,25	0,00	0,25	0,00	0,25	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00
HU	0,50	0,00	0,25	0,00	0,25	0,25	0,00	1,00	0,00	0,25	0,50	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
IT	0,00	0,00	0,00	0,25	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
PL	0,25	0,00	0,00	0,00	0,75	0,75	0,00	0,25	0,00	1,00	0,25	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
RO	0,25	0,00	0,50	0,00	0,25	0,25	0,00	0,50	0,00	0,25	1,00	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
SI	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,25	0,00	0,00	1,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
SK	0,50	0,00	0,00	0,00	0,75	0,25	0,00	0,25	0,00	0,25	0,25	0,25	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
UK	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,25	0,00	0,00	0,00	0,00	0,00
LU	0,00	0,25	0,00	0,00	0,00	0,25	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00	0,00	0,00	0,00
IE	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,25	0,00	1,00	0,00	0,00	0,00	0,00	0,00
NL	0,00	0,25	0,00	0,00	0,00	0,25	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00	0,00
NO	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00
SE	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00
FI	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00
DK	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00

’

Except Guadeloupe, Martinique, the Collectivity of Saint Martin and Réunion.

ANNEX V

‘ANNEX VIII

PARAMETERS FOR THE HAIL RISK SUB-MODULE

Regions and hail risk factors

Abbreviation of region r	Region r	Hail risk factor Q(hail,r)
AT	Republic of Austria	0,08 %
BE	Kingdom of Belgium	0,035 %
CZ	Czech Republic	0,045 %
CH	Swiss Confederation; Principality of Liechtenstein	0,06 %
FR	French Republic¹⁵; Principality of Monaco; Principality of Andorra	0,02 %
DE	Federal Republic of Germany	0,03 %
IT	Italian Republic; Republic of San Marino; Vatican City State	0,05 %
LU	Grand Duchy of Luxembourg	0,10 %
NL	Kingdom of the Netherlands	0,03 %
ES	Kingdom of Spain	0,01 %
SI	Republic of Slovenia	0,08 %
PL	Republic of Poland	0,02 %

Hail risk correlation coefficients for regions


	AT	BE	CZ	FR	DE	IT	LU	NL	CH	SI	ES	PL
AT	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
BE	0,00	1,00	0,00	0,00	0,00	0,00	0,25	0,25	0,00	0,00	0,00	0,00
CZ	0,00	0,00	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
FR	0,00	0,00	0,00	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
DE	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00
IT	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00	0,00	0,00	0,00
LU	0,00	0,25	0,00	0,00	0,00	0,00	1,00	0,25	0,00	0,00	0,00	0,00
NL	0,00	0,25	0,00	0,00	0,00	0,00	0,25	1,00	0,00	0,00	0,00	0,00
CH	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00	0,00
SI	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00	0,00
ES	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00	0,00
PL	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	0,00	1,00

’

Except Guadeloupe, Martinique, the Collectivity of Saint Martin and Réunion.

ANNEX VI

‘ANNEX VIIIA

PARAMETERS FOR THE SUBSIDENCE RISK SUB-MODULE

Regions and subsidence risk factors

Abbreviation of region r	Region r	Subsidence risk factor Q(subsidence,r)
FR	French Republic¹⁶; Principality of Monaco; Principality of Andorra	0,06 %
BE	Kingdom of Belgium	0,02 %

Subsidence risk correlation coefficients for regions


	FR	BE
FR	100 %	0 %
BE	0 %	100 %

’

Except Guadeloupe, Martinique, the Collectivity of Saint Martin and Réunion.

ANNEX VII

Annex IX to Delegated Regulation (EU) 2015/35 is amended as follows:

(1) the title is replaced by the following:

‘ THE GEOGRAPHICAL DIVISION OF REGIONS SET OUT IN ANNEXES V-VIIIa INTO RISK ZONES ’;

(2) the first sentence is replaced by the following:

‘The risk zones of regions set out in Annexes V-VIIIa as referred to in Annexes X-XIII shall be equal to the postal code areas or administrative units in the following tables.’;

(3) in the section ‘Mappings of risk zones for regions where the zonation is based on postal codes’, the table is replaced by the following:

‘Region/Risk Zone	AT	BE	CZ	DE	HE	IT	NL	PL	SK	ES	UK	PT	RO
1	10	1	10	1	10	0	10	0	1	1	AB	10	01
2	11	2	11	2	11	1	11	1	2	2	AL	11	02
3	12	3	12	3	12	2	12	2	3	3	B	12	03
4	13	4	13	4	13	3	13	3	4	4	BA	13	04
5	20	5	14	6	14	4	14	4	5	5	BB	14	05
6	21	6	15	7	15	5	15	5	6	6	BD	15	06
7	22	7	16	8	16	6	16	6	7	7	BH	16	07
8	23	8	17	9	17	7	17	7	8	8	BL	17	08
9	24	9	18	10	18	8	18	8	9	9	BN	18	10
10	25		19	12	19	9	19	9	81	10	BR	19	11
11	26		25	13	20	10	20	10	82	11	BS	20	12
12	27		26	14	21	11	21	11	83	12	BT	21	13
13	28		27	15	22	12	22	12	84	13	CA	22	14
14	30		28	16	23	13	23	13	85	14	CB	23	20
15	31		29	17	24	14	24	14	90	15	CF	24	21
16	32		30	18	25	15	25	15	91	16	CH	25	22
17	33		31	19	26	16	26	16	92	17	CM	26	23
18	34		32	20	27	17	27	17	93	18	CO	27	24
19	35		33	21	28	18	28	18	94	19	CR	28	30
20	36		34	22	29	19	29	19	95	20	CT	29	31
21	37		35	23	30	20	30	20	96	21	CV	30	32
22	38		36	24	31	21	31	21	97	22	CW	31	33
23	39		37	25	32	22	32	22	98	23	DA	32	40
24	40		38	26	33	23	33	23	99	24	DD	33	41
25	41		39	27	34	24	34	24		25	DE	34	42
26	42		40	28	35	25	35	25		26	DG	35	43
27	43		41	29	36	26	36	26		27	DH	36	44
28	44		43	30	37	27	37	27		28	DL	37	45
29	45		44	31	38	28	38	28		29	DN	38	50
30	46		46	32	40	29	39	29		30	DT	40	51
31	47		47	33	41	30	40	30		31	DY	41	52
32	48		50	34	42	31	41	31		32	E	42	53
33	49		51	35	43	32	42	32		33	EC	43	54
34	50		53	36	44	33	43	33		34	EH	44	55
35	51		54	37	45	34	44	34		35	EN	45	60
36	52		55	38	46	35	45	35		36	EX	46	61
37	53		56	39	47	36	46	36		37	FK	47	62
38	54		57	40	48	37	47	37		38	FY	48	70
39	55		58	41	49	38	48	38		39	G	49	71
40	56		59	42	50	39	49	39		40	GL	50	72
41	57		60	44	51	40	50	40		41	GU	51	73
42	60		61	45	52	41	51	41		42	GY	52	80
43	61		62	46	53	42	52	42		43	HA	53	81
44	62		63	47	54	43	53	43		44	HD	54	82
45	63		64	48	55	44	54	44		45	HG	60	90
46	64		66	49	56	45	55	45		46	HP	61	91
47	65		67	50	57	46	56	46		47	HR	62	92 ’
48	66		68	51	58	47	57	47		48	HS	63
49	67		69	52	59	48	58	48		49	HU	64
50	68		70	53	60	50	59	49		50	HX	70
51	69		71	54	61	51	60	50			IG	71
52	70		72	55	62	52	61	51			IM	72
53	71		73	56	63	53	62	52			IP	73
54	72		74	57	64	54	63	53			IV	74
55	73		75	58	65	55	64	54			JE	75
56	74		76	59	66	56	65	55			KA	76
57	75		77	60	67	57	66	56			KT	77
58	80		78	61	68	58	67	57			KW	78
59	81		79	63	69	59	68	58			KY	79
60	82			64	70	60	69	59			L	80
61	83			65	71	61	70	60			LA	81
62	84			66	72	62	71	61			LD	82
63	85			67	73	63	72	62			LE	83
64	86			68	74	64	73	63			LL	84
65	87			69	80	65	74	64			LN	85
66	88			70	81	66	75	65			LS	86
67	89			71	82	67	76	66			LU	87
68	90			72	83	70	77	67			M	88
69	91			73	84	71	78	68			ME	89
70	92			74	85	72	79	69			MK	90
71	93			75		73	80	70			ML	91
72	94			76		74	81	71			N	92
73	95			77		75	82	72			NE	93
74	96			78		80	83	73			NG	94
75	97			79		81	84	74			NN	95
76	98			80		82	85	75			NP	96
77	99			81		83	86	76			NR	97
78				82		84	87	77			NW	98
79				83		85	88	78			OL	99
80				84		86	89	80			OX
81				85		87	90	81			PA
82				86		88	91	82			PE
83				87		89	92	83			PH
84				88		90	93	84			PL
85				89		91	94	85			PO
86				90		92	95	86			PR
87				91		93	96	87			RG
88				92		94	97	88			RH
89				93		95	98	89			RM
90				94		96	99	90			S
91				95		97		91			SA
92				96		98		92			SE
93				97				93			SG
94				98				94			SK
95				99				95			SL
96								96			SM
97								97			SN
98								98			SO
99								99			SP
100											SR
101											SS
102											ST
103											SW
104											SY
105											TA
106											TD
107											TF
108											TN
109											TQ
110											TR
111											TS
112											TW
113											UB
114											W
115											WA
116											WC
117											WD
118											WF
119											WN
120											WR
121											WS
122											WV
123											YO
124											ZE

(4) in the section ‘Mapping of risk zones for regions where the zonation is based on administrative units – part 1’, the table is replaced by the following:

‘Region/Risk Zone	BG	CR	HU
1	Sofiya-Grad (incl. City of Sofiya)	Zagrebacka	City of Budapest
2	Sofiya	Krapinsko-zagorska	Gyor-Sopron
3	Pernik	Sisacko-moslavacka	City of Gyor
4	Kyustendil	Karlovacka	Vas
5	Blagoevgrad	Varazdinska	Zala
6	Pazardzhik	Koprivnicko-krizevac	Veszprem
7	Smolyan	Bjelovarsko-bilogors	Somogy
8	Plovdiv	Primorsko-goranska	Komarom
9	Kurdzahli	Licko-senjska	Fejer
10	Khaskovo	Viroviticko-podravsk	Tolna
11	Stara Zagora	Pozesko-slavonska	Baranya
12	Sliven	Brodsko-posavska	City of Pecs
13	Yambol	Zadarska	Nograd
14	Burgas	Osjecko-baranjska	Pest
15	Varna	Sibensko-kninska	Bacs-Kiskun
16	Dobrich	Vukovarsko-srijemska	Borsod-Abauj-Zemplen
17	Shumen	Splitsko-dalmatinska	City of Miskolc
18	Silistra	Istarska	Heves
19	Razgrad	Dubrovacko-neretvanska	Szolnok
20	Turgovishte	Medimurska	Csongrád-Csanád
21	Ruse	Grad Zagreb	Szabolcs-Szatmar
22	Veliko Turnovo		Hadju-Bihar
23	Gabrovo		City of Debrecen
24	Lovech		Bekes’
25	Pleven
26	Vrasta
27	Montana
28	Vidin

(5) the section ‘Mappings of risk zones for the regions with only one risk zone which are part of another region’, is amended as follows:

(a) in the first sentence, ‘Lichtenstein’ is replaced by ‘Liechtenstein’;

(b) in the first column, second row of the table, ‘Lichtenstein’ is replaced by ‘Liechtenstein’;

(6) the title ‘Mapping of risk zones for the Republic of France’ is replaced by ‘Mapping of risk zones for the French Republic’.

ANNEX VIII

‘ANNEX X

RISK WEIGHTS FOR CATASTROPHE RISK ZONES

Risk weights for windstorm risk

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