Executive Summary:
This EEA Joint Committee Decision No. 124/2019 amends Annex IX of the EEA Agreement to incorporate Commission Implementing Regulations (EU) 2018/1699 and 2019/228. These regulations provide technical information for calculating technical provisions and basic own funds for insurance and reinsurance companies. The decision entered into force on June 1, 2019, and requires publication in the Official Journal of the European Union.
Key Points / Main Content:
* **Amendment of Annex IX:**
* Commission Implementing Regulation (EU) 2018/1699 is inserted into Annex IX as point 1zf.
* Commission Implementing Regulation (EU) 2019/228 is inserted into Annex IX as point 1zg.
* **Authentic Texts:**
* The Icelandic and Norwegian language texts of Regulations (EU) 2018/1699 and (EU) 2019/228 are authentic.
* **Entry into Force:**
* The Decision entered into force on June 1, 2019, following notification under Article 103(1) of the EEA Agreement.
* **Publication:**
* The Decision will be published in the EEA Section and the EEA Supplement to the Official Journal of the European Union.
Impact Analysis:
* **Insurance and Reinsurance Companies:**
* Impact: Must use the technical information outlined in Implementing Regulations (EU) 2018/1699 and (EU) 2019/228 for calculating technical provisions and basic own funds.
* Action Required: Implement the requirements of Regulations (EU) 2018/1699 and (EU) 2019/228 in their reporting for relevant reference dates.
* **EEA Member States:**
* Impact: Ensure national regulations align with the updated Annex IX of the EEA Agreement, including Regulations (EU) 2018/1699 and (EU) 2019/228.
* Action Required: Incorporate the changes into national law and ensure compliance by relevant entities.
Key Entities Referenced
EEA Joint Committee: The governing body responsible for decisions related to the Agreement on the European Economic Area (EEA).
EEA Agreement: Agreement on the European Economic Area
Annex IX Financial Services to the EEA Agreement: The specific annex of the EEA Agreement pertaining to financial services, which is being amended by the decision.
Commission Implementing Regulation EU 2018/1699: A regulation laying down technical information for the calculation of technical provisions and basic own funds for reporting.
Commission Implementing Regulation EU 2019/228: A regulation laying down technical information for the calculation of technical provisions and basic own funds for reporting.
Directive 2009/138/EC: Directive of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance.
European Parliament: One of the legislative branch of the European Union
Brussels: Location where the decision was made.
27.10.2022 EN Official Journal of the European Union L 279/29
DECISION OF THE EEA JOINT COMMITTEE No 124/2019
of 8 May 2019
amending Annex IX (Financial Services) to the EEA Agreement [2022/2022]
THE EEA JOINT COMMITTEE,
Having regard to the Agreement on the European Economic Area (‘the EEA Agreement’), and in particular Article 98
thereof,
Whereas:
(1) Commission Implementing Regulation (EU) 2018/1699 of 9 November 2018laying down technical information for
the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September
2018until 30 December 2018in accordance with 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(1)is to be incorporated into the
EEA Agreement.
(2) Commission Implementing Regulation (EU) 2019/228 of 7 February 2019 laying down technical information for
the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December
2018 until 30 March 2019 in accordance with 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(2)is to be incorporated into the
EEA Agreement.
(3) Annex IX to the EEA Agreement should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
The following points are inserted after point 1ze (Commission Implementing Regulation (EU) 2017/2015) of Annex IX to
the EEA Agreement:
‘1zf. 32018 R 1699: Commission Implementing Regulation (EU) 2018/1699 of 9 November 2018laying down technical
information for the calculation of technical provisions and basic own funds for reporting with reference dates from
30 September 2018 until 30 December 2018 in accordance with 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 (OJ L 285,
13.11.2018, p. 1).
1zg. 32019 R 0228: Commission Implementing Regulation (EU) 2019/228 of 7 February 2019 laying down technical
information for the calculation of technical provisions and basic own funds for reporting with reference dates from
31 December 2018 until 30 March 2019 in accordance with 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 (OJ L 37, 8.2.2019,
p. 22).’
Article 2
The texts of Implementing Regulations (EU) 2018/1699 and (EU) 2019/228 in the Icelandic and Norwegian languages, to
be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.
Article 3
This Decision shall enter into force on 1 June 2019, provided that all the notifications under Article 103(1) of the EEA
Agreement have been made*.
(1) OJ L 285, 13.11.2018, p. 1.
(2) OJ L 37, 8.2.2019, p. 22.
(*) No constitutional requirements indicated.L 279/30 EN Official Journal of the European Union 27.10.2022
Article 4
This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European
Union.
Done at Brussels, 8 May 2019.
For the EEA Joint Committee
The President
Claude MAERTEN