Home Europe EEA Joint Committee Decision of the EEA Joint Committee No 240/2024 of 25 Octobe...
Date: 20-Feb-2025 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 240/2024 of 25 October 2024 amending Annex IX (Financial services) to the EEA Agreement [2025/250]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The EEA Joint Committee Decision No 240/2024 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Implementing Regulation (EU) 2024/2147.
  • Commission Implementing Regulation (EU) 2024/2147 lays down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2024 until 29 September 2024, in accordance with Directive 2009/138/EC on Insurance and Reinsurance.

Key Changes

  • Annex IX to the EEA Agreement is amended to include point 1zze, referencing Commission Implementing Regulation (EU) 2024/2147.
  • Commission Implementing Regulation (EU) 2024/2147 applies to reporting with reference dates from 30 June 2024 to 29 September 2024.
  • The Decision enters into force on 26 October 2024, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Insurance and Reinsurance Companies

  • Companies should ensure that they are using the correct technical information for the specified reporting period to avoid non-compliance.

EEA Member States

  • Member states should transpose the requirements of Regulation (EU) 2024/2147 into their national legislation.

EEA Joint Committee

  • The Committee has adopted Decision No 240/2024 to update Annex IX of the EEA Agreement.

Key Entities Referenced

EEA Joint Committee: The body responsible for managing the EEA Agreement and incorporating EU legislation into it. Commission Implementing Regulation (EU) 2024/2147: Regulation laying down technical information for the calculation of technical provisions and basic own funds for insurance and reinsurance companies. 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 (Solvency II). EEA Agreement: Agreement on the European Economic Area.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2025/250 20.2.2025 DECISION OF THE EEA JOINT COMMITTEE No 240/2024 of 25 October 2024 amending Annex IX (Financial services) to the EEA Agreement [2025/250] 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) 2024/2147 of 6 August 2024 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2024 until 29 September 2024 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(1)is to be incorporated into the EEA Agreement. (2) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 The following point is inserted after point 1zzd (Commission Implementing Regulation (EU) 2024/1289) of Annex IX to the EEA Agreement: ‘1zze. 32024 R 2147: Commission Implementing Regulation (EU) 2024/2147 of 6 August 2024laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2024until 29 September 2024in 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, 2024/2147, 7.8.2024).’ Article 2 The text of Implementing Regulation (EU) 2024/2147 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 26 October 2024, provided that all the notifications under Article 103(1) of the EEA Agreement have been made(*). (1) OJ L, 2024/2147, 7.8.2024, ELI: http://data.europa.eu/eli/reg_impl/2024/2147/oj. (*) No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2025/250/oj 1/2EN OJ L, 20.2.2025 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, 25 October 2024. For the EEA Joint Committee The President Anders H. EIDE 2/2 ELI: http://data.europa.eu/eli/dec/2025/250/oj

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