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Home Insurance & Pensions Solvency II Directive

Chapter IX · Branches established within the community and belonging to insurance or reinsurance undertakings with head offices situated outside the community  ›  Section 1 · Taking-up of business › Article 170

Withdrawal of authorisation for undertakings authorised in more than one Member State

In the case of a withdrawal of authorisation by the authority referred to in Article 167(2) that authority shall notify the supervisory authorities of the other Member States where the undertaking operates and those authorities shall take the appropriate measures.

Where the reason for that withdrawal is the inadequacy of the overall state of solvency as fixed by the Member States which agreed to the request referred to in Article 167, the Member States which gave their approval shall also withdraw their authorisations.

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