(1) Insurance enterprises are to draw up annual financial statements and a management report in accordance with the provisions of Subdivision 1 of Division 2 applicable to large share capital companies within the first four months of the financial year for the past financial year and are to submit them to the statutory auditor for the auditor to perform the audit; the time limit defined in section 264 (1) sentence 3 does not apply. Where the insurance enterprise is a share capital company within the meaning of section 325 (4) sentence 1 and not concurrently within the meaning of section 327a, the time limit under sentence 1 will amount to four months.
(1a) An insurance enterprise is to supplement its management report by a non-financial statement if it qualifies as a large insurance enterprise by analogous application of section 267 (3) sentence 1 and (4) to (5), and if it employs more than 500 employees (average for the year). Where the non-financial statement constitutes a separate chapter of the management report, the insurance enterprise may refer to the non-financial information set out elsewhere in the management report. Section 289b (2) to (4) and sections 289c to 289e apply accordingly.
(1b) An insurance enterprise that is to prepare, pursuant to subsection (1) read in conjunction with section 289f (1), a corporate governance statement is to include in it the particulars stipulated by section 289f (2) no. 6 if it qualifies as a large insurance enterprise by analogous application of section 267 (3) sentence 1 and (4) to (5).
(2) Section 264 (3), section 265 (6), section 267, section 268 (4) sentence 1, (5) sentences 1 and 2, section 276, section 277 (1) and (2), section 285 number 8 (a) and section 288 do not apply. Instead of section 247 (1), section 251, section 265 (7), section 266, section 268 (7), section 275, section 284 (3), section 285 number 4 and 8 (b) as well as section 286 (2), the form sheets and other provisions issued by statutory instrument apply. Section 246 (2) does not apply if deviating provisions are in place. Section 285 number 3a applies with the proviso that the information is not to be provided for those financial obligations that have arisen in the context of the insurance business. Section 285 number 31 does not apply; earnings and expenditures arising outside the usual course of business are to be shown in the items “extraordinary earnings” and “extraordinary expenditures.” These items are to be explained in the notes with regard to their amount and their nature insofar as the amounts reported are not immaterial for the assessment of the profit or loss.
(3) The provisions applying to financial reporting by life insurance companies are to be applied accordingly to health insurance enterprises operating the health insurance business exclusively or for the most part in the manner of a life insurance.
(4) Section 152 (2) and (3) as well as sections 170 to 176 of the Stock Corporation Act are to be applied accordingly to insurance enterprises that are not stock corporations, public partly limited partnerships or smaller associations.
(5) In the case of insurance enterprises operating exclusively as a reinsurance or in the case of which the contributions from insurance business assumed for reinsurance purposes exceeds the other contributions, the time limit set out in subsection (1) sentence 1 half-sentence 1 of four months will be extended to ten months if the financial year is identical to the calendar year; the general meeting or the assembly of the most senior representatives that takes receipt of the annual financial statements or that is to adopt them must, in derogation from section 175 (1) sentence 2 of the Stock Corporation Act, take place no later than 14 months following the end of the past financial year. The four-month time limit under subsection (1) sentence 2 will not be extended in the cases governed by sentence 1.