Monitoring of risk concentration

(1) All material risk concentrations at group level must be reported to the group supervisory authority at least once a year.
(2) Where the ultimate participating undertaking is an insurance undertaking, it reports the information to the group supervisory authority. Where the ultimate participating undertaking is an insurance holding company or a mixed financial holding company, it reports the information, unless the supervisory authority, after consulting the other affected supervisory authorities and the group, has designated an insurance undertaking as the undertaking obliged to report.
(3) After consulting the other affected supervisory authorities and the group, the group supervisory authority determines 1. the types of risk about which insurance undertakings of a particular group must, in every case, report, and 2. appropriate thresholds for reporting duties on material risk concentrations. In determining the risks, the individual structure of the group and the structure of its risk management must be taken into account. The thresholds are based on the Solvency Capital Requirements, the technical provisions, or both measures.
(4) In supervising risk concentrations, the group supervisory authority monitors the level and probability of occurrence of the risks, in particular the possible risk of contagion within the group and the risk of a conflict of interest.