(1) With the approval of the supervisory authority, particulars in the solvency and financial condition report may be omitted; this does not apply to particulars under section 40(2), third sentence, point 5, (4), second sentence, and (5). In that case, the solvency and financial condition report must set out why the particulars have not been included.
(2) The supervisory authority grants approval under subsection (1) where publication would
1. give competitors of the undertaking a significant undue advantage, or
2. breach an obligation of the undertaking to maintain secrecy or confidentiality towards policyholders or arising from a relationship with other counterparties.
Part 2 · Provisions for direct insurance and reinsurance › Division 4 · General reporting duties › Section 41
Non-publication of information
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