(1) Every direct insurance undertaking must notify the supervisory authority, for business conducted under the freedom of establishment and, separately, for business conducted under the freedom to provide services, of 1. the amounts of premiums written, 2. the amount of claims paid, and 3. the amount of commissions, without deduction for reinsurance, broken down by member state. In respect of the class named in Annex 1, point 10 – excluding carrier's liability – the undertaking must also notify the supervisory authority of the frequency and average cost of claims paid.
(2) The supervisory authority, upon request, notifies the supervisory authorities of each member state concerned of the particulars named in subsection (1), in summarised form, within a reasonable period.
Subdivision 2
Undertakings with their registered office in a member state of the European Union or another contracting state of the Agreement on the European Economic Area