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The information here reflects the current status of the procedure
Identification
Reference COD/2000/0162  
Title Life insurance (recast direct. 79/267/EEC, 90/619/EEC, 92/96/EEC)
Legal Basis EC 047-p2 ; EC 055  
Dossier of the committee JURI/5/14576
Subject(s) 2.50.05 insurance and occupational pension funds
Stage reached Procedure ended
Stages
Stages Documents: references Dates
Source reference Equivalent references Votes and amendments Joint resolution of document of publication in Official Journal
Commission/Council: initial legislative document Summaries EC COM(2000)0398 C5-0351/2000         28/06/2000 C 365 19.12.2000, p. 0001 E
Economic and Social Committee: opinion, report   ESC CES0041/2001           25/01/2001 C 123 25.04.2001, p. 0024
EP: draft report by the committee responsible   EP PE298.391           30/01/2001  
EP: decision of the committee responsible, 1st reading/single reading Summaries               27/02/2001  
EP: tabled legislative report, 1st reading or single reading   EP A5-0072/2001           27/02/2001  
EP: position, 1st reading or single reading Summaries EP T5-0143/2001           15/03/2001 C 343 05.12.2001, p. 0202-0257
Council: common position Summaries CSL 07328/1/2002 C5-0230/2002         27/05/2002 C 170 16.07.2002, p. 0045 E
Commission: communication on the common position Summaries EC SEC(2002)0627           29/05/2002  
EP: draft report by the committee responsible   EP PE319.685           03/07/2002  
EP: decision of the committee responsible, 2nd reading Summaries               10/09/2002  
EP: tabled legislative report, 2nd reading   EP A5-0287/2002           10/09/2002  
EP: position, 2nd reading Summaries EP T5-0436/2002           25/09/2002 C 273 14.11.2003, p. 0129-0168 E
Final legislative act Summaries EU 32002L0083           05/11/2002 L 345 19.12.2002, p. 0001-0051
Agents
European Parliament
Committee
Rapporteur / Co-rapporteurs   Previous
Political group Appointed
Legal Affairs and Internal Market (responsible)
Inglewood The Lord
PPE-DE
13/09/2000
European Commission and Council of the Union
European Commission DG Internal Market and Services Transmission date: 28/06/2000
Council of the Union
  Previous Councils
  Agriculture meeting: 2428 of: 27/05/2002
Links to other sources
European Commission PreLex
 
05/11/2002 - Final legislative act
PURPOSE : to recast the legislation applicable to life assurance.
COMMUNITY MEASURE : Directive 2002/83/EC of the European Parliament and of the Council concerning life assurance.
CONTENT : this Directive aims to recast into a single text:
- The first Council Directive 79/267/EEC on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct life assurance;
- the second Council Directive 90/619/EEC on the coordination of laws, regulations and administrative provisions relating to direct life assurance, laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 79/267/EEC;
- and Council Directive 92/96/EEC on the coordination of laws, regulations and administrative provisions relating to direct life assurance and amending Directives 79/267/EEC;
- and 90/619/EEC (third life assurance Directive).
This Directive represents an important step in the merging of national markets into an integrated market and that stage must be supplemented by other Community instruments with a view to enabling all policy holders to have recourse to any assurer with a head office in the Community who carries on business there, under the right of establishment or the freedom to provide services, while guaranteeing them adequate protection.
The approach adopted consists in bringing about such harmonisation as is essential, necessary and sufficient to achieve the mutual recognition of authorisations and prudential control systems, thereby making it possible to grant a single authorisation valid throughout the Community and apply the principle of supervision by the home Member State.
The Directive consists of the following elements:
- definition and scope;
- the taking up of the business of life assurance;
- conditions governing the business of life assurance (principles and methods of financial supervision; rules relating to technical provisions and their representation, rules relating to the solvency margin and to the guarantee fund, contract law and conditions of assurance, assurance undertakings in difficulty or in an irregular situation);
- provisions relating to the right of establishment and freedom to provide services;
- rules applicable to agencies or branches established within the Community and belonging to undertakings whose head offices are outside the Community;
- rules applicable to subsidiaries or parent undertakings governed by the laws of a third country and to the acquisitions of holdings by such parent undertakings;
- transitional and other provisions.
ENTRY INTO FORCE : 19/12/2002.
IMPLEMENTATION OF NEW MEASURES : 17/11/2002, 20/09/2003, 01/01/2004 and 19/06/2004 according to the measures.
 
List of summaries
Summaries 05/11/2002 Final legislative act
Summaries 25/09/2002 EP: position, 2nd reading
Summaries 10/09/2002 EP: decision of the committee responsible, 2nd reading
Summaries 29/05/2002 Commission: communication on the common position
Summaries 27/05/2002 Council: common position
Summaries 15/03/2001 EP: position, 1st reading or single reading
Summaries 27/02/2001 EP: decision of the committee responsible, 1st reading/single reading
Summaries 28/06/2000 Commission/Council: initial legislative document
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