Host supervisory authority definition

Host supervisory authority means a supervisory authority from the Host Party;
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Host supervisory authority means the supervisory authority of the Member State where the branch is established and its operations occur.
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Host supervisory authority means a supervisory authority from the territory “in which the (re)insurance group or undertaking has operations, but is not the territory in which the worldwide parent undertaking of the (re)insurance group or undertaking has its head office or is domiciled.” Id. art. 2(h), (i).‌‌ 55 Agreement art. 4(c).‌ 56 Id. 57 Id. art. 4(d). 58 Id. art. 4(e).‌ 59 Id. art. 4(f), (g). 60 Id. art. 4 (g).‌ 61 Id. art. 4(h)(i). 62 Id. art. 4(h)(ii). 63 Id. art. 4(i).‌ 64 Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, available at xxxx://xxx-xxx.xxxxxx.xx/legal- content/EN/TXT/?uri=CELEX:32002L0087.‌‌ 65 Agreement art. 10(2)(a). 66 Id.‌ 67 Id. art. 10(e). 68 NAIC, Insurance Holding Company System Regulatory Act (#440), available at xxxx://xxx.xxxx.xxx/store/free/MDL-440.pdf. 69 See, e.g., NAIC Group Capital Calculation (E) Working Group, Meeting Summary Report (Dec. 10, 2016), available at xxxx://xxx.xxxx.xxx/meetings1612/cmte_e_grp_capital_wg_2016_fall_nm_summary.pdf?1485205267599 70 Agreement art. 5.‌‌
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Examples of Host supervisory authority in a sentence

  • If the employee’s performance or conduct does not improve, the employee will receive a final warning.

  • Without prejudice to subparagraphs (c) to (h) and participation in supervisory colleges, a Home Party insurance or reinsurance group is subject only to worldwide prudential insurance group supervision including worldwide group governance, solvency and capital, and reporting, as applicable, by its Home supervisory authorities, and is not subject to group supervision at the level of the worldwide parent undertaking of the insurance or reinsurance group by any Host supervisory authority.

  • The Host supervisory authority bases such information request on prudential supervisory criteria and, whenever possible, avoids burdensome and duplicative requests.

  • Notwithstanding subparagraph (a), if the summary of the worldwide group ORSA, or, where applicable, equivalent documentation as set out in subparagraph (c), exposes any serious threat to policyholder protection or financial stability in the territory of the Host supervisory authority, that Host supervisory authority may impose preventive, corrective, or otherwise responsive measures with respect to insurers or reinsurers in the Host Party.

  • Prior to imposing such measures, the Host supervisory authority consults the insurance or reinsurance group’s relevant Home supervisory authority.

  • Indeed expectations regarding contract boundaries might differ from the Home supervisory authority and the Host supervisory authority, which could lead to different own funds’ assessment for the same insurance obligations.

  • Host supervisory authority should assess the adequacy of the solvency margin of the undertaking as a whole on the basis of the prudential requirements of the home supervisory authority, including seeking additional information where needed.

  • The wording of Article 3(4)e of the Agreement provides for confirmation of consent to be submitted to the Host supervisory authority only.

  • Each Party shall ensure that, in its capacity as a Host Party, with respect to its supervisory authorities, where the Host supervisory authority determines that a Home Party Assuming Reinsurer no longer satisfies one of the conditions listed in paragraph 4, the Host supervisory authority only imposes any of the requirements addressed in paragraphs 1 to 3 if that Host supervisory authority follows the procedure set out in subparagraphs (a) to (c).

  • Prior to imposing such measures, the Host supervisory authority consults the insurance or reinsurance group's relevant Home supervisory authority.


More Definitions of Host supervisory authority

Host supervisory authority means the supervisory authority of the Member State where the third-country insurance undertaking has established a branch and where the branch operations occur.
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Related to Host supervisory authority

  • Supervisory Authority means an independent public authority which is established by an EU Member State pursuant to the GDPR.

  • public authority means any authority or body or institution of self- government established or constituted—

  • Regulatory Authority means any applicable supra-national, federal, national, regional, state, provincial, or local governmental or regulatory agencies, departments, bureaus, commissions, councils, or other government entities (e.g., the FDA and EMA) regulating or otherwise exercising authority with respect to activities contemplated in this Agreement, including the Exploitation of Products.

  • Airport Authority means any city or any public or private board or other body or organization chartered or otherwise established for the purpose of administering, operating or managing airports or related facilities, which in each case is an owner, administrator, operator or manager of one or more airports or related facilities.

  • statutory authority means Central or State Government, quasi-Government, administrative, judicial, public or statutory body, department, instrumentality, agency, authority, board entrusted with and carrying any statutory functions, as required from time to time in connection with performance by the Preferred Bidder of its obligations hereunder;

  • Port Authority means the Port Hedland Port Authority, being the body corporate established for the Port under the Port Authorities Act;

  • Public Procurement Regulatory Authority (PPRA) means the Government Agency responsible for oversight of public procurement.

  • Board of Supervisors means the Board of Supervisors of the County.

  • Clinical supervisor means an individual who provides clinical supervision.

  • foreign regulatory authority means a securities commission, exchange or other securities market regulatory authority in a designated foreign jurisdiction;