Transactions requiring authorisation

Besides the approved business plan, there are various transaction types which require authorisation. These include mergers, demergers and transformations of insurance companies and transfers of insurance portfolios.

This SFMA page gives applicants and supervised institutions a practical view of the transactions requiring authorisation topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.

Mergers, demergers and transformations

Material changes should be assessed before implementation. Changes in ownership, management, organisation, business activity, documents, outsourcing, risk models or the decision to stop a licensed activity can require prior approval or notification. Applicants and licence holders should keep the authorisation basis aligned with their actual operating model.

Transferring insurance portfolios

Insurance-specific reviews consider the classes of insurance, policyholder protection, business plan, solvency, technical provisions, reinsurance, distribution arrangements and the ability to administer claims and contracts reliably.

Holdings

This section explains how holdings affects the transactions requiring authorisation authorisation or registration topic. The relevant facts should be documented in a way that allows SFMA to understand the legal basis, operating responsibilities and supervisory implications.

Preparing a complete file

Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.