Insurance activity includes concluding and implementing contracts on non-life and life insurance or reinsurance, with the exception of mandatory social insurance.
In relation to the main hazards covered by insurance, insurance is classified into insurance types. Insurance which combines insurance of several types are classified into insurance sub-groups and insurance groups.
Reinsurance is excess insurance above the level of one insurance company's balance of risks with another insurance company.
Insurance activity may be pursued by insurance companies with a suitable status that have acquired a licence to carry out insurance transactions and for members of the Management Board, and have appointed a certified actuary.
The insurance business of concluding reinsurance may only be carried out by reinsurance companies. A reinsurance company carries out insurance business of concluding reinsurance in all insurance groups.
The activities of insurance brokerage and insurance agencies are related to insurance activity.
Conditions and evidence
- Licence to carry out insurance transactions Licence for members of the Management Board of insurance public limited liability companies Appointment of a certified actuary Permit for the acquisition of a qualifying holding Status and registration