Service Finder
Request approval for changes to technical business plans for life insurance contracts concluded before July 29, 1994
Service Description
For life insurance contracts of a life insurance company subject to federal supervision by the Federal Financial Supervisory Authority (BaFin) that were concluded before July 29, 1994, the business plans in force and approved at that time continue to apply (old portfolio).
As soon as you wish to change these technical business plans, you must have the changes checked and approved again by BaFin. Only then may they enter into force in their new version.
The technical business plan contains, among other things, information on
- the principles for calculating premiums and technical provisions and
-
the mathematical formulas used and other calculation bases.
Process flow
You can apply online for approval of an amended business plan for life insurance contracts in an existing portfolio:
- Call up BaFin's notification and publication platform (MVP Portal).
- In order to be able to make submissions for the "Insurance Supervision" specialist procedure, you must first register in the MVP Portal and then log in with an application for the MVP specialist procedure.
- Further information on using the MVP portal can be found in the "Information sheet on the specialist procedure for insurance supervision".
- Select the specialist procedure "Insurance Supervision" - Prefix (GPLV), upload all required documents and submit them.
- After receiving your submission, BaFin will check whether your documents are complete and eligible for approval.
- You will receive notification of your application electronically or by post.
Requirements
Your life insurance company
- is not a pension fund or a death fund,
- is supervised by BaFin and
- would like to apply for approval of an amendment to a technical business plan for life insurance contracts concluded before July 29, 1994.
Which documents are required?
- Request for approval of changes to the technical business plan
-
Amended technical business plan with identification of the changes
What are the fees?
Fee: 2226,00 EURPayment in advance: Nohttps://www.gesetze-im-internet.de/findagebv/anlage.html
What deadlines do I have to pay attention to?
There is no deadline. The amended technical business plans may only enter into force after approval.
Processing duration
Processing Time: 1 - 3 Months
Legal basis
Applications / forms
- Contradiction
-
Compulsory action
What else should I know?
There are no indications or special features.
Further Information
- General information on insurance supervision on the website of the Federal Financial Supervisory Authority (BaFin)
- User manual for the reporting and publication platform (MVP Portal) on the BaFin website
- Information sheet "MVP Portal - Specialist procedure for insurance supervision" on the BaFin website
Author
German Federal Financial Supervisory Authority (BaFin)
Forwarding service: Deep link to the original portal
The text was automatically translated based on the German content.
Technically approved by
Federal Ministry of Finance (BMF)
Professionally released on
18.08.2023
Source: Zuständigkeitsfinder Thüringen (Linie6PLus)
Start your request directly online:
Competent Authority
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
Address
Postal address
53002 Bonn, Stadt
Address
60439 Frankfurt am Main
Remark: Address Frankfurt am Main
Link to the directions:
Anfahrt
Postal address
60306 Frankfurt am Main
Telephone
+49 228 4108-0Fax
+49 228 4108-1550Remark: especially for appointment notices regarding supervisory and administrative board members
