Press Release: Insurance: Commission welcomes common position reached by Council on proposed Directive relating to recasting of life insurance legislation

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Series Details IP/02/800 (3.6.02)
Publication Date 03/06/2002
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The European Commission welcomed on 3 June 2002 the unanimous adoption by the Council of a common position on a proposal for a Directive that will simplify European legislation on life insurance by recasting into a single text all the existing directives in this area. The common position also incorporates the provisions of Directive 2002/12/EC of 14 February 2002 (see IP/02/252) amending Directive 79/267/EEC as regards solvency margin requirements. The proposal will now return to the European Parliament for a second reading.

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