Decree No 352 / 2024 Coll.
Decree amending Decree No. 305 / 2016 Coll., on the submission of statements by insurance and reinsurance companies to the Czech National Bank, as amended by Decree No. 289 / 2021 Coll.
Valid
Order
Effective from 01.01.2025
Text versions:
01.01.2025
02.12.2024
352
DECLARATION
of 21 November 2024
amending Decree No. 305 / 2016 Coll., on the submission of statements by insurance and reinsurance undertakings to the Czech National Bank, as amended by Decree No. 289 / 2021 Coll.
The Czech National Bank provides pursuant to § 41 (3) of Act No. 6 / 1993 Coll., on the Czech National Bank, as amended by Act No. 227 / 2013 Coll., pursuant to § 136 (2) of the Act No. 277 / 2009 Coll., on Insurance, as amended by Act No. 304 / 2016 Coll., for the implementation of § 83 (1) and § 92k (1) of that Act, and pursuant to § 82 (5) of the Act No. 30 / 2024 Coll., on vehicle liability insurance:
Decree No. 305 / 2016 Coll., on the submission of statements by insurance and reinsurance undertakings to the Czech National Bank, as amended by Decree No. 289 / 2021 Coll., is amended as follows:
1. In footnote 1, the words "Commission Implementing Regulation (EU) 2015 / 2450 of 2 December 2015 laying down implementing technical standards with regard to templates for the submission of information to supervisory authorities pursuant to Directive 2009 / 138 / EC of the European Parliament and of the Council, as amended 'are replaced by the words" Commission Implementing Regulation (EU) 2023 / 894 of 4 April 2023 laying down implementing technical standards for the application of Directive 2009 / 138 / EC of the European Parliament and of the Council as regards the templates under which insurance and reinsurance undertakings submit to supervisory authorities the information necessary for supervision and repealing Implementing Regulation (EU) 2015 / 2450'.
2. in Paragraph 3 (2) (e), the word "caused" is replaced by the word "created."
3. In Article 3, the following paragraph 4 is added:
"(4) A local insurance undertaking which carries out activities relating to the operation of life insurance shall compile:
(a) on a quarterly basis and submit, within 30 days of the end of the calendar quarter to which it relates, the AML (CNB) report 04-04 "AML / CFT quarterly report"; and
(b) annually and within 60 days of the end of the calendar year to which it relates, submit the AML (CNB) statement 0501 "Annual AML / CFT statement." ';
4.
Statements of the Czech Insurance Office
Czech Insurers' Office compiles
(a) quarterly and submit the following statements within 35 days of the end of the calendar quarter to which they relate:
1. QES (ČNB) "Quarterly report of ČKP on activities and financial situation"; and
2. POJ (ČNB) 49-04 "Provision of information to ČKP on the fulfilment of the information obligations of insurers,"
(b) half-yearly and submit, within 60 days of the end of the calendar half-year to which it relates, the POJ (CNB) statement 39-02 "ČKP - Insolvency insurance for damage caused by the operation of the vehicle"; and
(c) annually and within 98 days of the end of the calendar year to which it relates, submit the AES (CNB) report "Annual report of ČKP on activities and financial situation." '
5. In Article 6, the following paragraph 5 is added:
"(5) The branch of an insurance undertaking from a third State which carries out activities related to the operation of life insurance shall establish:
(a) on a quarterly basis and submit, within 30 days of the end of the calendar quarter to which it relates, the AML (CNB) report 04-04 "AML / CFT quarterly report"; and
(b) annually and within 60 days of the end of the calendar year to which it relates, submit the AML (CNB) statement 0501 "Annual AML / CFT statement." ';
6. In Article 7, the following paragraph 3 is added:
"(3) The branch of an insurance undertaking from another Member State which carries out activities relating to the operation of life insurance shall establish:
(a) on a quarterly basis and submit, within 30 days of the end of the calendar quarter to which it relates, the AML (CNB) report 04-04 "AML / CFT quarterly report"; and
(b) annually and within 60 days of the end of the calendar year to which it relates, submit the AML (CNB) statement 0501 "Annual AML / CFT statement." ';
7. In Article 8 (2), the words "and 4 'shall be inserted after the words" Paragraph 3 (2)', the words "Paragraph 5 (2) 'shall be replaced by the words" Paragraph 6 (2) and (3)';
8. In the Annex to point 5, in the title, the word "caused 'is replaced by" produced'.
9. In the first sentence of point 5 of the Annex, the word "caused 'is replaced by the word" created' and the words "and selected information on its further activities' are added at the end of the first sentence.
10. In Annex 5, the second sentence is replaced by the following:
"The statement also includes provisions for the performance of the guarantee fund, insurance premiums, the cost of the guarantee fund, administrative management and investment income, the number of claims reported and settled and the selected information on the payment of the contribution of the Czech Insurance Office for the period without liability insurance."
11. In the Annex to point 10, in the title, the word "caused 'is replaced by" produced'.
12. In the first sentence of point 10 of the Annex, "caused 'is replaced by" produced'.
13. footnote 5 reads:
"(5) Commission Implementing Regulation (EU) 2023 / 894."
14. the following points 12 to 16 are added at the end of the Annex:
"12. AML (ČNB) 04-04" Quarterly AML / CFT statement "
The report shall contain selected statistical information on payments in relation to life insurance contracts and information on control activities in the management of AML / CFT risks.
13.AML (CNB) 05-01 "Annual Report AML / CFT"
The report contains information on client structure, means of identification, risk categorisation, products and services, internal procedures, notification of suspicious transactions and related processes.
14. POJ (ČNB) 49-04 "Provision of information to ČKP on the fulfilment of the information obligations of insurers"
The report contains information on the time limit defined in each of the bands in which the insurers provide the CKP with information on the creation and termination of liability insurance and on the notification and termination of the harmful event. The report shall also contain additional statistical information concerning liability insurance and claims.
15. QES (ČNB) "Quarterly report of ČKP on activities and financial situation"
The report contains information about the Czech Insurers' Office, its activities and financial situation. The structure of the statement is based on a single reporting framework for insurance undertakings.
16. AES (ČNB) "Annual report of ČKP on activities and financial situation"
The report contains information about the Czech Insurers' Office, its activities and financial situation. The structure of the report shall be based on a single reporting framework for insurance undertakings. ';
Efficacy
This Decree shall take effect on 1 January 2025.
Governor:
Ing. Michl., Ph.D., v. r.
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Regulation Information
| Citation | Decree No. 352 / 2024 Coll., amending Decree No. 305 / 2016 Coll., on the submission of statements by insurance and reinsurance undertakings to the Czech National Bank, as amended by Decree No. 289 / 2021 Coll. |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 02.12.2024 |
|---|---|
| Effective from | 01.01.2025 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Banking, Money
Finance
The regulation text is for informational purposes only.
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