responsibility finder
Schleswig-Holstein

As an insurance undertaking, report the appointment of a member of the administrative or supervisory board

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6PLus)

Service Description

Has your insurance company appointed a new member to the administrative or supervisory board? Then you must notify the Federal Financial Supervisory Authority (BaFin) immediately.

As an insurance company under federal supervision by the Federal Financial Supervisory Authority (BaFin), you must notify BaFin of certain circumstances. Among other things, if you have appointed a member to the supervisory or administrative board.

The members of the supervisory or administrative board must adequately supervise the management of your company.

  • control,
  • monitor and
  • actively support the development of the company.

To do this, they must always be able to understand the business conducted by the company, assess its risks and, if necessary, implement changes to the management. This requires theoretical and practical knowledge of insurance transactions.

BaFin assesses the qualifications of the person on the basis of the documents submitted. It checks whether the person is reliable and professionally suitable. This requires professional qualifications, knowledge and experience that ensure sound and prudent supervision of the company.

The documents submitted must not be older than 3 months at the time of notification.


Process flow

Use the online notification and publication platform (MVP) to notify BaFin of the appointment of a new member of the Board of Directors or Supervisory Board:

  • Access BaFin's MVP portal.
    • In order to be able to make submissions for the specialist procedure "Notifications of persons VAG", you must first register in the MVP portal and then log in with an application for the MVP specialist procedure "Notifications of persons VAG".
    • Further information on using the MVP portal can be found in the corresponding manual.
    • For more information on how to use the "VAG notifications of persons" specialist procedure, please refer to the associated information sheet.
  • Select the specialist procedure "Notifications of persons VAG", upload all the required documents and send them off.
  • After receiving your submission, BaFin will check your documents.
  • BaFin may request further documents and information if necessary.
  • Once BaFin has reviewed your documents, you will receive electronic feedback via the MVP portal. This may be a query or a clearance notice.
Requirements

Your insurance company

  • is supervised by BaFin and
  • a member of the administrative or supervisory board has been appointed.
Which documents are required?
  • Notification of appointment of a new member of the Board of Directors or Supervisory Board
  • Curriculum vitae of the person
  • Completed form "Personal declaration with information on reliability"
  • Certificate of good conduct:
    • "Certificate of good conduct for submission to an authority",
    • "European Certificate of Good Conduct for submission to an authority" or
    • corresponding documents from abroad
  • Extract from the central trade register
  • Proof of participation in further training, if applicable
  • Overview of the composition of the body
  • Self-assessment of the person at least in the subject areas:
    • Investment
    • underwriting
    • accounting
What are the fees?

There are no costs.

What deadlines do I have to pay attention to?

You must notify BaFin within 2 weeks of the appointment of a member of a management or supervisory board.

Legal basis
Appeal
  • Action before the administrative court
What else should I know?

There are no indications or special features.

Author
Forwarding service: Deep link to the original portal

Federal Financial Supervisory Authority (BaFin)

The text was automatically translated based on the German content.

Technically approved by

Federal Ministry of Finance (BMF)

Professionally released on

18.08.2023

Teaser

Has your insurance company appointed a new member to the administrative or supervisory board? Then you must notify the Federal Financial Supervisory Authority (BaFin) immediately.

Process flow

Use the online notification and publication platform (MVP) to notify BaFin of the appointment of a new member of the Board of Directors or Supervisory Board:

  • Access BaFin's MVP portal.
    • In order to be able to make submissions for the specialist procedure "Notifications of persons VAG", you must first register in the MVP portal and then log in with an application for the MVP specialist procedure "Notifications of persons VAG".
    • Further information on using the MVP portal can be found in the corresponding manual.
    • For more information on how to use the "VAG notifications of persons" specialist procedure, please refer to the associated information sheet.
  • Select the specialist procedure "Notifications of persons VAG", upload all the required documents and send them off.
  • After receiving your submission, BaFin will check your documents.
  • BaFin may request further documents and information if necessary.
  • Once BaFin has reviewed your documents, you will receive electronic feedback via the MVP portal. This may be a query or a clearance notice.

Requirements

Your insurance company

  • is supervised by BaFin and
  • a member of the administrative or supervisory board has been appointed.

Which documents are required?

  • Notification of appointment of a new member of the Board of Directors or Supervisory Board
  • Curriculum vitae of the person
  • Completed form "Personal declaration with information on reliability"
  • Certificate of good conduct:
    • "Certificate of good conduct for submission to an authority",
    • "European Certificate of Good Conduct for submission to an authority" or
    • corresponding documents from abroad
  • Extract from the central trade register
  • Proof of participation in further training, if applicable
  • Overview of the composition of the body
  • Self-assessment of the person at least in the subject areas:
    • Investment
    • underwriting
    • accounting

What are the fees?

There are no costs.

What deadlines do I have to pay attention to?

You must notify BaFin within 2 weeks of the appointment of a member of a management or supervisory board.

Legal basis

Appeal

  • Action before the administrative court

What else should I know?

There are no indications or special features.

Author

Forwarding service: Deep link to the original portal

Federal Financial Supervisory Authority (BaFin)

The text was automatically translated based on the German content.

Technically approved by

Federal Ministry of Finance (BMF)

Professionally released on

18.08.2023

Further information and offers