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On 27 June 2019 the Report from the Commission to the European Parliament and the Council on the application of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking and pursuit of the business of Insurance and Reinsurance (Solvency II) with regard to group supervision and capital management within a group of insurance or reinsurance undertakings was published. This report assesses the benefit of enhancing group supervision and capital management within a group of insurance or reinsurance undertakings, as required under Article 242(2) of the Solvency II Directive.read more ›
Amendment to the Act on Foreigners came into force on April 27, 2019. The primary purpose of this amendment is the introduction of new solutions regarding the entry and stay of foreigners in Poland. More specifically, the Act aims to implement into Polish law the Directive (EU) 2016/801 on the conditions of entry and residence of third-country nationals for the purposes of research, studies, training, voluntary service, pupil exchange schemes or educational projects and au pairing. It also provides for solutions aimed at eliminating the so-called “stay tourism”.read more ›
The Polish Financial Supervision Authority (KNF) will be entitled to punish foreign insurance companies or foreign reinsurance companies that carry out activities in the territory of the Poland through branches or under the freedom to provide services.read more ›
The Polish government plans to dismantle private pension funds (OFE), the Prime Minister announced on 15 April in Warsaw. Assets accumulated in the funds, totalling PLN 162.3 billion (EUR 37.95 bn), will be transferred to individual pension accounts (IKE) or the state-owned social insurance fund.read more ›