Minimum requirements for risk management (VA)
The minimum requirements for risk management ( MaRisk (VA) ) were the binding specification of the Federal Financial Supervisory Authority (BaFin) for the design of risk management in German insurance companies from 2009 to 2015 .
| Basic data | |
|---|---|
| Title: | Minimum regulatory requirements for risk management (MaRisk VA) |
| Abbreviation: | MaRisk (VA) |
| Type: | Administrative instruction |
| Scope: | Federal Republic of Germany |
| Legal matter: | Administrative law |
| Issued on: | January 22, 2009 |
| Entry into force on: | |
| Expiry: | January 1, 2016 |
| Please note the note on the applicable legal version. | |
After the consultation process, in which BaFin had obtained statements, the final version of MaRisk was published on January 22, 2009 as part of circular 3/2009. MaRisk (VA) specified § 64a and § 104s of the German Insurance Supervision Act in the version at that time.
MaRisk (VA) was repealed on January 1, 2016 and replaced by the implementation of the framework directive for the new European Solvency II supervisory regime in national legislation. The new requirements are regulated in Sections 23–32 of the Insurance Supervision Act.
Others
While the MaRisk (VA) intended for the insurance industry have now been repealed, the minimum requirements for risk management (BA) , or MaRisk (BA) for the banking sector, are still valid today.
Web links
- Circular 3/2009 from BaFin on MaRisk (VA) for insurance companies and pension funds.
