National transposing legislation

The Solvency II Framework Directive was implemented by legislative decree n. 74/2015, which updated legislative decree n. 209 of 7 September 2005 (Code of Private Insurance - CAP).

IVASS, in line with the obligations resulting from the transposition of European legislation, takes regulatory measures applicable to insurance market participants characterised by a high degree of technicality and detail which is not found in the primary sources.

The acts adopted by IVASS are consistent with the principles of the primary sources and with the directly applicable supranational provisions.

IVASS' regulatory function, also in relation to the provisions of the Solvency II regime, includes:

• the adoption of Regulations and General measures of mandatory nature (previously subject to public consultation);

• the issuing of recommendations and guidelines (soft regulation) by means of letters to the market;

• the dissemination of explanatory documents, of a non-binding nature, aimed to share with supervised entities its expectations on specific topics covered by the regulatory instrument.

In this section you can find the legislative instruments used by IVASS to implement the provisions of the Solvency II regime.