Identification of the critical functions of insurance undertakings

The preventive part of this regime, which requires for insurers to establish preventive recovery plans and for the resolution authority to establish preventive resolution plans, applies in particular to insurance undertakings the total assets of which, valued in accordance with the provisions of the Solvency II framework, have exceeded the EUR 50 billion threshold at least once in the last three annual financial years. Since 2019, 14 insurance undertakings are subject to the preventive part of this regime.