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Erscheinung:06.06.2024 | Topic Governance Circular 11/2023 (VA) – Fit and proper assessment of the professional qualifications and good repute of individuals responsible for key functions or who carry out key functions, in accordance with the Insurance Supervision Act.

This circular provides explanations of the professional and personal requirements made of individuals who perform key functions (i.e. who are responsible for or act on behalf of the key function) and of the associated notification requirements based on the German Act on the Supervision of Insurance Under-takings (Versicherungsaufsichtsgesetz – VAG).