The “Versicherungsaufsichtsgesetz” (Insurance Supervision Act), or “VAG”, is the German act for the supervision of insurance undertakings. Insurers are subject to quarterly reporting requirements with respect to acquisitions of certain assets and investments; this includes reporting the composition of investment funds in which they hold units.

Insurers must compile the necessary investment fund data to comply with these reporting obligations and deliver them in the industry-wide standardised format. This encompasses the required breakdown of assets (holdings and AUM to the target fund level) by investment type and sector, as well as the debtor list and special fund notification, providing proof of the observance of regulation driven inter-mixture and diversification quotas as well as the so-called risk capital quota.

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