{
  "id": "reg-mago",
  "type": "regulation",
  "languages": {
    "en": {
      "id": "reg-mago",
      "lang": "en",
      "type": "regulation",
      "title": "MaGo (Minimum Requirements for the Business Organization of Insurance Undertakings)",
      "shortDefinition": "MaGo is a circular issued by BaFin that specifies the supervisory requirements for the governance system of German insurance undertakings under the Insurance Supervision Act.",
      "synonyms": [
        "Mindestanforderungen an die Geschäftsorganisation"
      ],
      "linesOfBusiness": [
        "All lines"
      ],
      "jurisdictions": [
        "DE"
      ],
      "tags": [
        "Regulatory",
        "Governance"
      ],
      "relations": {
        "relatedTerms": [
          "term-bafin",
          "term-interne-modelle"
        ],
        "partOf": [],
        "appliesTo": [],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": null,
      "legalBasis": [
        "DE: Circular 2/2017 (VA) - Minimum Requirements for the Business Organization of Insurance Undertakings"
      ],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
      "generated": {
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        "at": "2026-08-31T00:00:00.000Z"
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      "url": "https://hgh.ch/lexikon/en/knowledge/regulation/mago-minimum-requirements-business-organization/",
      "alternateUrl": "https://hgh.ch/lexikon/de/wissen/regulierung/mago/",
      "body": "## Concept\n\nMaGo (Minimum Requirements for the Business Organization of Insurance Undertakings) is a circular issued by BaFin, the German financial supervisory authority, that specifies the general requirements for the governance system of insurance undertakings enshrined in the Insurance Supervision Act (VAG) and operationalizes them for supervisory practice.\n\n## Regulatory Content\n\nMaGo specifies central elements of the governance system, including the requirements for the four key functions (risk management, compliance, internal audit, and the actuarial function), the principles of a proper business organization, the requirements for the risk management system including the Own Risk and Solvency Assessment (ORSA), and the requirements governing the outsourcing of functions and activities.\n\n## Relevance for Supervisory Practice\n\nAs an administrative circular, MaGo specifies indeterminate legal concepts of the VAG and thereby forms a central benchmark against which BaFin measures the adequacy of an insurance undertaking's business organization in the course of its ongoing supervisory activity; it is regularly revised to integrate developments at the European level, such as EIOPA guidelines, into national supervisory practice."
    },
    "de": {
      "id": "reg-mago",
      "lang": "de",
      "type": "regulation",
      "title": "MaGo (Mindestanforderungen an die Geschäftsorganisation)",
      "shortDefinition": "Die MaGo sind ein Rundschreiben der BaFin, das die aufsichtsrechtlichen Anforderungen an das Governance-System deutscher Versicherungsunternehmen nach dem Versicherungsaufsichtsgesetz konkretisiert.",
      "synonyms": [
        "Mindestanforderungen an die Geschäftsorganisation"
      ],
      "linesOfBusiness": [
        "All lines"
      ],
      "jurisdictions": [
        "DE"
      ],
      "tags": [
        "Regulatorik",
        "Governance"
      ],
      "relations": {
        "relatedTerms": [
          "term-bafin",
          "term-interne-modelle"
        ],
        "partOf": [],
        "appliesTo": [],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": null,
      "legalBasis": [
        "DE: Rundschreiben 2/2017 (VA) - Mindestanforderungen an die Geschäftsorganisation von Versicherungsunternehmen"
      ],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
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      "url": "https://hgh.ch/lexikon/de/wissen/regulierung/mago/",
      "alternateUrl": "https://hgh.ch/lexikon/en/knowledge/regulation/mago-minimum-requirements-business-organization/",
      "body": "## Begriff\n\nDie MaGo (Mindestanforderungen an die Geschäftsorganisation von Versicherungsunternehmen) sind ein Rundschreiben der deutschen Finanzaufsichtsbehörde BaFin, das die im Versicherungsaufsichtsgesetz (VAG) verankerten allgemeinen Anforderungen an das Governance-System von Versicherungsunternehmen konkretisiert und für die Aufsichtspraxis operationalisiert.\n\n## Regelungsgegenstand\n\nDie MaGo konkretisieren zentrale Elemente des Governance-Systems, darunter die Anforderungen an die vier Schlüsselfunktionen (Risikomanagement, Compliance, interne Revision und versicherungsmathematische Funktion), die Grundsätze einer ordnungsgemässen Geschäftsorganisation, die Anforderungen an das Risikomanagementsystem einschliesslich des Own Risk and Solvency Assessment (ORSA), sowie die Vorgaben zur Auslagerung von Funktionen und Tätigkeiten (Outsourcing).\n\n## Bedeutung für die Aufsichtspraxis\n\nAls Verwaltungsvorschrift konkretisiert die MaGo unbestimmte Rechtsbegriffe des VAG und bildet damit einen zentralen Massstab, an dem die BaFin die Angemessenheit der Geschäftsorganisation eines Versicherungsunternehmens im Rahmen ihrer laufenden Aufsichtstätigkeit misst; sie wird regelmässig überarbeitet, um Entwicklungen auf europäischer Ebene, etwa Leitlinien der EIOPA, in die nationale Aufsichtspraxis zu integrieren."
    }
  }
}