OBS_VALUE: According to Directive 2009/138/EC of 25 November 2009 Solvency II, Articles 162 - 166, the Slovenian Insurance act mandates that undertakings whose head offices are situated outside the EEA must fulfil the following conditions: establishing a local agency or branch; designating a general representative approved by the competent authority; possessing in the host country assets covering at least one half of the minimum guarantee fund and depositing one-fourth of the minimum amount as security; keeping solvency margins similar to the ones required of domestic undertakings, with assets kept within the EU.