OBS_VALUE: An insurance undertaking which has obtained a license in Iceland and proposes to take up another class or subclass of insurance or intends to substantial change its activities, must apply to the Financial Supervisory Authority for a license for the new activity. If the undertaking fulfils the conditions concerning solvency margin and minimum amounts, taking into account the new activity, andif the application is approved in other respects, the Financial Supervisory Authority shall grant a licence for the new activity