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Luxembourg > Insurance

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Allen & Overy Luxembourg works closely with its corporate and finance team to provide a ‘high standard’ of service, predominantly on insurance M&A and regulatory issues. Fabian Beullekens advised Ageas on the merger between Fortis Luxembourg Vie and Cardif Lux International. Counsel Peter Myners also assisted on this deal and is praised for his ‘proactivity and ability to find business-driven solutions in complicated transactions’. Pierre Schleimer has a focus on regulatory and insolvency-related insurance work.

Arendt & Medernach has ‘good knowledge of the insurance sector’ and acts for the full spectrum of players in the field across a range of regulatory, M&A and litigation. The team recently advised a major North American group on a project for establishing its European life insurance operations in Luxembourg. Transactional insurance specialist Carine Feipel has ‘a great level of practice and knowledge’, and founding partner Paul Mousel has unrivalled experience of the financial services industry.

Bonn & Schmitt assists major insurance and reinsurance companies across a raft of regulatory matters, including representing them before the insurance regulatory agency. Senior counsel Chantal Keereman is the main contact.

Sitting within the wider corporate group, Linklaters LLP’s insurance practice is focused on transactional work within the sector, often containing a multi-jurisdictional component. Marc Loesch was part of a team that represented BNP Paribas Cardif (parent company of Cardif Lux International) on its merger with Fortis Luxembourg Vie.

Schiltz et Schiltz has a pre-eminent reputation in the market for handling contentious insurance matters. Franz Schiltz is recommended.

Baker & McKenzie handles a range of transactional and regulatory work for insurance companies. The group often works closely with the tax practice in relation to structuring new products within the life insurance arena. Jean-François Findling is ‘a serious competitor in the insurance field’, and is the main partner in the team, which was recently strengthened by the arrival of associate Michael Brückner, who was formerly in-house at a Luxembourg-based insurance company.

Wildgen, Partners in Law provides a ‘proactive and solutions-oriented’ service to clients across a range of regulatory and transactional work. Michel Bulach is praised by one client as ‘able to understand our needs and legal philosophy so as to act almost as our internal general counsel’.

Elvinger, Hoss & Prussen handles insurance matters out of its banking and finance department, including restructurings and takeovers.

Kleyr | Grasso | Associes is particularly accomplished at handling contentious insurance instructions, where Rosario Grasso is recommended. Clients include Axa Insurance, Fortis and DAS Insurance.

Kremer Associés & Clifford Chance has some regulatory capability within the sector and benefits from its connections within the financial services industry.

Molitor Avocats à la Cour is accomplished at handling regulatory and contentious work in the insurance sector and is particularly strong at handling professional liability disputes. Recent work includes representing an uninsured holidaymaker in claims arising following a fatal motor accident. Michel Molitor is recommended.

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Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Towards a stronger enforcement of competition law in Luxembourg from 1 February 2012

    Seeking to improve the efficiency of its Competition authority, the Grand Duchy of Luxembourg adopted last 23 October 2011 a new competition law.
  • Luxembourg Alternative Investment Funds

    Asset Classes - Hedge; Real Estate; Private Equity; Venture; Mezzanine; Infrastructure
  • New Germany - Luxembourg double tax treaty signed

    On 23 April 2012, the Grand Duchy of Luxembourg and the Federal Republic of Germany signed a new double tax treaty (the "New Treaty") which will replace the double tax treaty currently in force dated 23 August 1958. The New Treaty basically follows the provisions of the OECD Model Tax Convention, but certain specific provisions have been added.
  • Tax Update April 2012

    Our April tax update highlights the latest important changes in Luxembourg tax law, including the enactment of the law relaxing the conditions to be met in order to benefit from the SPF tax status. Other topics include inter alia recent case law on the exemption of income deriving from the sale of preferential subscription rights and the first decisions of the Luxembourg administrative courts relating to the exchange of information upon request based on the law of 31 March 2010.
  • European Commission publishes AIFMD level 2 implementation proposals

    The European Commission’s proposals for level 2 implementation measures for the Alternative Investment Fund Managers Directive has been circulated to European Union member states and to the European Parliament. The Commission’s draft has prompted criticism from hedge fund managers quoted in media reports and from a hedge fund industry body, the Alternative Investment Management Association, that in certain areas its proposals differ significantly from those put forward by the European Securities and Markets Authority (Esma) in its advice delivered to the Commission on November 16.
  • Luxembourg’s amended SIF law comes into force

    Luxembourg’s legislation amending the February 2007 law on Specialised Investment Funds came into force on April 1, following publication in the country’s official gazette, the Mémorial, on March 30. It is now identified as the law of March 26, 2012, the date on which it received royal assent.
  • ESMA refines proposed framework to deal with complexity of ETFs and other Ucits

    The European Securities and Markets Authority has published on January 30 a consultation paper proposing future guidelines for exchange-traded funds established as Undertakings for Collective Investment in Transferable Securities and other issues related to the Ucits regime. The Esma proposals cover both physical ETFs, which replicate the performance of stock, bond, commodity, currency or other indices by holding shares or other securities in the proportions that make up the index in question, or a sample thereof, and synthetic ETFs, which use swap transactions to obtain the economic performance of the index, using a basket of securities as collateral.
  • Publication of the new law on SIFs

    The law of 26 March 2012 amending the law of 13 February 2007 relating to specialised investment funds (“SIFs”) was published today in the Mémorial A-063 and will enter into force on 1 April 2012. 
  • ACCOUNTING ASPECTS

    I. Law of 10 December 2010 relating to the introduction of the International Financial Reporting Standards (IFRS) II. Grand-Ducal Regulation of 14 December 2011 relating to the procedure for filing financial information electronically with the Luxembourg Trade and Companies Register
  • ESMA launches discussion paper on AIFMD technical standards

    The European Securities and Markets Authority has published on February 23 a discussion paper on key concepts of the Alternative Investment Fund Managers Directive and types of alternative fund manager to initiate a consultation process aimed at finalising its policy approach.

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