ArticleLes Captives De Réassurance Au Grand-Duché De Luxembourg Et Leurs Nouveaux DéfisLe Grand-Duché de Luxembourg a favorisé l’émergence de captives de réassurance en permettant la constitution d’une réserve fiscalement déductible. LuxembourgInsuranceWildgen
ArticlePRIIPs KID: Amended Delegated Regulation Adopted By The European CommissionOn 8 March 2017, the European Commission adopted a Commission Delegated Regulation, including Annexes, supplementing the Regulation on key information documents for packaged...European UnionStrategyArendt & Medernach
ArticleSolvency II: Fund Competitiveness In A Regulated Insurance IndustryThe Solvency II Directive came into effect on 1 January 2016, setting new capital requirements based mostly on the risks embedded on the asset side of balance sheets.LuxembourgFinance and BankingKPMG Luxembourg
ArticleBrexit: New Draft Law Aiming At Mitigating Brexit Effects And Safeguarding The Interests Of The Luxembourg Financial And Insurance SectorsToday, a draft law was released which aims at ensuring that even in case of a hard Brexit, UK entities of the financial and insurance sectors with Luxembourg activities... LuxembourgGovernment, Public SectorAtoz Tax Advisers
ArticleCAA Information Note On Prudential On-site InspectionsOn 29 January 2024, the Commissariat aux Assurances (CAA) published Information Note 24/3 (Note), which summarises the outcomes of prudential on-site inspections that the CAA conducted in 2021 and 2022.LuxembourgInsuranceArendt & Medernach
ArticleESG In The Insurance Sector – CAA Update On Regulatory Challenges Linked To Sustainable FinanceOn 16 April 2024, the Commissariat aux Assurances (CAA) published Information Note 24/4 (24/4 Note) to inform market actors about the main regulatory instruments...LuxembourgInsuranceArendt & Medernach
ArticleInsurance And Reinsurance Intermediaries – Time To Assign For The Legal Entity IdentifierOn 5 July 2022, the Commissariat aux Assurances (CAA) issued Circular Letter 22/13 on EIOPA's revised guidance on the use of the Legal Entity Identifier (LEI) by insurance and reinsurance intermediaries and insurance intermediaries.LuxembourgInsuranceArendt & Medernach
ArticleLEI Codes For Professionals Of The Insurance Sector – CAA Call For ComplianceOn 13 December 2022, the Commissariat aux Assurances ("CAA") published Circular Letter 22/19 on use of the Legal Entity Identifier ("LEI") by "Professionals of the Insurance Sector" ("Circular 22/19")...LuxembourgInsuranceArendt & Medernach
ArticleLuxembourg To Create New Regime For Dormant Bank Accounts And Unclaimed Insurance ContractsThis loss of contact usually results from a variety of situations, including customers who have changed address or are deceased.LuxembourgInsuranceLoyens & Loeff
ArticleNew Circular Letter Of The Commissariat Aux Assurances On The Technical Bases For Life InsuranceAccording to Article 4 b) of Commissariat aux Assurances (CAA) Regulation No 15/03 of 7 December 2015 on insurance and reinsurance undertakings, as amended, Luxembourg insurance companies...LuxembourgInsuranceArendt & Medernach
ArticleLife Insurance Court DecisionOn 18 January 2017, the Court of Appeal of Luxembourg dealing with commercial matters reversed the decision of the 15th chamber of the District Court of Luxembourg dated 1 April 2015.LuxembourgInsuranceELVINGER HOSS PRUSSEN, société anonyme
ArticleInsurance Premium TaxA discussion on the Court of Justice of the European Union ruling, that article 50 of Directive 2002/83/EC concerning life assurance is to be interpreted as meaning that a Member State's right to subject to an indirect insurance tax on life insurance premiums paid by the individual policyholder residing in this Member State overrides the Member State's taxing rights where the contract was concluded.LuxembourgTaxBSP
ArticleDates Of Entry Into Force Of Requirements Regarding Client Sustainability Preferences In MiFID ContextOn 2 August 2022, the CSSF released a Communiqué on the application of MiFID rules to sustainability and more specifically to the consideration of the requirements relating...LuxembourgFinance and BankingCMS Luxembourg
ArticleHow The IDD Will Affect Insurance-Based Investment ProductsThe Insurance Distribution Directive (IDD) is to insurance what MiFID is to investments.LuxembourgFinance and BankingKPMG Luxembourg
ArticleSolvency II And Its Impacts On Alternative Investment Fund Managers (AIFMs)On 1 January 2016, a new EU-wide insurance supervision system became effective.LuxembourgFinance and BankingKPMG Luxembourg
ArticleInsurers: Solvency II Updates Require Your AttentionOn 8 March 2019, the EC released several proposed amendments to the Standard Formula of Solvency II, which contained several interesting points.LuxembourgInsuranceKPMG Luxembourg
ArticleNew Legal Framework For Inactive Accounts, Safes And Unclaimed Insurance ContractsUntil recently, Luxembourg's financial sector had no specific legislation on dormant accounts, safes and life insurance contracts. Only regulatory guidance was available on this highly technical...LuxembourgInsuranceELVINGER HOSS PRUSSEN, société anonyme
ArticleOutsourcing In The Insurance Sector: Evolution Of Luxembourg's Legal FrameworkOn 19 March 2024, the Luxembourg Chamber of Deputies adopted bill of law 8184 transposing Directive 2021/2118 into national law related to motor vehicle liability insurance1 (the "Bill of Law").LuxembourgInsuranceELVINGER HOSS PRUSSEN, société anonyme
ArticleUpdate On Outsourcing Of Important Or Critical Activities In The Insurance SectorOn 19 August 2022, the Commissariat aux Assurances (the "CAA") published Circular Letter 22/16 ("Circular 22/16"), which clarifies the regulatory requirements that are applicable to the outsourcing...LuxembourgInsuranceArendt & Medernach
ArticleActions To Take Regarding Circular 18/9: Insurers, Take NoteLuxembourg has recently completed its 2018 national risk assessment, which covers data from 2016–2017. This mandatory exercise was performed in preparation for the Financial Action Task Force (FATF)LuxembourgInternational LawKPMG Luxembourg