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An industry-backed scheme designed to make it easier for small businesses at risk of flooding to obtain insurance will begin next month, according to press reports. 28 Sep 2016
The UK Treasury Committee has launched an inquiry into Solvency II, the harmonised EU-wide insurance regulatory scheme that came into force on 1 January this year. 15 Sep 2016
The EU's Solvency II Directive came into force on 1 January 2016. The directive consolidates and harmonises existing EU insurance directives including life and non-life directives, the reinsurance directive and various others.
This guide is based on UK law. It was last updated on 1st April 2008.
Part VII of the 2000 Financial Services and Markets Act (FSMA) sets out the statutory mechanism allowing insurers and reinsurers to transfer portfolios of insurance business from one entity to another, subject to court approval.
Maintaining 'passporting' rights, which allow UK financial firms to market and sell their products and services across the EU, will be "fundamental" for UK insurers during the Brexit negotiations, the chairman of Lloyd's has warned. 07 Sep 2016
Demand for UK defined benefit (DB) pension scheme bulk annuity buy-ins is set to rapidly outstrip supply, and is likely to exceed market capacity by £125 billion within 10 years, according to pensions consultancy Hymans Robertson. 25 Aug 2016
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