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Lloyd's of London insurance market has identified five possible destinations for an EU subsidiary and will make a decision by February, the Financial Times has reported. 19 Dec 2016
The total amount that property and casualty insurers in the US can ultimately expect to pay out over third party claims has increased, to $100 billion, according to ratings agency AM Best. 06 Dec 2016
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.
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.
Creating a new regulatory and tax framework for UK insurance linked securities (ILS) businesses will help to "maintain London's position as the most important global hub for reinsurance" post-Brexit, the government has said. 29 Nov 2016
FOCUS: Although detailed rules are not yet known, the introduction of a Gulf-wide system of value added tax (VAT) is likely to have a significant impact on financial services businesses - particularly insurance-related businesses. 22 Nov 2016
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