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EU insurers will no longer have to post collateral before they can reinsure risks underwritten in the US, under the final terms of a covered agreement between the two jurisdictions. 19 Jan 2017
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
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.
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
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
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