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Insurance Europe aisbl - Rue Montoyer 51 B-1000 Brussels - Belgium
  • Joint response to taxation proposals published

    Insurance Europe and the Pan European Insurance Forum (PEIF) have published a joint response to proposals put forward in the various discussion drafts published by the Organisation for Economic Co-operation and Development (OECD) as part of its action plan on base erosion and profit shifting (BEPS).

    The joint response also relates to a separate initiative by the European Commission - the action plan for A Fair and Efficient Corporate Tax System in the EU - which will also be looking into, among others, revising transfer pricing or permanent establishment rules and implementing country-by-country reporting.

    While welcoming some of the proposals, the joint response also highlights a number of concerns. 

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    30 Jul 2015
    Taxation
  • Save the date for the 8th International Insurance Conference in Dublin

    Save the date for the 8th International Insurance Conference, which will be held on 25 May 2016 in Dublin. The conference, called “Serving the customer in tomorrow’s world”, is already attracting considerable interest from speakers, sponsors and delegates.

    There is more information on the conference website here, along with details from previous conferences. There are  also a limited number of bespoke and exclusive sponsor opportunities. If you are interested in promoting your organisation to a planned audience of 600 senior global industry experts from around 47 countries, details can be found here.

    You can follow @InsuranceEurope and #InsConf16 to keep up to date as the conference takes shape, including speakers as they are confirmed, registration opening and earlybird discounts. In the meantime, the hosts, Insurance Ireland, and Insurance Europe look forward to welcoming you to Dublin in 2016.

    29 Jul 2015
    Regulation & supervision
  • Concerns raised on IFRS 9 implementation for insurers ahead of IFRS 4 Phase II

    Insurance Europe and the CFO Forum have written to the European Financial Reporting Advisory Group (EFRAG) in a response to the draft endorsement advice on International Financial Reporting Standards (IFRS) 9 for financial instruments.
     
    The insurance industry supports the endorsement of IFRS 9 in the EU, provided that its effective date for insurers is aligned with the future insurance contracts standard, IFRS 4 Phase II.
     
    Adopting IFRS 9 ahead of IFRS 4 Phase II will have a significant negative impact on the insurance industry and the users of insurers' financial statements.
     
    The reasons are twofold: on the one hand there will be accounting mismatches during the interim period which will negatively effect the relevance of the statements of financial performance. Secondly, insurers will face two significant changes to their assets and liabilities at consecutive and separate times.
     
    Consequently, the letter requested that EFRAG advise the European Commission to ask the International Accounting Standards Board (IASB) to defer the implementation of IFRS 9 for insurers, until IFRS 4 Phase II is available. However, if this global solution will be unavailable, the Commission should enable a deferral for insurance companies in Europe.

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    02 Jul 2015
    Regulation & supervision
  • 7th International Insurance Conference footage now available on YouTube

    Those wishing to catch-up with the important discussions that took place at Insurance Europe’s recent International Insurance Conference in Luxembourg can now watch footage of the event on the federation’s YouTube channel.
     
    This includes various keynote speeches and panel discussions from throughout the day, as well as the video messages from European Commission vice-president Jyrki Katainen and Commissioner for Financial Stability, Financial Services and Capital Markets Union, Jonathan Hill.
     
    Various other materials, such as images, speeches and presentations, are also available here

    30 Jun 2015
  • Last chance for EU policymakers to fix data protection rules

    Last chance for EU policymakers to fix data protection rules

    Europe’s insurers remain extremely concerned about several aspects of proposed EU data protection rules that are due to enter the final stages of discussion by the European institutions, according to Insurance Europe, the European insurance and reinsurance federation.
     
    Today the Council of the EU adopted its general approach on the proposed regulation on the protection and free movement of data. This means that discussions to finalise the rules, called trialogue discussions, can begin between the European Parliament, the Council and the European Commission. Consequently, it is important that insurers’ concerns are taken on board during these final discussions to avoid the rules having unintended consequences. 

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    15 Jun 2015
    Conduct of business
  • 7th International Insurance Conference held in Luxembourg

    Last week Insurance Europe held its 7th International Insurance Conference, which focused on issues relating to the globalisation of insurance.

    The event, which was held in Luxembourg, broke its own record in terms of attendance, with around 400 people in the audience and 40 countries represented. It also received extensive international press coverage and a huge amount of twitter engagement, with around 500 tweets to the #InsConf15 hashtag.
     
    The line-up of speakers and panellists included a variety of high-level speakers from both the insurance industry, its regulators and other stakeholders.
     
    A number of breakout sessions tackled issues such as adapting the pensions market to changing demographics, opportunities for using smart technology, investing in infrastructure, how to address underinsurance and how to adapt to extreme events.
     
    For access to materials from the conference, such as images, speeches and presentations, please click here
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    02 Jun 2015
  • Sergio Balbinot reappointed as president of Insurance Europe

    The general assembly of the federation has unanimously voted to extend the mandate of Sergio Balbinot as president of Insurance Europe for a further three years.

    The mandate of Balbinot, who is a member of the management board of Allianz SE, and who is responsible for southern and western Europe and Africa, had been due to expire in 2015.
     
    Commenting on his reinstatement, Balbinot said: “I am honoured to have been asked to continue in my role as president of Insurance Europe. I look forward to working with my colleagues in representing Europe’s insurers during what will be a challenging time for our industry.”
     
    These challenges and others were addressed in Insurance Europe’s annual report, which was published today. 
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    26 May 2015