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Insurance Europe aisbl - Rue Montoyer 51 B-1000 Brussels - Belgium
  • Speakers and moderator announced for under insurance breakout session

    Insurance Europe has announced Anna Maria D’Hulster, secretary general of the Geneva Association as moderator, and Kai-Uwe Schanz, chairman & partner at Dr. Schanz, Alms & Company, and John Tan, CEO of Asia Capital Reinsurance Group, as speakers for its breakout session on under insurance, and the protection gap it results in.
     
    The session will examine how the protection gap is both defined and measured for non-life and life and health insurance, and the participants then discuss how insurers can address it.
     
    To register for the conference please click here

    25 Mar 2015
  • Cross-selling guidelines should be consistent with EU legislation

    Insurance Europe has responded to a consultation by the Joint Committee of the European Supervisory Authorities on guidelines for cross-selling practices.
     
    Insurance Europe stressed among other things the importance of ensuring a coherent approach and avoiding going beyond the scope and requirements of the relevant primary legislation. It also highlighted that the guidelines should not address issues and requirements that are not specific to cross-selling practices, particularly when such issues apply to the sale of all insurance products, eg advice, disclosures, training and remuneration.

    Provisions on cross-selling are still being discussed as part of the ongoing review of the Insurance Mediation Directive (IMD 2), and may be subject to further changes in the course of trialogue negotiations. Insurance Europe therefore welcomed the Joint Committee’s acknowledgement of this fact and highlighted the importance of ensuring that the proposed guidelines are fully aligned with the final provisions of IMD 2.
     
    A final report, along with the final guidelines, is expected to be published by the Joint Committee by the end of 2015.
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    23 Mar 2015
    Conduct of business
  • Insurance Europe publishes indirect taxation booklet

    Insurance Europe has published an update to its booklet on indirect taxation on insurance contracts in Europe.
     
    The booklet, which is renewed annually, provides a guide to the fiscal and parafiscal taxes on premiums in each of its member countries with indirect taxation on insurance contracts.
     
    For each country there is a table mentioning the risks covered by specific fiscal or parafiscal taxation.
     
    Any other risks that are subject to the basic regime are shown under the “other classes” heading.

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    19 Mar 2015
    Taxation
  • Insurance Europe comments on EC’s EFSI proposal

    Insurance Europe has published a position paper on the European Commission’s (EC) proposal for a Regulation on the European Fund for Strategic Investments (EFSI).

    While welcoming the proposal, Insurance Europe highlighted a number of key points which, if included, would help ensure the EFSI achieves its aims.

    These included the need for the legislation to require priority to be given to fully private financing of all projects in the pipeline, as a precondition for an assessment of EFSI support.

    In addition, Insurance Europe supported the creation of a Strategic Advisory Committee, composed of private sector experts, to provide advice to the Steering Board and be involved in the selection of suitable projects for the EFSI. The response also outlined the need for assessment of the EFSI by an independent third party.

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    17 Mar 2015
    Regulation & supervision
  • Keynote speakers announced for 7th International Conference

    Insurance Europe has announced a number of keynote speakers for its 7th annual conference to be held in Luxembourg on 27 May.

    Governor Dirk Kempthorne, Chair of the Global Federation of Insurance Associations (GFIA) and President and CEO of the American Council of Life Insurers (ACLI), is to be the first keynote speaker of the day, and will be followed later in the morning by Burkhard Balz MEP.

    To register for the conference, please click here. For updates on twitter search hashtag #InsConf15.

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    16 Mar 2015
  • Comments on passing of Insurance Laws (Amendment) Bill in India

    Commenting on the recent passing of the Insurance Laws (Amendment) Bill which raises the foreign investment cap in an Indian insurance company from 26% to 49%, Michaela Koller, director general of Insurance Europe, said:

    “The passing of the Insurance Laws (Amendment) Bill by the Indian parliament is a major step forward in the continued evolution of India’s dynamic insurance market. By being given access to more outside investment, Indian insurance companies will not only benefit from additional capital, but also from the new expertise that such investment can bring.
     
    “It will also help to spread the impact of loss events to a wider spectrum of insurers and reinsurers around the world, especially given that foreign reinsurers will now be allowed to set up branches in India. As a result, this bill will further reduce concentration risk in India and help to secure growth and stability in one of the world’s most important economies.”
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    16 Mar 2015