COVID-19 (coronavirus) has had a devastating impact on people’s lives across the world and has caused the global economy to stall, the impact to affect businesses for years to come. Insurance companies face losses as a result of the pandemic but have by and large been prepared for such an outbreak as part of their … Continue Reading
The Risk Transformation Regulation 2017 which introduces the legislative framework for the creation of an Insurance Linked Securities (ILS) market in the UK has now come into effect. The aim of the new regime is to ensure that the UK can be a major contributor to the growth and development of the global ILS market. … Continue Reading
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published policy statements on the authorisation and supervision of Insurance Special Purpose Vehicles (ISPV). ISPVs issue insurance linked securities (ILS) which transfer risks to the capital markets.… Continue Reading
Norton Rose Fulbright’s London office is hosting ‘Insurathon 2017’ between 3 and 5 November 2017. The event will focus on innovative technology in the insurance sector and rethinking insurance related processes.… Continue Reading
HM Treasury has now published a formal consultation on legislation to implement a new regulatory, corporate and tax framework for insurance linked securities (“ILS”) business in the UK. This latest consultation follows the March 2016 initial consultation which sought feedback on the overall approach that the UK should take to develop a more competitive market … Continue Reading
HM Treasury has now published a formal consultation in relation a new regulatory, corporate, insolvency and tax framework for insurance linked securities (“ILS”) business in the UK. The Government’s aim is to reinforce London’s standing as the world’s leading insurance market by creating the necessary legal environment to allow the domicile of ILS issuers in … Continue Reading
