The Grand Duchy of Luxembourg is a major financial center known for its high regulatory and supervisory standards, supportive and business-oriented supervisory authorities as well as highly skilled service providers, who have all contributed to the outstanding environment in Luxembourg for insurance and reinsurance business.
Nevertheless, insurance companies nowadays face multiple challenges regarding their regulatory obligations (Solvency II, PRIIPS and the IDD directive on the EU level and the new Law of 2015 on the insurance sector, applicable as of January 2016, on the national level).
To face these challenges, we provide guidance to insurance companies through this legal and regulatory framework, but also provide assistance with structuring insurance companies to be compliant with the latest governance requirements:
– corporate structuring (board / shareholder level and internal organisation),
– legal and prudential requirements for AMSB (administrative, management or supervisory body)
– structuring of key functions,
– compliance (including for data protection and anti-money laundering purposes),
– drafting / reviewing mandatory policies,
– outsourcing possibilities and requirements.
