Insurance Update - January 2020

The following topics are covered in this issue. To see the articles, please log on to our Knowledge Portal or contact your usual Linklaters’ contact.

  • IAIS adopts package of reforms in relation to internationally active insurance groups and mitigation of systemic risk
  • IAIS application paper on recovery planning 
  • Draft IAIS application paper on liquidity risk management  
  • Green means go: how to deal with climate change
  • EU Disclosure Regulation published in Official Journal Regulation 
  • EIOPA consults on new guidelines on information and communication technology security and governance
  • EU: Upcoming changes to the margin rules under EMIR
  • ESMA finalises guidelines for reporting under SFTR
  • Brexit: how the transition period works
  • UK regulators consult on operational resilience 
  • UK’s PRA updates TMTP supervisory statement
  • UK PRA statement re pending changes to SCR calculation
  • UK’s FCA finalises guidance on GI distribution chain  
  • UK FCA Dear CEO letter to wholesale GI firms on non-financial misconduct 
  • UK FCA letter to personal and commercial lines insurers re identifying and remedying harms  
  • India: insurance regulations amended to implement 100% foreign direct investment in insurance intermediaries  
  • IRDAI holds as void the transfer of shares of an Indian insurance company pursuant to invocation of pledge  
  • India reduces net owned fund requirements for foreign reinsurers operating through branches in an International Financial Service Centre
  • Recent deals