Authors: Frederik Winter, Thomas Broichhausen, Wolfgang Krauel, Sven Schelo, Duncan Barber, Etienne Dessy, Alastair Holt, Paloma Fierro, Ngoc-Hong Ma, Anna Ferraresso, Andreas Van Impe, Benjamin Wilkinson, Tim Brown, Pascal Mildahn

Insurance Companies in Distress: Final Countdown for a Recovery & Resolution Regime

The countdown for a Insurance Recovery and Resolution Directive (“IRRD”) is ticking. We wrote a newsletter summarising the key elements of the framework analysing the compromise text which was agreed in January 2024. IRRD establishes a completely new framework in terms of the effective recovery and resolution of distressed (re)insurance undertakings. IRRD will apply to all (re)insurance undertakings within the meaning Solvency II.