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The EU-US agreement on insurance and reinsurance was signed in September 2017. It aims at eliminating some key trade barriers in the sector, in particular collateral and local presence requirements. The agreement also tackles the issue of supervisory authority and exchange of information. The European Parliament is due to vote on giving its consent to the Council for the conclusion of the agreement during its February II plenary session.

This document, prepared by Policy Department A for the Economic and Monetary Affairs (ECON) Committee, briefly describes the general accounting and solvency framework, provides an overview of the accounting rules applicable to entities providing insurance and pensions, and presents recent changes to accounting and solvency rules and their potential effects on pension management, financing and provision.

The EU Directive applicable to life insurance sets out what kind of information insurance companies must give to policyholders. It also allows Member States to impose broader information duties, provided that the information is necessary for the policyholder to understand the contract. In its ruling of 29 April 2015, the EU Court of Justice allowed Member States to use open-ended standards to impose information duties, provided that sufficient legal certainty is guaranteed.

In March 2011, on the basis of the Council Directive 2004/113/EC implementing the principle of equal treatment between men and women in the access to and supply of goods and services, the Court of Justice applied the prohibition of direct discrimination which does not permit any specific justification, unlike indirect discrimination, in the sector of insurance which is particularly important from an economic perspective. From 21 December 2012, dicrimination based on the gender will be prohibited. ...

Mutuals play an important role in the European economy and society, providing social coverage and other types of insurance to a significant proportion of European citizens. This study presents an overview of the specific features and roles of mutual societies in the different EU Member States, analyses relevant EU law applicable to mutuals and looks at the performance of mutual undertakings in the financial and economic crisis. The report also discusses the potential mutuals have to contribute to ...

The solvency margin system

Analüüs 23-07-2001

The establishment of solvency margins – a supplementary reserve, over and above the amount strictly necessary to meet underwriting liabilities – is one of the cornerstones of the regulatory system governing European insurance undertakings. This Briefing outlines current EU legislation in the fields of both life and non-life insurance, and also recent Commission proposals for amendment.