Insurance and reinsurance—Luxembourg—Q&A guide
Insurance and reinsurance—Luxembourg—Q&A guide

The following Insurance & Reinsurance practice note provides comprehensive and up to date legal information covering:

  • Insurance and reinsurance—Luxembourg—Q&A guide
  • 1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies.
  • 2. What are the requirements for formation and licensing of new insurance and reinsurance companies?
  • 3. What licences, authorisations or qualifications are required for insurance and reinsurance companies to conduct business?
  • 4. What are the minimum qualification requirements for officers and directors of insurance and reinsurance companies?
  • 5. What are the capital and surplus requirements for insurance and reinsurance companies?
  • 6. What are the requirements with respect to reserves maintained by insurance and reinsurance companies?
  • 7. What are the regulatory requirements with respect to insurance products offered for sale? Are some products regulated by multiple agencies?
  • 8. What are the frequency, types and scope of financial, market conduct or other periodic examinations of insurance and reinsurance companies?
  • 9. What are the rules on the kinds and amounts of investments that insurance and reinsurance companies may make?
  • More...

Insurance and reinsurance—Luxembourg—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to insurance and reinsurance in Luxembourg published as part of the Lexology Getting the Deal Through series by Law Business Research (published: March 2020).

Authors: Bonn & Schmitt—Chantal Keereman

1. Identify the regulatory agencies responsible for regulating insurance and reinsurance companies.

The Insurance Commission (CAA) is the official and exclusive regulatory authority in charge of the supervision of the insurance sector in Luxembourg.

The CAA supervises Luxembourg-incorporated insurance, reinsurance undertakings and professionals of the insurance sector, as well as activities carried out in Luxembourg by foreign entities under the principle of freedom to provide services or to operate through branches located in Luxembourg. This supervision is performed on an ongoing basis, as the regulatory authority must ensure that the insurance and reinsurance undertakings subject to the Luxembourg legislation continue to comply with the conditions under which they are authorised to carry out their activities.

2. What are the requirements for formation and licensing of new insurance and reinsurance companies?

Luxembourg insurance and reinsurance undertakings are authorised by the Minister for Finance (the Minister), after due submission of an application filed with the CAA, which is in charge of reviewing it.

The following set out the rules governing the formation and authorisation of insurance undertakings:

  1. the law of 7 December 2015 on the insurance sector, as amended (the 2015 Law);

  2. the

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