Case C-74/18: Re A Ltd

Case C-74/18: Re A Ltd

169 NLJ 7826, [2019] SWTI 375, [2019] All ER (D) 75 (Jan)

IPT - European Union - freedom of establishment - business of insurance and reinsurance

Background

A Ltd was a provider of insurance products, established in the UK, which operated in Finland through a market licence issued by the latter member state. That company did not have a separate permanent place of business in Finland. A Ltd offered its clients, among other things, insurance products in connection with company acquisitions. The main insurance products which it offered were 'warranty and indemnity' insurance, taken out by either the seller or the buyer, and civil liability insurance relating to the liability connected with the tax situation of the undertaking transferred (tax liability insurance). The purpose of those insurance products was to cover the liability of the policyholder or to compensate him for financial loss. The purpose of the warranty and indemnity insurance taken out by the seller, or by the buyer, was that the insurance company would, in accordance with the terms of the insurance contract, cover loss sustained by the buyer as a result of the breach of the representations given by the seller in the contract for sale. The tax liability insurance operated on a similar principle, but its purpose was to cover the undertaking given by the seller in the contract for sale to the effect that the company which was the subject of the sale (the target company) would not become liable to tax in

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial