Welcome to the second of our global bulletins keeping you up to speed with corporate insurance developments and market news from around the globe.
GLOBAL
Entering new insurance markets
The map of the insurance world is changing rapidly, with re/insurance businesses looking further afield for opportunities - whether that means investing in emerging markets, or looking for new opportunities in the mature economies.
As a result, we have compiled a brief introduction – outlining the essential information around regulatory authorisation, capital requirements and the ability to do business – for various markets in Asia, Europe, Latin America, Middle East, North America and Russia.
To request a copy of the full report, please click here.
Global M&A report
Following on from our 2009-2011 report we will be launching our new 2012 Global M&A Report at the Rendez-vous de Septembre in Monte Carlo. The report is based on data supplied for completed transactions between June 2011 and June 2012 by Thomson Reuters. Our corporate insurance specialists around the world have put together a review of key trends and activity in their regions.
EUROPE
Insurance transfers in Europe
Clyde & Co has produced a new book looking at some of the procedures available for transferring insurance portfolios across Europe. The book, edited by Geraldine Quirk in our London office, contains contributions from lawyers in a host of jurisdictions including: Belgium, Denmark, France, Germany, Ireland, Italy, The Netherlands, Portugal, Spain, Sweden, and the UK.
To obtain a free copy of the book, please click here to download an order form.
Solvency II Implementation – Hurry up and wait
A sense of frustration over the anticipated implementation of Solvency II has been growing within the UK insurance market. Having spent considerable amounts of time and money preparing for the new regime, the insurance industry can easily be forgiven for this, not least due to the uncertainty regarding the key questions around exactly when and how the implementation will happen.
Read more.
MIDDLE EAST & NORTH AFRICA
A reprieve for UAE composite insurers
Article by James O'Shea, partner and Allison Beirne, associate, in our Dubai office on the "three year solvency reprieve" for UAE insurance companies carrying on composite business (life and non-life) within the same corporate entity.
Read more.
The Saudi Arabian Cooperative Insurance Market: The Premier League of Islamic Insurance?
Article by Peter Hodgins and Matthew Owen in our Middle East offices looking at the Saudi Arabian cooperative insurance market. At the time this article was originally written, the English football Premier League was nearing the end of the 2011/2012 season... In one of the most exciting seasons of recent years there remains everything to play for going into the final games; the league champion is still to be determined, as are the teams qualifying for the European tournaments and the teams to be relegated. The season has also seen controversy, with growing scrutiny of referees' decisions and calls for the introduction of goal line technology. The 2011/12 "season" for the Saudi Arabian cooperative insurance market has been equally eventful. Much like Premier League's status in the football world, it is at the forefront of global Islamic insurance. Throughout the season there has continued to be a focus on the role of the "referee", the insurance regulator (the Saudi Arabian Monetary Agency), the changing "rules of the game" as new regulations are introduced and the financial health of the players in the market.
Read the full article.
ASIA PACIFIC
Asia Insurance Review Takaful Conference 9-10 May 2012
Takaful represents a largely untapped opportunity, especially in South-East Asia. Malaysia has long been at the forefront of the developments in the industry and is providing a model for development elsewhere in the region. However, there are fundamental issues that the takaful industry needs to address if it is to become both profitable and sustainable. In particular, the number of operators and consequent lack of economies of scale to push down the price of takaful products has impeded development in many markets.
To read more please click here.
Asia Insurance Review 8th Asia Conference on Healthcare and Health Insurance
William Tsang and Kendall Evans discuss the opportunities in the healthcare insurance industry in Asia which were emphasised throughout the Conference including changing regulation, innovation and fraud concerns.
Read more.
EVENTS
To see a full breakdown of our upcoming events, please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
