Luxembourg is a major centre for cross-border life
insurance (mainly unit-linked products) and for captive
reinsurance. Luxembourg has been chosen by several
major insurance companies as a base for launching
life insurance products to be marketed throughout
Europe under the EU freedom of services provision.
The country has achieved its ambition to make insurance
the third pillar of its financial sector, along with
investment funds and banking. Following the successful
development of the reinsurance captive sector from
1984, in December 1994 the government transposed into
national law the third generation of EU Directives,
positioning the country as the first true pan-European
centre for life insurance and the promoter of cross-border
marketing of insurance products.
Luxembourg insurance and reinsurance companies benefit
from a sound legal and regulatory framework with the
"Commissariat Aux Assurances" ("CAA") safeguarding
the high quality of insurance/reinsurance operations
through an efficient supervisory review and monitoring
of the smooth running of their business.
Case Studies:
Insurance Challenges:
Solvency II:
IFRS Framework for Insurance:
