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In March 2011, China released guidelines on how commercial banks may conduct insurance agency business in China. This client briefing looks at the framework of the guidelines, based on the need for stable cooperation of agency relationship between insurance companies...

The new Social Insurance Law came into effect on 1 July 2011 and extends social insurance coverage to foreigners working in China. The Ministry of Human Resources and Social Security has issued draft measures detailing how foreigners will participate in China's...

Solvency II, the European Commission's new regime for insurance regulation, is likely to trigger a rise in M&A activity in the insurance sector because of the increasing regulatory and compliance burden it will place on insurers. Although there is continuing...

The advent of Solvency II has resulted in detailed discussions between the UK's HM Treasury ("HMT"), HM Revenue and Customs ("HMRC") and insurance industry (both general and life) as to what it means for the tax treatment of insurance companies....

On 24 February 2011 the FSA published Consultation Paper 11/5, "Protecting With-Profits Policyholders" (“CP 11/5”). It covers a variety of issues, including the terms on which new business is written, material reductions in new business, profit...

On 7 March 2012, the FSA published Policy Statement 12/4, "Protecting With-Profits Policyholders - Feedback on CP 11/5 and Final Rules" ("PS 12/4"). It sets out a summary of responses by industry participants to CP 11/5 ("CP 11/5"),...

Direct expropriation or nationalisation is on the rise again. In mid-April, Argentina dramatically announced the nationalisation of most of Repsol's 57.4% stake in Argentina's biggest oil group, YPF. YPF's interests include rights to the valuable...

In the aftermath of the financial crisis of 2008, there emerged a consensus of opinion both on the global stage and in the domestic arena that failures in regulation played a significant role in the crisis. In the UK, in particular, the view of the then Labour...

In May 2010 we reported on the key issues facing the industry under Solvency II. Since then there have been a number of key developments (in particular, relating to the Omnibus II Directive, the creation of EIOPA and further debate on third country equivalence),...

On 1 March 2011 the European Court of Justice (ECJ) handed down its keenly anticipated judgment on a case concerning a provision of the Gender Directive which allowed insurance companies to differentiate premiums and benefits to some extent based on gender related...