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Insurance & Reinsurance

EIOPA Opinion on the solvency position of insurers and reinsurers in the light of Brexit

On the 18th May 2018, the EIOPA issued an Opinion on the solvency position of insurers and reinsurers in the light of Brexit.The withdrawal of the UK from the EU might have an impact on the solvency position of insurers and reinsurers.Technical provisions, own funds, and capital requirements of insurance and reinsurance undertakings established in the EU (other than the UK) can change when the UK becomes a third country (non-EU), for the purposes of applying the Solvency II framework. Solvency II and other financial regulations distinguish between activities inside and outside the EU.This Opinion underlines the importance for national…
Romina Bonnici
5th June 2018
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Insurance & Reinsurance

EIOPA Opinion on the solvency position of insurers and reinsurers in the light of Brexit

On the 18th May 2018, the EIOPA issued an Opinion on the solvency position of insurers and reinsurers in the light of Brexit.The withdrawal of the UK from the EU might have an impact on the solvency position of insurers and reinsurers.Technical provisions, own funds, and capital requirements of insurance and reinsurance undertakings established in the EU (other than the UK) can change when the UK becomes a third country (non-EU), for the purposes of applying the Solvency II framework. Solvency II and other financial regulations distinguish between activities inside and outside the EU.This Opinion underlines the importance for national…
Romina Bonnici
5th June 2018
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Insurance & Reinsurance

Mamo TCV participates in FinanceMalta Annual Conference held on the 17th May 2018

Mamo TCV participated in the FinanceMalta Annual Conference which took place on the 17th May 2018 at the Hilton Conference Centre, St Julians.Ms. Romina Bonnici – Senior Manager, Regulatory & Compliance represented the firm as a Panellist on the Panel Discussion dealing with the Insurance Distribution Directive 2016/97.The Panel Discussion provided an overview of this Directive and its main changes compared to the Insurance Mediation Directive 2002/92/EC with the discussion focusing on its implementation and relevance to the Maltese market.
Romina Bonnici
4th June 2018
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Insurance & Reinsurance

Mamo TCV participates in FinanceMalta Annual Conference held on the 17th May 2018

Mamo TCV participated in the FinanceMalta Annual Conference which took place on the 17th May 2018 at the Hilton Conference Centre, St Julians.Ms. Romina Bonnici – Senior Manager, Regulatory & Compliance represented the firm as a Panellist on the Panel Discussion dealing with the Insurance Distribution Directive 2016/97.The Panel Discussion provided an overview of this Directive and its main changes compared to the Insurance Mediation Directive 2002/92/EC with the discussion focusing on its implementation and relevance to the Maltese market.
Romina Bonnici
4th June 2018
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Insurance & Reinsurance

The European Commission proposes to amend the Motor Insurance Directive

On the 24th May, 2018, the European Commission tabled a proposal to the European Parliament and Council regarding the introduction of a number of amendments to the Motor Insurance Directive (Directive 2009/103/EC) (the 'Directive'). The proposed changes follow a public consultation which took place between July and October 2017. The following are the amendments being proposed by the European Commission: Insolvency of an insurer: If the insurer of the vehicle responsible for an accident is insolvent, victims will be fully compensated in their Member State of residence. In cross-border situations, this will ensure that the ultimate financial responsibility is borne…
Petra Attard
30th May 2018
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Insurance & Reinsurance

The European Commission proposes to amend the Motor Insurance Directive

On the 24th May, 2018, the European Commission tabled a proposal to the European Parliament and Council regarding the introduction of a number of amendments to the Motor Insurance Directive (Directive 2009/103/EC) (the 'Directive'). The proposed changes follow a public consultation which took place between July and October 2017. The following are the amendments being proposed by the European Commission: Insolvency of an insurer: If the insurer of the vehicle responsible for an accident is insolvent, victims will be fully compensated in their Member State of residence. In cross-border situations, this will ensure that the ultimate financial responsibility is borne…
Petra Attard
30th May 2018