The Irish insurance business has recently experienced
Brexit-related developments.
EU-UK Trade and Cooperation Agreement and the (Re)insurance
Sector
The signing of the EU-UK Trade and Cooperation Agreement (TCA)
on 30 December 2020 gives greater clarity on the new relationship
between the UK and the EU27 Member States, including Ireland. The
TCA means that there is now certainty on trading arrangements
across a range of sectors. However, it does not contain much of
significance for (re)insurance or financial services
generally.
The statements in the TCA about a framework for regulatory
cooperation to be agreed by March 2021 between the EU and the UK
To print this article, all you need is to be registered or login on Mondaq.com.
Originally Published in Chambers Insurance & Reinsurance
Guide 2021: Bermuda
This guide provides the latest information on sources of
insurance and reinsurance law, insurance and reinsurance regulatory
bodies and legislative guidance, overseas-based insurers or
reinsurers, M&A activity relating to insurance companies,
alternative risk transfer (ART) transactions and insurtech
developments.
1. BASIS OF INSURANCE AND REINSURANCE
LAW
1.1 SOURCES OF
INSURANCE AND REINSURANCE LAW
The principal legislation governing companies in Bermuda is the
Companies Act 1981, as amended (Companies Act), under which the
majority of companies in Bermuda are incorporated by