����Ӱ��

View the related checklists about Reinsurance

UK Solvency II—timeline

UK Solvency II—timeline This timeline shows key developments relating to the UK's Solvency II regime. For earlier developments see Solvency II—timeline (2007–2023) [Archived]. 2025 Date Source Document Description 10 April 2025 PRA Prudential Regulation Authority Business Plan 2025/26 The Prudential Regulation Authority (PRA) has announced its business plan for 2025/2026, outlining its strategic priorities and objectives. The strategy focuses on maintaining the safety and soundness of the banking and insurance sectors, identifying new and emerging risks, supporting competitive and innovative markets, and running an inclusive and efficient regulator. The PRA also mentions work it has already completed, ongoing and future initiatives. Key regulatory initiatives include stress testing in the banking and insurance sector, preparation for the implementation of the Basel 3.1 standards by January 2027 and enhancing operational and cyber resilience. 8 April 2025 PRA PRA launches consultation to help insurers accelerate investment in the UKCP7/25 – Matching Adjustment Investment Accelerator The PRA has published a consultation paper, CP7/25, proposing the introduction of a new framework called the...

EU AIFMD—timeline

EU AIFMD—timeline This timeline shows key developments relating to the Alternative Investment Fund Managers Directive (EU) 2011/61/EU (EU AIFMD) from January 2024 onwards. For earlier developments, see Alternative Investment Fund Managers Directive (AIFMD)—timeline [Archived]. For further guidance on EU AIFMD, see Practice Note: EU AIFMD—essentials. For further guidance on the UK Alternative Investment Fund Managers (AIFM) regime, see Practice Note: UK regulation of alternative investment fund managers—essentials. 2025 Date Source Document Description 24 April 2025 ESMA ESMA assesses the risks posed by the use of leverage in the fund sectorTRV Article: Risks in UCITS using the absolute Value-at-Risk approachTRV Article: Annual risk assessment of leveraged AIFs in the EU – 2024 The European Securities and Markets Authority (ESMA) has published its annual risk assessment of leveraged alternative investment funds (AIFs) and its first analysis on risks in the (Undertakings for the Collective Investment in Transferable Securities) UCITS using the absolute Value-at-Risk (VaR) approach. ESMA’s analysis identifies that while most EU funds utilise limited leverage, a subset of AIFs—particularly hedge...

View the related practice notes about Reinsurance

The EU Taxonomy Regulation—essentials

The EU Taxonomy Regulation—essentials This Practice Note analyses the scope and impact of the EU Taxonomy Regulation (Regulation (EU) 2020/852), and related delegated acts, and considerations for asset managers. What is the law/regulation? In December 2019, the Council of the EU and the European Parliament reached political agreement on the text of a proposed Regulation on the Establishment of a Framework to Facilitate Sustainable Investment—the so-called ‘EU Taxonomy Regulation’. The EU Taxonomy Regulation (Regulation (EU) 2020/852) was published in the Official Journal of the EU (OJ) on 22 June 2020, entered into force on 12 July 2020 and applies from the dates detailed in What is the timeline? below. The EU Taxonomy Regulation amends, and uses definitions from, the EU regulation on sustainability‐related disclosures in the financial services sector (Regulation (EU) 2019/2088) (the EU SFDR) and it is supplemented by Commission delegated regulations which are summarised in Recent developments and delegated regulations below. For more information, see the Commission’s webpages on Sustainable finance and the EU taxonomy for sustainable activities....

Jurisdiction agreements—exclusive jurisdiction agreements

Jurisdiction agreements—exclusive jurisdiction agreements This Practice Note considers exclusive jurisdiction agreements (also known as choice of court agreements). Specific considerations as to the construction, effect and enforcement of this type of jurisdiction agreements are discussed. For guidance on: • non-exclusive jurisdiction clauses, see Practice Note: Jurisdiction agreements—non-exclusive jurisdiction agreements • asymmetric jurisdiction clauses, see Practice Note: Jurisdiction agreements—asymmetric jurisdiction agreements What is an exclusive jurisdiction clause? An exclusive jurisdiction clause or agreement, provides for the courts in a specified jurisdiction to hear disputes between the parties; it creates a contractual right not to be sued elsewhere. A number of exclusive jurisdiction clauses also include forum non conveniens waivers, ie the parties irrevocably waiver any right to bringing proceedings in a jurisdiction other than that stipulated in the jurisdiction clause. Exclusive jurisdiction clauses differ from non-exclusive jurisdiction clauses in that they exclude the rights of the parties to commence proceedings in a different jurisdiction to that provided for in the jurisdiction clause. For example exclusive jurisdiction clauses, see Practice...

View the related precedents about Reinsurance

Company's Transfer Agent Instructions (IPO)

Company's Transfer Agent Instructions (IPO) [[COMPANY LETTERHEAD]] [[TRANSFER AGENT]] [[________________]] [[________________]] Attention:[[________________]] Ladies and Gentlemen: Reference is made to that certain Underwriting Agreement dated [[date]] (the "Underwriting Agreement") by and among [[________________]], a [[STATE OF INCORPORATION]] corporation (the "Company"), [the selling stockholders listed on Schedule [[__]] to the Underwriting Agreement (the "Selling Stockholders"),] and [[_____________]], as representative (the "Representative") of the several underwriters named on Schedule [[__]] to the Underwriting Agreement (the "Underwriters"), pursuant to which the Company [and the Selling Stockholders] [has/have] agreed to sell, and the Underwriters have agreed to purchase, shares of the Company's common stock, par value [[___]] per share (the "Common Stock"). On behalf of the Company, the undersigned hereby authorizes and instructs [[_____________]] (the "Transfer Agent"), as transfer agent and registrar for the Common Stock of the Company, to issue, countersign and register certificates (the "Certificates") for an aggregate of [[_______]] shares of the

Terms of Business Agreement (TOBA)—insurer and managing agent/broker

Terms of Business Agreement (TOBA)—insurer and managing agent/broker An Agreement dated [date] governing the conduct of Insurance Business between: 1 [Full name of insurance company][(insert company acronym)] incorporated and registered in [country] with company number [number] whose registered office is at [registered office address OR (the Insurer) full name of managing agent] on behalf of the underwriting members of all Lloyd’s syndicates as managed by it from time to time (the Managing Agent) AND 2 [Full name of broking company] incorporated and registered in [country] with company number [number] whose registered address is at [registered office address] (the Broker) (collectively the “Parties” and each individually a “Party”) AGREED TERMS 1 Definitions and interpretation 1.1 The following definitions and rules of interpretation apply in this Agreement: Agreement • means this agreement, the “Terms of Business Agreement Non Risk Transfer or Risk Transfer". Appointed Representative • means a person who satisfies the conditions of section 39(1) of FSMA. Business Day • means a day,...

View the related q&as about Reinsurance

In relation to promissory notes, is it possible to record the discharge of the note obligations in manuscript on the note itself? Does the release wording need to acknowledge the manner in which the note obligations were discharged? Would an agreement for the note obligations to be transferred to a specific party and discharged by way of set-off undermine their legal status as promissory notes?

In relation to promissory notes, is it possible to record the discharge of the note obligations in manuscript on the note itself? Does the release wording need to acknowledge the manner in which the note obligations were discharged? Would an agreement for the note obligations to be transferred to a specific party and discharged by way of set-off undermine their legal status as promissory notes? We refer you to the following which you may find useful for your purposes. • Bills of Exchange and Promissory Notes (2000) 5 JIBFL 168 As the above article discusses, many instruments which are called a promissory note fail to meet the statutory criteria for being a promissory note eg because there is a floating rate of interest or other payment obligation which makes the amount to be paid by the obligor not a sum certain. See section 83 of the Bills of Exchange Act 1882 (BEA 1882). If any provision of the instrument takes the instrument outside of the definition...

View the related News about Reinsurance

Marsh blamed for US$143m loss on Greensill as trial opens

Law360, London: The investment firm White Oak said it would never have invested in a financial scheme set up by now-collapsed Greensill Capital if it had not relied on misleading statements provided by the insurance broker Marsh about its cover, the firm's lawyers said at the opening of an almost US$143m trial on 6 May 2025.

Insurance & Reinsurance weekly highlights—8 May 2025

This week's edition of Insurance & Reinsurance weekly highlights includes: the case of Malhotra Leisure Ltd v Aviva Insurance Ltd; Greensill, Gupta get 2027 trial date over US$400m dispute; Regulatory costs claim 3.3% of insurance brokers revenue; cases and decisions; and key dates for your diary.