Insurance & Reinsurance
As has been the case for banking, the insurance industry in Luxembourg has always been internationally very attractive, mainly in relation to wealth management and life insurance, which led to this business becoming cross-border and international a long time ago. With the increasing concentration by world-leading undertakings and companies of their captive or reinsurance business in Luxembourg, this industry sector will probably take a new lead and a significant part in the Luxembourg market.
Together with the financial sector, the insurance and reinsurance industry is however also one of the most highly regulated businesses in the financial world. Since 1991, the insurance market has experienced considerable changes in its legal framework, and the implementation of the European directives, including recently the European Reinsurance Directive, has resulted in a significant need for sophisticated advice in both regulatory and contractual matters of the insurance and reinsurance businesses.
We have been acting on contractual matters for insurance companies since the early years of our law firm, and the quantity of insurance litigation which we have handled in Court over the last 15 years is simply enormous. More recently, with the implementation of the European Reinsurance Directive in Luxembourg, we have updated our expertise for the captive and reinsurance businesses, and we advise leading institutional and corporate clients on all aspects, in relation to their insurance or reinsurance coverage through tailormade agreements and structures. Please refer to our detailed list of practice areas for the Insurance & Reinsurance activity.
