There is no doubt that the insurance industry will see many tax implications arising from Brexit negotiations. Whilst there is no guarantee that all of these will be positive, it is wise to be aware of what they are. Our knowledgeable experts can guide you through any uncertainty and decode any confusion.
With so much uncertainty surrounding future jurisdiction within the insurance industry in the face of Brexit, it is difficult to know what are the best next steps to take. To learn more about passporting rights and how it can work for you, our experts are on hand to advise and help you navigate through with the support you need.
Starting afresh in a new country, such as Belgium, is always difficult but this is compounded when starting a new business. Decoding the legal and regulatory issues can sometimes deter you from taking the leap, but our experts can help you navigate your way.
There are many factors contributing to whether a move to Belgium is right for you, and trying to decipher these can be confusing. Mazars has a series of experts on hand to help and advise you on what criteria you will possibly need and how to overcome possible challenges.
The general insurance and reinsurance sector has enjoyed benign losses and excess capital for a considerable number of years, driving the sector towards a soft market.
Consequently, current capital management levels are also a reflection of this soft cycle which in turn drives business plans and business decisions.
In the early hours of this morning it became clear that the British people had voted to leave the EU. The implications of that decision are already being felt in the financial markets and all businesses operating in the financial services industry need to evaluate the implications of the decision on their business and future strategy. Perhaps more urgently, as the shockwaves of the decision are being felt across UK and EU financial markets, the impact on capital and liquidity needs to be quickly addressed.
How to address the PRA concerns regarding industry reserving and pricing trends
As promised in 2016, the Prudential Regulation Authority (PRA) is now undertaking a cross-firm review of the completeness and accuracy of COREP returns. The first reviews are likely to focus on the 31 December 2016 returns and continue to the end of the year.
The new Brexit reality...
Although it only recently became clear that the British people had voted to leave the EU, the implications of that decision are already being felt in the financial markets and the financial services industry.
Our 2016 survey, which analyses the financial reporting procedures of nine Iranian banks, where total assets are in excess of $1billion (IRR equivalent) and the annual report is prepared in English, shown as a simple infographic.