Tax & Regulatory Update 2024 - 2025 (19/11/2024)
We would like to invite you to the first edition of the 'Tax & Regulatory update'.
Please find the diversified programme below:
15h45- 16h00: Welcoming of the participants
16h00 - 16h30: Presentation by NBB/BNB (Speakers to be confirmed)
16h30 - 16h45: Q & A
Topics covered:
1. SII Review: state of process, key substantive changes, ...
2. Focus on some structural shifts in the life insurance market and prudential initiatives around it:
- Increase in investments in alternative assets and increase in use of 'asset-intensive reinsurance'
- Runoff and use of certain types of reinsurance (e.g. Mass lapse)
- Prudential initiatives at the level of IAIS, EIOPA and NBB linked to the above 2 points
16h45 - 17h00: Break
17h00 - 17h20: Presentation by Marc Beckers & André de Vries
Title: Tax and regulatory aspects of asset-intensive reinsurance – A case study
Topics covered:
- Funds transferred vs funds withheld
- Collateral structuring
- Custodian agreements
- Key terms in a reinsurance agreement e.g. termination rights
- Interaction with all the relevant regulators
17h20 - 17h40: Presentation by Rik Van Beers
Title: the Insurance Recovery and Resolution Directive – what to expect
Topics covered:
- A brief overview of the upcoming IRRD and its consequences for insurers.
- Main focus on the requirement of having a pre-emptive recovery plan in place, as this is likely to be the element of the IRRD being most burdensome for insurers.
- What should be included in these plans ?
- Some examples around recovery indicators, actions, and scenarioswill be provided
- The main challenges faced when implementing these plans will also be discussed.
17h20 - 17h40: Presentation by Mathias Wambeke
Title: NatCat & Solvency II aspects
Topics covered:
- EIOPA NatCat calibration proposals
- Impact for Belgian insurers
- Subsidence cover & legislation in Belgium
- Subsidence risk & modelling
18h00 - 19h00: Closing remarks and cocktail
Location: Novotel Brussels City Centre 32, Rue de la Vierge Noire - 1000 Brussels (near the Brussels Fish Market and the former Actuarial House).
In case of any question, please let us know.