Fiscal Reps appoints new client director

Fiscal Reps appoints new client director

Fiscal Reps appoints new client director

FiscalReps has appointed Nazaret Gonzalez as client director in its insurers practice. She joined FiscalReps in 2011, after completing a Master’s Degree in Economics at Alicante University. Ms Gonzalez became a member of the Asociacion Profesional de Expertos Contables y Tributarios de España and is currently completing her ACA qualification. CEO of FiscalReps, Mike Stalley, said: “Core to FiscalReps’ success…

Luxembourg looking at cell legislation possibilities

Luxembourg looking at cell legislation possibilities

Luxembourg looking at cell legislation possibilities

Luxembourg is believed to be looking at the potential for cell captive legislation, according to the recent Captive Survey 2016 from International Programme News (‘A New Dawn for Captives’). Currently there is no cell captive legislation in the domicile, but given the interest in the concept and the success of cell captives elsewhere, Luxembourg may not be able to ignore…

Captive use to increase with emerging risks a target

Captive use to increase with emerging risks a target

Captive use to increase with emerging risks a target

Europe’s risk managers plan to make more use of their captives despite the continued soft market conditions and are open to the idea of using them to ‘incubate’ emerging risks such as cyber potentially going direct to the capital markets for solutions, according to a survey of Commercial Risk Europe and International Programme News readers.

New rules for Goods and Services Tax in New Zealand

New rules for Goods and Services Tax in New Zealand

New rules for Goods and Services Tax in New Zealand

The Goods and Services Tax (GST) is now applicable to non-resident insurers who provide cross-border insurance services to New Zealand-resident consumers. Since October 1, 2016, the GST in New Zealand has been applicable to non-resident insurers who provide cross-border insurance services to New Zealand-resident consumers, according to TMF Group. The new rules require non-resident insurers to register and return GST…

Ferma meets with OECD over captives and BEPS

Ferma meets with OECD over captives and BEPS

Ferma meets with OECD over captives and BEPS

Ferma has had a meeting with three senior executives from the OECD held in Paris as it continues to argue that captives are a risk management tool with a genuine economic rational. Ferma explained that it wants to dispel misperceptions about captives as countries start planning to implement the OECD base erosion and profit shifting (BEPS) anti-tax avoidance measures. “This…

EIOPA publishes paper on national recovery and resolution frameworks

EIOPA publishes paper on national recovery and resolution frameworks

EIOPA publishes paper on national recovery and resolution frameworks

The European Insurance and Occupational Pensions Authority (EIOPA) has published a discussion paper on ‘Potential Harmonisation of Recovery and Resolution Frameworks for Insurers’. “The existing fragmented landscape of national recovery and resolution frameworks could cause significant barriers to the resolution of insurers, particularly of cross-border groups,” said EIOPA. “To avoid any unnecessary economic costs stemming from uncoordinated decision-making processes between…

Insurance Ireland and DIMA to merge

Insurance Ireland and DIMA to merge

Insurance Ireland and DIMA to merge

Insurance Ireland and the Dublin International Insurance & Management Association (DIMA) are to merge in 2017 to bring together the domestic and international insurance and reinsurance sectors under one umbrella. The merged organisation will represent over 140 insurers, reinsurers and captives in an industry sector that employs around 28,000 people. Eddy Van Cutsem, interim CEO of DIMA stated “It is…

Oxfam lists captive domiciles as tax havens

Oxfam lists captive domiciles as tax havens

Oxfam lists captive domiciles as tax havens

Bermuda, the Cayman Islands, Singapore, Ireland and Luxembourg are among the world’s 15 “worst” corporate tax havens, according to new Oxfam research. According to the report, cvalled ‘Tax Battles,’ the world’s worst tax havens are: (1) Bermuda (2) the Cayman Islands (3) the Netherlands (4) Switzerland (5) Singapore (6) Ireland (7) Luxembourg (8) Curaao (9) Hong Kong (10) Cyprus (11)…

Progress on EU/US bilateral agreement on insurance negotiations

Progress on EU/US bilateral agreement on insurance negotiations

Progress on EU/US bilateral agreement on insurance negotiations

Insurance Europe says it is encouraged by progress made in the recent round of negotiations between the EU and the US on a bilateral agreement on (re)insurance. Insurance Europe reaffirmed its strong support for a swift conclusion to the negotiations in the coming days, and said the agreement should lead to a national uniform treatment of all European (re)insurers placing…