Dublin, June 17, 2024 (GLOBE NEWSWIRE) -- The "Belgium Insurance Industry - Governance, Risk and Compliance" report has been added to ResearchAndMarkets.com's offering.
The report provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.
The report brings together the analyst's research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Belgium, including
- An overview of the insurance regulatory framework in Belgium.
- The latest key changes, and changes expected in the country's insurance regulatory framework.
- Key regulations and market practices related to different types of insurance product in the country.
- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
- Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
- Details of the tax and legal systems in the country.
Key Highlights
- The National Bank of Belgium and the Financial Services and Markets Authority regulate and supervise the Belgian insurance industry.
- The new Solvency II regime became effective from January 1, 2016.
- Composite insurance is not permitted in Belgium. However, composite insurers established prior to the introduction of this legal prohibition in 1992 are permitted to continue their operations.
- Motor third-party liability insurance, aviation liability insurance, and workers compensation insurance are the key compulsory classes of insurance in Belgium.
- Non-admitted insurance is prohibited in Belgium. However, insurance and reinsurance companies from EEA and EU Member States are permitted to operate without a license.
Reasons to Buy
- Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
- Gain insights into the insurance regulatory framework in Belgium.
- Track the latest regulatory changes, and expected changes impacting the Belgium insurance industry.
- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
- Understand key regulations and market practices pertaining to various types of insurance product.
Key Topics Covered:
- Legislation Overview
- Supervision and Control
- Legislation
- Compulsory Insurance
- Non-Admitted Insurance Regulations
- Company Registration and Operation
- License
- Foreign Direct Investment / Ownership
- Minimum Capital Requirements
- Solvency Margins
- Reserve Requirements
- Statutory Return Requirements
- Fee Structure
- Taxation
- Tax on Insurance Premium
- Corporate Income Tax
- Corporate Capital Gains Tax
- Value Added Tax
- Legal System
- Policy Practice
For more information about this report visit https://www.researchandmarkets.com/r/fxkkcc
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