FSC issue Commentary Paper on their approach to regulation of insurance groups

GIA has been in discussion with the FSC in connection with the effect of Solvency II on groups of companies which incorporate one or more insurance undertakings.

FSC has also been invited by EIOPA to discuss this topic amongst others – an unprecedented move demonstrating that Gibraltar’s voice is being heard.

As a result of these discussions and their own deliberations, the FSC has issued a Commentary paper on the Solvency II Groups regime, which you will find useful, and hopefully give firms who are part of a group an indication of how their group situation will be treated.

As always, the FSC door is open, and each case will be treated on its merits, which is the style of regulation that makes Gibraltar different from other European domiciles.