Life insurance in Luxembourg and France - April 20, 2021
Chairman Benoît Martin - Head of Compliance Monument Aussurance Luxembourg SA
Opening remarks
State of the life insurance market in Luxembourg
The state of the Luxembourg life insurance market
What regulatory changes to expect? Contracts in escheat ...
Defense of the LPS
Yves baustert
Member of Executive Committee
Insurance Commission
Fight against money laundering and terrorist financing - International financial sanctions: latest developments
Visit of the FATF and fight against money laundering and the financing of terrorism
International financial sanctions
Patrick conrardy
Head of AML / CFT in life insurance and DPO
Carine Lecoq
Lawyer
Insurance Commission
Coffee-networking or individual break
DAC 6 and Life Assurance: the First 100 Days
Questions of scope and application
A practical approach to DAC 6 assessments
Food for thought in Luxembourg and abroad
Lessons learned
Simon gorbutt
Director Wealth Structuring Solutions
Lombard
Unclaimed contracts: towards a Luxembourg law (Bill 7348)
When is the contract “inactive” / “dormant”?
What are the obligations of insurance companies?
What sanctions?
The various critical opinions issued so far
Marc Gouden
Partner, lawyer at the Court
Philippe & Partners
Lunch or individual break
GDPR aspects: focus on the notice
Requirement for clarity of the notice: the instructive example of the recent case law of the Belgian Data Protection Authority
Processing based on legitimate interest: specific methods of informing data subjects
Use of personal data in court: legality of proof and adequate information for the persons concerned
Information of persons with whom the insurer is not in direct contact
Ariane Warnimont
Lawyer
Philippe & Partners
Coffee-networking or individual break
News about life insurance in France
DAC 6 / contributions of securities on contracts taken out with French residents: consequences of Council Directive 2018/822 of 25 May 2018 "DAC 6" and assessment of the reporting obligations of the B2 marker for French insurance brokers (transposed into French law by Ordinance n ° 2019-1068 of October 21, 2019 and decree n ° 2020-270 of March 17, 2020 - comments from Bofip of April 29, 2020)
Illiquidity of assets / H2O cases: implementation of the system of suspension / restriction of operations on units of account - constitution of "Side Pocket" (Article L. 131-4 of the Insurance Code introduced by the Sapin 2 law and terms of implemented by Articles R. 131-8 to R. 131-11)
EMTN: assessment of the liquidity required in the context of listings in Luxembourg (last judgment of the Cour de cassation of July 16, 2020 confirming the judgment of the Paris Court of Appeal of April 11, 2019 on referral of the cassation judgment of 23 November 2017)
Prescription: case law on the imprescriptibility of the commitments of life insurers (unenforceability of the two-year prescription and non-application of the ordinary law prescription - judgment of the Cour de cassation of March 21, 2019 and subsequent judgments of the Courts of Appeal of Paris and Toulouse June 11 and 29, 2019)
New mandatory CUs: implementation of the obligations under the new solidarity and responsible units of account and meeting funding criteria for the energy and ecological transition (article L. 131-1-2 of the Insurance Code introduced by the Pacte law of May 22, 2019)
Xavier Perinne
Lawyer at the Paris and Luxembourg Bars
Affina Legal
End of the conference
Life insurance in the German, Belgian and Italian markets - April 21, 2021
Regulatory news in Belgium
State of play on the capitalization product and the FAS
PCC inventory (what about the mobility of policyholders and other practical aspects)
KID for MOPs: what about KIIDs of underlying funds, translation requirements
New service payment deadline obligations (Law of 2 May 2019): reconciliation with the withdrawal of illiquid underlying funds
SDA decisions and regulatory impacts, in particular on the third-party manager / broker / banker, payment in kind of the premium, etc.
Right of withdrawal in contracts linked to investment funds: what about contracts concluded at a distance? What about the Belgian regulations with regard to the CJEU December 19, 2020 (C-355/18 to C-357/18 and C-479/18)
Case law: is the insurance company subject to MiFID II when providing investment advice?
New proof regime: impact on contracts concluded electronically
Christophe Steyaert, Déborah Menasse
Associate lawyers
Lallemand Legros & Joyn - LLJ
Coffee-networking or individual break
Tax news in Belgium
What future taxation for heritage?
Application of the new tax on securities accounts to life insurance
Analysis of the circular of January 7, 2021 on inheritance rights linked to life insurance in the Walloon and Brussels regions. Focus on the case of married spouses under a community regime
UC capitalization contract: what taxation for legal persons?
The global inheritance pact as a tool for civil and fiscal estate planning
Aurelien Vandewalle
Associate lawyer
Lallemand Legros & Joyn - LLJ
Lunch or individual break
All the news of the Italian life insurance market
IDD 2.0: IVASS modifications of August 4, 2020 made to IVASS 40 (distribution) regulations: focus on horizontal distributions and pre-contractual information; Regulation 41 (information and publicity): DUR unique annual statement document
Report on distribution networks: article 46 of IVASS Regulation n.40/2018 concerning the obligation to draw up the report on distribution networks: companies, including those operating under LPS in Italy, are required to apply the provisions of article 40 of IVASS Regulation n.40 / 2018
Requalification: the most recent developments concerning unit-linked contracts and multi-class contracts (Ramo 1 + Ramo 3), in particular on the nature of these contracts and on the consequences in civil and tax law of a possible requalification
Tax ruling: tax aspects insurance contract and LPS: Ruling n. 145 of 05/26/2020 - Tax on the value of insurance contracts (IVCA) / Ruling n. 244 of 07/16/2019 the tax on mathematical reserves; The main decisions of civil and fiscal courts in Italy (Court of Cassation, Tax Court)
Summary and latest developments and relationship between the different Reporting obligations: Anagrafe Tributaria - CRS - DAC6 Italian: possible misalignments? what to do in the event of a client's tax audit? Tax dolce vita and the fixed-price tax system
100K new resident flat-rate scheme: Ruling N. 178 of 11 June 2020 from the Fisc: clarifications on the withholding obligations of foreign insurance companies
Flat rate scheme for retirees: 7% tax
Marco sasso
Senior Legal & Tax Advisor
Sogelife SA
Coffee-networking or individual break
German market news
Andreas Seiwert
German dirty
Lombard International Assurance SA
End of the conference
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