In late January 2014, Brazil applied for Solvency II equivalence for its insurance solvency regime. Its regulator, Superintendência de Seguros Privados (SUSEP), is currently negotiating an agreement with EIOPA in order to evaluate the extent to which Brazil’s insurance legislation complies with the upcoming Solvency II rules.
Latin American Developments
Argentina Changes Rules on the Registration of Entities with Head Offices in Black-Listed ‘Tax Havens’
By Troutman Pepper Locke on
Posted in Latin American Developments
Until recently, foreign insurers with head offices located in a ‘tax haven’ (broadly, countries that levy less than 20% income tax), were not permitted to register entities in Argentina. The Argentine Income Tax law contained a so-called ‘black list’ of jurisdictions the government considered a ‘tax haven’. …
Brazil Anti-Corruption Law To Establish Corporate Civil Liability
By Troutman Pepper Locke on
Posted in Latin American Developments
A new anti-corruption law passed by the Brazilian Senate will for the first time impose civil liability on companies that bribe public officials. …
Brazil Passes Risk-Based Capital Requirements
By Troutman Pepper Locke on
Posted in Latin American Developments
Brazil has passed a series of resolutions aimed at strengthening insurers’ capital requirements. Brazil’s insurance supervisor SUSEP said it drew up the resolutions which were approved by the National Council of Private Insurance (CNSP). The resolutions set out a risk-based framework in line with international best practice for supervision. …
Panama Announces Foreign Reinsurer Registration Requirements
By Troutman Pepper Locke on
Posted in Latin American Developments
Panama’s Insurance Superintendency has announced the creation of a new obligatory register for all foreign reinsurers and reinsurance brokers wishing to do business in the country. …
Louis Mercedes & Stephen Ixer Analyze the Growth of Microinsurance in Latin America
By Troutman Pepper Locke on
Posted in Latin American Developments
Louis Mercedes and Stephen Ixer of Edwards Wildman recently authored an article on how the microinsurance market is making strides in Latin America, which appeared in LatAm Insurance Review. …
Panama Passes New Insurance Law
By Troutman Pepper Locke on
Posted in Latin American Developments
Panama has passed a new Insurance Law which aims to boost the country’s insurance industry and changes the way local and foreign companies do business there.
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Argentina Orders Insurers to Repatriate Foreign Investments
By Troutman Pepper Locke on
Posted in Latin American Developments
Argentina’s insurance Superintendency, the SSN, recently issued a resolution prohibiting local insurance companies from maintaining any investments abroad. …
Announcing Edwards Wildman Palmer LLP!
By Troutman Pepper Locke on
We’d like to welcome you to our new firm, Edwards Wildman Palmer LLP. On August 15, the law firms of Edwards Angell Palmer & Dodge and Wildman, Harrold, Allen & Dixon announced they would officially merge on October 1 – and here we are! …
Edwards Angell Palmer & Dodge and Wildman, Harrold, Allen & Dixon LLP Announce Merger
The law firms of Edwards Angell Palmer & Dodge LLP and Wildman, Harrold, Allen & Dixon LLP today announced that they will merge on October 1, 2011 (you can read the press release here). The new firm, with 13 offices and 650 lawyers, will be known as Edwards Wildman Palmer LLP. …