Public regulation

- of insurance companies

Public regulation of insurance companies has increased in volume and complexity over the last years, as recently expressed in the EU Directive on Reinsurance (2005/68/EC).

In this connection, we have seen an increased demand for legal counselling of Danish and foreign insurance companies on insurance regulatory matters.

Kromann Reumert has assisted in e.g:

• establishment of insurance and mutual reinsurance companies, including obtaining permits for carrying on insurance business from the Danish Financial Supervisory Authority; preparation of new insurance terms, preparation of other internal documents as necessary, etc.
• investment and placement rules pursuant to the Danish Financial Business Act
• so-called fit & proper approvals of new members of management in insurance companies and their holding companies
• the Danish Act on Insurance Mediation, including assistance in connection with transfer of insurance mediation businesses.     

Our services frequently also extend to foreign insurance companies that wish to carry on insurance business in Denmark, cross-border or through a Danish branch office, or wish to transfer all or part of a Danish insurance portfolio.