Advice on insurance regulatory and compliance questions assumes a prominent role in BLD’s legal support in all insurance lines. In this field, we offer the following services, among others:
- Advice on the establishment of primary insurers or reinsurers, on line extensions and the internationalisation of business operations.
- Expert opinions on regulatory issues, both for internal company decisions or on matters that are the subject of regulatory examination; if required, we are happy to support our clients directly or indirectly in their correspondence with regulatory authorities.
- Regulatory support for transactions, such as portfolio transfers or company acquisitions/sales. Regulatory advice on the development of new products and Advice on insurance business regulations, for example, on amendments to the articles of association, on conducting meetings of members or members’ representatives in a mutual insurance company (VVaG) or supervisory board meetings; on the allocation of departments or on the structural and procedural
- Conducting administrative proceedings or any subsequent administrative court proceedings, should no satisfactory solution emerge for the company in dialogue with the German Federal Financial Supervisory Authority (BaFin).
- Advice on outsourcing transactions (regulatory classification, drafting of outsourcing agreements).
- Preparation of communication with legislators regarding upcoming bills. We can contribute our practical experience and thus complement our range of services with a legal drafting component.
- Communication with authorities at the European level (EU Commission and European Insurance and Occupational Pensions Authority, EIOPA) plays an important role in our advisory services, for example, in product interventions in the cross-border distribution of insurance investment products.
- Restructuring advice. We are happy to provide support – even across fields in cooperation with actuaries and auditors when necessary – regarding the restructuring of insurers in the current low-interest environment (regulatory concepts for restructuring planning, generation of debt and equity capital, solvency-efficient portfolio measures, etc.).
We also draw on our extensive experience when it comes to cross-border business transactions and your company’s communication with foreign regulatory authorities. We can provide you with competent advice on cross-border portfolio transfers as well as the new market entry of German insurers abroad or foreign insurers in Germany, including as a service provider alongside your corporate law service provider.
