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New
European Directive on Reinsurance Companies
European
Regulators have recognized the need for a European Regulatory
framework on reinsurance and are currently working on
a new Directive, which is expected to be adopted in
March, 2004.
Read
here a brief presentation of the impacts for captives
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Risk
and risk management reporting
The
increasing demand for more transparency from the stakeholders'
standpoint but also from the stock exchanges regulators,
and auditors calls for new rules for risk reporting
in the annual reports.
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International
Financial Reporting Standards
The
first phase of implementation of new International
Financial Reporting Standards in
Europe will take place on 1st January, 2005.
What will be the impact of these on insurance and reinsurance
contracts and on captives?
Gecalux
has dedicated a team of specialists, which is keeping
updated with the latest developments of these measures.
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CFC
Legislation in Spain
Ley de acompañamiento 2004
As
from 1st January, 2004, the Spanish Authorities have
clarified a key aspect of their legislation regarding
international fiscal transparency, which will have a
positive impact on Spanish captives domiciled in EU
member states.
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