LUX CAA Captive Insurance Companies


On Oct. 9, LUX CAA issued a circular on captive insurance companies.


  • LUX CAA announced changes in shareholding of captive insurance/reinsurance firms.
  • Document dated Oct. 9, 2024, received from LUX CAA Oct. 21, summarized Oct. 23.
  • Overview
  • The circular letter provides details on the identification of a qualifying holding within the meaning of article 43 of the amended law of Dec. 7, 2015 on the insurance sector.
  • Clarifies certain practical aspects of procedure for notifying changes in shareholding.
  • Defines content of the notification to be submitted to LUX CAA in application of arts 87 paragraph 2 and 89, paragraph 3 of amended law of Dec. 7, 2015 on insurance sector.
  • Introduces notification forms/sheets allowing digital submission of files to LUX CAA.
  • Next Steps
  • From Nov. 1, 2024, some circulars will not apply to companies covered by cir 24/9.
  • Includes the circular for captive insurance companies as defined in art 43 of LSA.
  • Circular letter 06/1 relating to changes in shareholding of direct insurance companies and letter 02/7 relating to changes in shareholding of reinsurance firms.

Regulators LUX CAA
Entity Types IB; Ins
Reference Cir 24/9, PR, 10/9/2024; LSA 2015 (LUX);
Functions Financial; Reinsurance; Reporting; Risk; Treasury
Countries Luxembourg
Category
State
Products Insurance
Regions EMEA
Rule Type Final
Rule Date 10/9/2024
Effective Date 11/1/2024
Rule Id 230544
Linked to N/A
Reg. Last Update 10/9/2024
Report Section EU

Last substantive update on 10/23/2024