VAT deduction right
Alert regarding a circular issued by the Luxembourg tax authorities regarding the VAT deduction right. The Luxembourg VAT authorities impose the direct allocation and special prorata methods based on allocation keys other than that based on turnover. This change is applicable as from 2013.
VAT deduction right
Mexico's new insurance and surety institutions law
Enterprise risk management (ERM) in Japan
The journey toward greater customer centricity
Risk-based capital in the Chilean market
The role of CROs in a risk-focused era
The Luxembourg Financial Connection, Issue 19
EU Financial Transaction Tax in January 2014? The Commission’s revised proposal
Global insurance outlooks 2013
Global insurance: vast potential
The global insurance market is remarkably strong, despite continued fallout from the financial crisis. Low interest rates coupled with relatively poor investment returns have impeded growth, but demand for insurance products and services remains high.
We keep you prepared by providing insights into the nuances of your market, as well as global trends putting pressure on the industry.
Stay nimble amid risk and regulation
Waves of global legislation continue to pressure management and absorb precious resources. Combined with the need to innovate in a highly competitive environment, this is causing some insurers to withdraw from long-standing core markets and product lines.
However, insurers are adapting by leveraging technology and developing operating models that are compliant with Solvency II. New business architectures will enable insurers to release better products more quickly and cheaply.
Gain market insight
The balance of power is shifting toward the customer, and distribution models are rapidly evolving. Emerging markets in Latin America, Asia, Africa and Eastern Europe are future battlegrounds that offer big prizes – but only if insurers can get it right.
Success will be achieved with patience, long-term investment and genuine understanding of local dynamics.
Are you ready for Solvency II?
At the recent Trilogue meeting, the European Commission proposed a deferral of the implementation date of Solvency II to January 1, 2015, but the proposal did not reach consensus.
Are you ready?
Related content
Implementing IFRS 4 Phase II with IFRS 9 and Solvency II
The size and complexity of the multi-year implementation of IFRS 4 and IFRS 9 is expected to impact companies fundamentally. Given the potential synergies and differences, the time to address these issues is now. See our implementation and project management considerations from an IFRS 4 Phase II and IFRS 9 perspective.
Actuarial and risk management strategies
Never has it been more critical for companies to understand and stay in tune with the changing climate of their business. Companies want to achieve competitive advantage and adapt quickly to the evolving business environment. Yet, there is a growing gap between the volume and complexity of risks that companies face today and the techniques available to manage them. We can help fill those gaps by providing services that can enhance your company's decision-making.
We combine global insight and local reach to assist financial services and insurance clients in developing and validating strategies to make sound decisions. The outcome of this collaboration is important to the success of your enterprise.
Our areas of focus include the following services:
- Actuarial transformation
- Actuarial review
- Actuarial operations
- Changes to financial reporting methods
- Performance improvement
Related content
Be prepared for IFRS/accounting changes
We are increasingly living in a global economy — with trade and inbound and outbound investment a fact of life. It's no wonder capital markets have long advocated for globally recognized accounting standards.
Until recently, that common accounting language has been a missing link. Now, policymakers, lawmakers and regulators are working alongside standard-setters to provide a single set of high-quality, global accounting principles.
Benefit from our timely insights as your prepare for this transition.
Related content
Limited improvements to IFRS 9 for insurers
Now that the IASB has confirmed its intention to consider making limited improvements to the IFRS 9 classification and measurement model, they are working with the FASB to align more closely. What is the impact on your accounting models and when should you being adopting them?
Implementing IFRS 4 Phase II with IFRS 9 and Solvency II
The size and complexity of the multi-year implementation of IFRS 4 and IFRS 9 is expected to impact companies fundamentally. Given the potential synergies and differences, the time to address these issues is now. See our implementation and project management considerations from an IFRS 4 Phase II and IFRS 9 perspective.
IFRS / accounting change publication archive
Tap into our archive of thought leadership reports and gain insight into the evolution of IFRS / accounting change and its impact on the industry.
Customer agenda
The buying behaviors, attitudes and preferences of insurance customers worldwide are changing. To understand this transformation, insurers need to determine how they must adapt to attract, deepen and preserve customer relationships.
Governance facing the industry today
We, along with Tapestry Network, established the Insurance Governance Leadership Network (IGLN), a global network centered around non-executive directors from a select group of the largest insurers from Europe, North America and Asia. The IGLN provides a peer-to-peer platform for participants to discuss critical issues facing the industry globally. Its primary focus is the non-executive director, but it also engages senior management (notably chief risk officers) and regulators, all of whom are committed to outstanding governance and supervision in support of the mission to build strong, enduring, and trustworthy insurance institutions.
Tapestry Briefings – A View from the Boardroom:
- Insurance industry facing real challenges: a view from the boardroom
- Global insurance leaders find common ground amid economic and regulatory uncertainty
Operations and technology: implementing efficiencies
In recent years, a new generation of technologies has created a renewed appetite amongst insurers for using IT to manage claims more effectively.
Yet there are still a large number of challenges to be overcome in delivering the anticipated business benefits. Are you achieving the improved claims performance you need from your IT investments?
According to our latest research, insurers could get much greater value by changing their approach.
Our survey "Delivering results through claims technologies" explores the challenges and opportunities of investing in claims technologies in France, Germany, Italy, Spain and the UK.
Related content
Connect with us
Stay connected with us through social media, email alerts or webcasts. Or download our EY Insights app for mobile devices.
