21.08.2023 | KPMG Law Insights

New issue: Newsletter Insurance Legal – Issue August 2023

The fading summer vacations are accompanied by the publication of Set 1 of the Reporting Standards (ESRS). This significant ESG regulation is a major step towards concrete regulations and their implementation.

BaFin highlights IT oversight progress in a new article in the BaFin Journal and how data gleaned from divestment notices benefits the industry. Another interesting development is the publication of a BaFin leaflet on the allocation approach for life insurance companies. In the case of these companies, there is a need for national (voluntary) disclosure requirements due to the specifics of the German market. The most recent minutes of BaFin’s IT expert panel are available and provide information on the role of the regulator and the regulatory roadmap. Insurance Europe issues a statement on the extension of the provisional equivalence of some jurisdictions to Solvency II and welcomes the efforts of the EU Commission.

We wish you an insightful reading and remain with best wishes!

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ukeunecke@kpmg-law.com

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