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!
You can subscribe to our newsletter for free here.
Partner
Head of Sector Legal FS Insurance
Heidestraße 58
10557 Berlin
Tel.: +49 30 530199 200
ukeunecke@kpmg-law.com
© 2024 KPMG Law Rechtsanwaltsgesellschaft mbH, associated with KPMG AG Wirtschaftsprüfungsgesellschaft, a public limited company under German law and a member of the global KPMG organisation of independent member firms affiliated with KPMG International Limited, a Private English Company Limited by Guarantee. All rights reserved. For more details on the structure of KPMG’s global organisation, please visit https://home.kpmg/governance.
KPMG International does not provide services to clients. No member firm is authorised to bind or contract KPMG International or any other member firm to any third party, just as KPMG International is not authorised to bind or contract any other member firm.