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Consultations & legislation
25 July 2007
The Reinsurance Directive provides for a regulatory framework for pure reinsurance companies based on the existing regime introduced by the direct insurance directives. Many of the provisions necessary to implement the Directive are already in force, and this consultation document is concerned with changes to UK legislation, mostly the Financial Services and Markets Act 2000 and related secondary legislation, necessary to complete implementation. The changes principally concern passporting arrangements for EEA-based reinsurers, and provisions covering transfers of reinsurance business.
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