In today's competitive and dynamic (re)insurance industry, outsourcing has become an integral strategy for organisations seeking efficiency, cost-effectiveness, and specialised expertise.
The Circular letters 21/15 and 22/16 of the CAA establish the framework applicable to insurance and reinsurance companies when outsourcing activities and functions to third-party service providers or other entities within the same group. They introduce new requirements, particularly concerning the selection, documentation, and communication to the CAA of Cloud computing solutions (CAA 21/15), business processes and IT outsourcing arrangements (CAA 22/16).
To maintain compliance, insurance and reinsurance companies must review their internal governance processes, allocating sufficient resources to document and oversee their outsourcing relationships with such service providers.
This training session focuses on the requirements introduced by both circular letters, especially in terms of outsourcing assessment, due diligence, risk assessments, insurance secrecy, notifications, oversight of service providers, and exit strategies. Our experts will also share their experience of best-identified market practices and essential steps toward ensuring that outsourced activities comply with the regulatory requirements.
This module is part of our Insurance curriculum.
Duration:
1h30 for Knowledge & Competence audience/ specialists
1h for Fit & Proper/ Boards, C-suite
Language: Available in English and French. The supporting material is only available in English.
Number of participants: up to 15
Available under intra-company course (i.e. dedicated session)
By the end of the training, participants will be able to:
Target audience
Anthony is a partner specialised in insurance/reinsurance and international tax structure, and is actively involved in PwC Luxembourg Reinsurance and Insurance Group (RIG), including the insurance and reinsurance regulatory team.
Anthony has more than 18 years of experience serving several multinationals, subsidiaries of European and US registered companies reporting under IFRS or Lux GAAP in the insurance and reinsurance sector, starting in 2003 in PwC Paris insurance department and in PwC Luxembourg.
In the past years, Anthony has been involved in the development of the PwC Luxembourg insurance regulatory practice, with a strong focus on cross-border distribution as well as regulatory licensing projects. In that context, he co-heads the IDD service offering of PwC Luxembourg, and is a member of the ACA IDD working group.
Marc is specialised in the financial services industry with a focus on insurance and reinsurance.
He has a significant experience in the audit of subsidiaries of international groups reporting under Luxembourg GAAP and IFRS, including captive reinsurances. Additionally to financial audit, Marc has advised several international groups on operational and regulatory topics in relation to the insurance and reinsurance industry.