Mannheimer Swartling updates

Authorisation requirements for third-country insurers: implications of a hard Brexit
Mannheimer Swartling
  • Insurance
  • Sweden
  • 16 July 2019

In the event of a hard Brexit, UK insurers must obtain authorisation as third-country insurers in Sweden in order to offer their products to the Swedish market. Notably, insurers that are uncertain of whether the business which they intend to conduct constitutes insurance business in Sweden and is thus subject to authorisation can apply for a preliminary ruling from the Swedish Financial Supervisory Authority on the issue.

New guidance on classification of insurance‑based investment products
Mannheimer Swartling
  • Insurance
  • Sweden
  • 30 April 2019

The Council for Advance Tax Rulings has further clarified the demarcation between insurance products and other investment products under Swedish law. The council found that a unit-linked insurance plan under which the beneficiary was entitled to 99% of the invested capital on realisation of the insured risk and the policyholder received no risk compensation during the insurance period did not constitute an insurance product under Swedish law.

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