As it has been the case for banking, the insurance industry in Luxembourg has always been internationally and moreover very attractive, mainly in relation to wealth management and life insurance, which led to this business becoming cross-border and international a long time ago. With the increasing concentration by world-leading undertakings of their captive or reinsurance business in Luxembourg, this industry sector has become a significant element of the Luxembourg economy.
Together with the financial sector, the insurance and reinsurance industry is however also one of the most highly regulated businesses. Over the last twenty years, the insurance market has experienced considerable changes in its legal framework, and the implementation of the European directives, has resulted in a significant need for sophisticated advice in both regulatory and contractual matters of the insurance and reinsurance businesses.
We have been acting on contractual matters for as well insurance and reinsurance companies since the early years of our law firm, and the quantity of insurance litigation which we have handled in Court over the last 20 years is simply enormous. More recently, we have deepened our expertise in the captive and reinsurance businesses, the other professionals of the insurance sectors and we advise leading institutional and corporate clients on all aspects in relation to their insurance or reinsurance coverage through tailor-made agreements and structures.