Businesses’ global insurance programmes have developed significantly since Captive Review last visited the issue in 2013. The theme of compliance remains a hot topic in the space, but it has only become more complex through the introduction of transfer pricing and increasingly complicated local regulation in jurisdictions around the world.
The implementation of Solvency II in Europe is on the horizon, while further challenges are arising as insurance groups’ attempt to comply with FATCA in the United States as well as the changing approach from Organisation for Economic Co-operation and Development. These are all putting pressure on base erosion and profit-shifting (BEPS) work streams.
Tax authorities all over the world are increasing their scrutiny of captives and asking more questions than ever before in the drive towards greater transparency throughout the insurance space.
In Global Programmes Report 2014, Captive Review speaks to leading industry experts about how best to tackle issues such as local regulation and how to avoid common pitfalls when designing your programme’s core policy wordings.
This edition also features another roundtable discussion with contributors from ACE Group and Ernst & Young, who discuss the various emerging challenges captive owners and managers will encounter in the near future.