Reinsurance - M97（Dip级30学分，选修）-《再保险》
往期精选：
（前述章节【Dip系列课程】M97-第九章-再保险市场B1B-B2上）
B2 Continental European markets（欧洲大陆市场）
Sources of business（业务来源）
A few of the largest professional reinsurers in Europe acquire much of their business by direct marketing. This requires the representatives of those companies to travel or have operations in many areas of the world.
欧洲一些最大的专业再保险公司通过直接营销获得了大量业务。这要求这些公司的代表前往世界各地或开展业务。
Some smaller professional reinsurers also seek to write business through a direct relationship with their ceding companies, but many will accept business through brokers in order to keep their acquisition costs low. In the past, brokers based in Europe have played a comparatively small role in reinsurance, with a few exceptions, but this position is changing.
一些规模较小的专业再保险公司也寻求通过与分保公司建立直接关系来开展业务，但许多公司会通过经纪人接受业务，以保持较低的收购成本。过去，除少数例外，总部位于欧洲的经纪人在再保险领域发挥的作用相对较小，但这一地位正在发生变化。
Brexit（英国脱欧）
The UK left the European Union (EU) on 31 January 2020, following the referendum on 23 June 2016. A transition period applied until 31 December 2020, during which the UK continued to follow all the EU’s rules.
英国于 2016 年 6 月 23 日举行全民公投后，于 2020 年 1 月 31 日脱离欧盟 (EU)。过渡期持续至 2020 年 12 月 31 日，在此期间，英国将继续遵守欧盟的所有规则。
From 11pm on 31 December 2020, UK insurers and intermediaries lost their passporting rights to conduct business in the European Economic Area (EEA). To continue servicing their EEA clients, many UK insurers and intermediaries decided to operate through new or existing subsidiaries in the EEA, while the UK agreed to EEA firms continuing their activities for a limited period of time, if they entered the UK’s Temporary Permissions Regime (TPR) at the beginning of 2020.
自 2020 年 12 月 31 日晚上 11 点起，英国保险公司和中介机构失去了在欧洲经济区 (EEA) 开展业务的通行权。为了继续为 EEA 客户提供服务，许多英国保险公司和中介机构决定通过 EEA 的新子公司或现有子公司开展业务，而英国同意 EEA 公司在 2020 年初进入英国临时许可制度 (TPR) 后，在一段有限的时间内继续开展业务。
The EU has expressed its opposition to ‘post box’ European operations. And, it has challenged arrangements where a new European operation was set up by the UK insurer purely to deal with EU business post Brexit, with no or few employees physically present in the relevant Member State.
欧盟已表示反对“邮箱”式欧洲业务。并且，它对英国保险公司设立新的欧洲业务的安排提出了质疑，这种安排纯粹是为了处理英国脱欧后的欧盟业务，而没有或很少有员工在相关成员国实际工作。
Regarding the run-off period for existing insurance contracts, the UK has allowed EEA insurers a 15-year period to continue servicing such contracts with UK insureds. The matter is more complex for UK insurers’ contracts with EEA insureds, as every EU State has implemented different rules which apply to UK insurers in its jurisdiction.
关于现有保险合同的终止期，英国允许 EEA 保险公司在 15 年内继续为英国被保险人提供此类合同。对于英国保险公司与欧洲经济区投保人签订的合同，问题更加复杂，因为每个欧盟国家都实施了适用于其管辖范围内英国保险公司的不同规则。
Negotiations about an equivalence regime between UK and EU regulation started in March 2021 but have since broken down. It is unlikely the EU will grant equivalence to the UK’s regulatory regime, due to the expected divergence by the UK from EU rules in the future, particularly in respect of Solvency II. Equivalence under EU law occurs where a third party’s regulatory framework is sufficiently similar to EU standards that firms from that country are given access to the EU market. Equivalence is granted at the discretion of the EU Commission and can be withdrawn or changed at any time. It is not, therefore, the same as the passporting status enjoyed by UK firms before Brexit.
关于英国和欧盟监管等效制度的谈判于 2021 年 3 月开始，但此后破裂。由于英国未来预计将与欧盟规则出现分歧，特别是在偿付能力 II 方面，欧盟不太可能授予英国监管制度等效性。根据欧盟法律，当第三方的监管框架与欧盟标准足够相似，以至于该国的公司可以进入欧盟市场时，就会发生等效性。等效性由欧盟委员会酌情决定，可以随时撤回或更改。因此，它与英国公司在脱欧前享有的护照地位不同。
From the UK’s perspective, the EU Solvency II regime has been criticised because of its imposition of high-risk margin requirements. In fact, during the Queen’s Speech on 10 May 2022, it was announced that the Financial Services and Markets Bill will revoke retained EU law on financial services, replacing it with an approach to regulation that is designed for the UK.
从英国的角度来看，欧盟偿付能力 II 制度因其施加高风险保证金要求而受到批评。事实上，在 2022 年 5 月 10 日女王演讲期间，宣布《金融服务和市场法案》将废除欧盟保留的金融服务法，代之以针对英国的监管方法。
Noted: This is the position at the time of publication. Any relevant changes that may affect CII syllabuses or assessments will be announced as they arise on the qualification update page for the unit.
请注意：这是（教材）发布时的立场。任何可能影响 CII 教学大纲或评估的相关变化都将在该单元的更新页面上公布。
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