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EU: New Term Life Licences

Lloyd’s underwriters have received authorisation to write term life insurance business in Denmark, Poland and Sweden on an establishment basis.

Thu 29 May 2014

The new authorisation permits Lloyd’s underwriters to appoint coverholders or service companies in Denmark, Poland or Sweden to write term life risks located in those countries under a binding authority agreement that is not prior submit. These countries were identified by the LMA’s Term Life panel as key priorities for the life syndicates.

The authorisation of Lloyd’s underwriters to write non-life and term life risks located in Denmark, Poland or Sweden on a freedom of services basis, and non-life risks in those countries on an establishment basis, remains in place and is unchanged. For further details, please refer to the Lloyd’s authorisation section of Crystal for the relevant country.