Running off captives in Luxembourg: How to recover the equalisation reserve
A treasure awaits those holding the keys for unlocking Luxembourg’s main assets within the insurance industry. According to the regulator’s latest annual report, reinsurers have built up €9.3bn (£7.8bn) in equalisation reserves in the country.
The possibility to defer taxes and a booming finance industry have lured many investors into setting up insurance captives for financing of risks during the past decades. Those wishing to disinvest
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