Consultation Paper on Proposals for a Green Investment Discount for Life Insurer Capital Requirements

The GFSC has issued a consultation paper seeking views from interested parties on proposed amendments to the Insurance Business (Solvency) Rules, 2015.

The proposed amendments would introduce a “Green Discount”, which would reduce the capital requirements applicable to the green fixed income assets of life insurers. Additional measures would be put in place to ensure policyholder interests continue to be protected.

These proposals would directly affect long term insurance licensees and applicants, as well as  general insurance licensees, industry bodies, insurance regulators and the wider public.

A copy of the Consultation Paper can be found here.

Respondents may submit their comments before the 10th November online here.

For further information & guidance, please contact the Advisory team at Aspida via

Sanctions Notice – ISIL (Da’esh) and Al-Qaida

The United Nations Security Council Committee has added one individual to the ISIL (Da’esh) and Al-Qaida Organisations financial sanctions regime. The following individual has been added to the consolidated list and is subject to an asset freeze: Jamal

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Sanctions Notice – Russia-Ukraine

Two individuals and four entities have been added to the list of sanctioned entities in the EU implemented by Council Implementing Regulation (EU) 2020/1367.  Individuals: Alexander Nikolaevich Ganov and Leonid Kronidovich Ryzhenkin. Entities: Joint-stock company “Lenpromtransproyekt”, Joint-stock company “The

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National Risk Assessment Workshops

In September the Commission ran interactive sector-specific workshops to assist firms in developing their mitigation of the money laundering (“ML”) and terrorist financing (“TF”) risks to their business. The Commission representatives provided an overview of

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