Global Insurance Regulatory and Premium Tax Update – March 2017

This adviser provides a summary of the latest insurance regulation and premium-related developments affecting insurance contracts procured by a multinational group.

The update covers:

• Australia: New South Wales – Emergency Services Levy.
• Brazil: Change in Reinsurance Legislation.
• Canada:  Prince Edward Island – Increase in Premium Tax Rate.
• Colombia – Tax Law Changes.
• Greece – Ships and Aircraft Exemption.
• Gulf Cooperation Council Member States – Value Added Tax (VAT).
• India – Reinsurance Regulation.
• Kenya – Marine Cargo Insurance.
• Macau – Compulsory Professional Liability Insurance for Healthcare Providers.
• Netherlands – Exemptions From Insurance Premium Tax.
• Norway – Tax on Financial Activities.
• Russia – Reinsurance Regulation.
• Slovakia – Insurance Levy.
• UK – Increase in Insurance Premium Tax.