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By Laurent MASSINON, Partner Cindy Van ROSSUM, Associate, DLA Piper
Like every other individual and company in the world, Luxembourg insurance and reinsurance companies (“Companies” or “Company”) cannot avoid the consequences of the COVID-19 pandemic. Since 1 August 2020, Companies have been restricted in making dividend payments and other distributions.
1. History of the measures
Back in March 2020, the European Insurance and Occupational Pensions Authority (EIOPA) released a statement on the payment of dividends and variable remuneration policies in the context of the COVID-19 pandemic. All (re)insurers were required to take measures to preserve their capital position, balancing protection of the...
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