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Legal Update

Global Corporate Insurance & Regulatory Bulletin

9 October 2013
Mayer Brown Legal Update


  • China – Second Judicial Interpretation Helps Clarify PRC Insurance Law
  • China – Foreign Insurers Allowed to Contribute Registered Capital in Yuan
  • China – Consultation on Reinsurance as a Capital Optimisation Tool
  • China – Anything Can Be Insured: Mid-Autumn Festival Bad Weather Insurance
  • Hong Kong – Is a Cover Note a Formal Insurance Policy?
  • Hong Kong – Insurers Not Presumed to Know Facts Merely Because They Are Available on the Internet
  • Myanmar – Private Insurers Commence Operations


  • UK – Capital extractions by general insurers in run-off
  • Europe – EIOPA conference on global insurance supervision


  • US – Initial Rector Report on Reserve Financing Transactions Submitted to the NAIC’s Principle-Based Reserving Implementation (EX) Task Force
  • US – New York Department of Financial Services Will No Longer Implement AG38 Principles-Based Reserving Approach
  • US - Bermuda Monetary Authority Participating in the NAIC’s Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions
  • US – FSOC’S Final Determination regarding Designation of Prudential Financial Inc. as Systemically Important Insurer
  • US - NY DFS Letter regarding Terrorism Risk Insurance Program Renewal


  • David W. Alberts
    T +1 212 506 2611
  • Lawrence R. Hamilton
    T +1 312 701 7055
  • Colin Scagell
    T +44 20 3130 3315
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