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Insurance Ireland - William Fry: Service Companies in the Insurance Sector

 

Date: Wednesday, 10th November, 2021

Time: 11:00am - 12.00pm

Place: Virtual via Zoom 

 

Theme: Service Companies in the Insurance Sector – Regulatory Themes, Structures and Employment and Tax Perceptions

Overview

Many (re)insurance groups use a standalone services company model, through which another member of the group provides services or staffing to the main (re)insurance undertaking. Service companies may be regulated under the IDD regime but many are not.  The recent CP144 consultation paper identifies service companies as having the potential to threaten resilience.

Eoin Caulfield from the William Fry Insurance Group will discuss different service company models and the Central Bank’s increasingly proactive approach in seeking to ensure resilience. The seminar will touch on related regulatory themes.

Louise Harrison from the William Fry Employment Group will explore staffing, secondment and deployment models in using a services company.  This overlaps into regulatory areas including TUPE, Fitness & Probity and impacts through the forthcoming Individual Accountability and SEAR regime. 

Charging arrangements for a services company (e.g. “cost plus” or other approaches) and tax optimisation, such as VAT and transfer pricing, are central.  These will be discussed by Ted McGrath of William Fry Tax Advisors.  

Agenda

11.00am – Welcome: Jacqueline Thornton, Director of Regulation & Policy Development and Company Secretary  

11.05am – Eoin Caulfield, Partner, Insurance Group, William Fry LLP

11.20am – Louise Harrison, Partner, Employment Group, William Fry LLP

11.35am – Ted McGrath, Ted McGrath, Tax Partner, William Fry Tax Advisors Ltd

11.50am – Closing Comments: Jacqueline Thornton, Director of Regulation & Policy Development and Company Secretary

 

This event is open to Insurance Ireland members only. For further details or to attend please contact: events@insuranceireland.eu

 

Insurance Ireland (Member Association) Company Limited by Guarantee trading as
Insurance Ireland. Registered in Ireland. No. 553048. Registered Office: Insurance Centre,
5 Harbourmaster Place, IFSC, Dublin 1. DO1 E7E8.

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