^aHead, Government Affairs, Lloyd's Worldwide Markets, One Lime Street, London EC3M 7HA, U.K. E-mail: Alastair.M.Evans@lloyds.com

Abstract

The commentary briefly traces the history of the debate leading to the adoption of the EU Reinsurance Directive in November 2005, outlines its major provisions and attempts to assess the possible significance and impact of the Directive on the EU internal market and on the EU's relations with third countries. It also notes the various factors that persuaded the European insurance industry and the EU that a common approach to the regulation of reinsurers within the EU was desirable. It outlines the primary purposes of the Directive and details the regulatory approach adopted by it. It comments briefly on the timetable being followed by some Member States for implementation of the Directive into domestic law.