Representation

Life advancing

Representation for our sector and Members has been an AILO priority from day one. From regulation and tax issues to legislation and compliance, we help our Members to champion the challenges of the ever-changing international Life environment in many ways.

When cross-jurisdictional issues arise, AILO is uniquely placed to coordinate collective action on behalf of its Members, to provide effective representation with legislators and governmental bodies”

LISA RODRIGUEZ
MANAGING DIRECTOR,
CANADA LIFE INTERNATIONAL ASSURANCE (IRELAND) DAC

AILO at work

Navigating regulatory change

Problem

The use of trusts in conjunction with cross-border life policies forms an important tool in compliant tax planning. Non-EU trusts taking out life policies with Irish providers need to register with the Irish Central Register of Beneficial Ownership of trusts (CRBOT) as well as the UK’s Trust Registration Service, but the CRBOT process was problematic.

Solution

An AILO working group was formed and engaged in an active dialogue with the Revenue Commissioners and Central Bank of Ireland to outline the problems AILO Members experienced in meeting their regulatory requirements. This led to a Pilot exercise which resulted in a number of enhancements to the registration system, an updated Quick Reference Guide and Frequently Asked Questions document.  The AILO working group continues to engage with the Revenue Commissioners to improve the practical registration issues.

Challenging legislative remit​

Problem

IVASS the Italian insurance regulator proposed new regulations that are contrary to EU Freedom of Services legislation. If implemented, these regulations would discriminate against products sold into the Italian market by foreign providers and result in a number of additional practical obstacles for non-Italian providers.

Solution

AILO responded to these proposals by highlighting several issues raised in the draft regulation, prompting a halt to its implementation and a review by IVASS with regard to its legislative scope.

Addressing key Life issues for Members

Problem

AILO Members are increasingly stretched by industry changes and challenge beyond managing ‘business as usual’.

Solution

Using our collective depth of sector expertise and understanding, we ae continuously creating working committees and initiatives to champion key issues such as:

  • Legal & Regulatory
  • Customer Outcomes
  • Taxation
  • Digital Developments
  • Proposition and Distribution Challenges

Be part of a Life-enhancing movement   Join AILO

“By working together as a sector, we can harness our collective international strength and expertise to advance Life for all of us”

Jeffrey More, AILO Chair Apply here