Publication de la lettre circulaire 23/5 du Commissariat aux Assurances relative au Reporting annuel des sociétés de courtage et des courtiers d’assurances ou de réassurances, personnes physiques

The CAA published Circular letter 23/5 relating to the annual reporting of brokerage companies and insurance or reinsurance brokers, natural persons.
In this present circular, the CAA reminds that the amended Law of 7 December 2015 on the insurance sector in Luxembourg (LIS) empowers the CAA to regulate and supervise the insurance sector in the country. One of the requirements is for natural and legal persons in the sector, including insurance brokers, to submit accounting documents and other relevant information to the CAA.
Insurance brokers, both individuals and firms, are required to submit an Annual Reporting File to the CAA, which has been updated for the 2022 financial year to include new modules related to geographical breakdown, specifically new production placed for other intermediaries and the outstanding amount of life insurance contracts subject to reversals of intermediation.
The Annual Reporting File serves two purposes. Firstly, it serves as a means of making an account of the broker’s global activity (Global Annual Reporting). Secondly, it provides specific information on the distribution activity of (re)insurance by branch of the broker established outside Luxembourg territory (Annual Branch Reporting).
The Global Annual Reporting of a broker provides information on (re)insurance distribution activities in Luxembourg, exercised either under the freedom to provide services or freedom of establishment regimes. It includes information on the state of the commitment or the state where the risk is located, and any permanent presence of an intermediary in the territory of another member state is equivalent to a branch unless it legally establishes its permanent presence in the legal form of a foreign law legal person.
Brokers who want to carry out distribution activities of (re)insurance brokerage outside Luxembourg under the freedom of establishment regime will receive an Annual Branch Reporting file per permanent establishment to be completed. This file provides a targeted view of the specific activity of each branch, whether the latter operates in the state in which the branch is established or in other states from this branch, if applicable.
The updated provisions apply to the reference year 2022 and are subdivided into several parts providing general and detailed explanations on the information to be provided for the different modules of the Annual Reporting File. These provisions aim to ensure that the CAA has access to the necessary information to exercise its supervision effectively and efficiently.
Finally, the present circular repeals CAA Circular letter 22/9 relating to the annual reporting of brokerage companies and insurance or reinsurance brokers, natural persons.