0
0
Home > Financial Services >  Insurance >  Denmark Insurance Industry – Governance, Risk and Compliance

Denmark Insurance Industry – Governance, Risk and Compliance

GlobalData’s ‘Denmark Insurance Industry – Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Denmark.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Key Highlights

– The Danish Financial Supervisory Authority (DFSA) regulates and supervises Denmark insurance industry.

– The provisions of the Insurance Act 1931 and the Code of Commerce govern the life and non-life insurance businesses in Denmark .

– Composite insurance is not permitted in the country.

– Insurance for motor vehicles and workmen’s compensation are mandatory, as is insurance for pension fund administrators to guarantee performance.

– Non-admitted insurers and intermediaries are not permitted to operate in the Danish insurance industry.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Denmark, including –

– An overview of the insurance regulatory framework in Denmark.

– The latest key changes, and changes expected in the country’s insurance regulatory framework.

– Key regulations and market practices related to different types of insurance product in the country.

– Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.

– Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.

– Details of the tax and legal systems in the country.

Scope

– The report covers details of the insurance regulatory framework in Denmark.

– The report contains details of the rules and regulations governing insurance products and insurance entities.

– The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.

– The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

– The report provides details of taxation imposed on insurance products and insurance companies.

Reasons to Buy

– The Danish Financial Supervisory Authority is responsible for supervising and regulating the insurance and reinsurance industry of Denmark

– 100% FDI is permitted in the insurance industry of Denmark.

– Composite insurance is not permitted in the Danish insurance industry.

– IPT is imposed at a rate of 1.1% on non-life insurance policies except a few classes of insurance.

– The placement of non-admitted insurance is not permitted in the country. However, EEA and EU Member State insurers are permitted to underwrite and sell non-admitted insurance contracts.

Table of Contents

Table of Contents

DENMARK

Legislation Overview

Supervision and Control

Legislation

Compulsory Insurance

Non-Admitted Insurance Regulations

Company Registration and Operation

License

Foreign Direct Investment / Ownership

Minimum Capital Requirements

Solvency Margins

Reserve Requirements

Statutory Return Requirements

Fee Structure

Taxation

Tax on Insurance Premium

Corporate Income Tax

Corporate Capital Gains Tax

Value Added Tax

Legal System

Policy Practice

About GlobalData

Contact Us

List of Tables

List of Tables

Denmark – Corporate Tax Rates for the Financial Year 2021

List of Figures

List of Tables

Denmark – Corporate Tax Rates for the Financial Year 2021

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2960

Join our mailing list

Saved reports