Insurers Call For More Protections On European Investments
Law360, London (September 14, 2020, 3:01 PM BST) -- Insurers have called for better protection for long-term investments in Europe, warning that sudden and retroactive changes to taxation have shaken confidence in some markets.
A trade body, Insurance Europe, said on Monday that all European Union member states should abide by "stable and favorable" investment rules. The Brussels-based lobby was responding to a consultation by the European Commission on standardized cross border investment rules for EU member states, which ended last week.
"Some (re)insurers decided to refrain from further investing in markets where they have incurred losses on their investments due to retroactive changes to legislation without grandfathering rights," Insurance Europe...
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