On 27 November 2018, the Recovery and Resolution (Insurers) Act (Wet herstel en afwikkeling van verzekeraars, the "Act") was adopted by the Dutch parliament. Consequently, Dutch insurers again face major supervisory changes, as they did following the introduction of Solvency II. Although no date for the Act's entry into effect has yet been announced, we expect it to enter into effect on 1 January 2019.
In the enclosed newsletter we discuss a number of the most important changes introduced under the Act and the accompanying decree.
We would be pleased to advise you on the implications of this Act.