Brussels, 25 November 2015,
Today the Actuarial Association of Europe (“AAE”) published its key messages on the Insurance Block
Exemption Regulation (“IBER”).
The IBER is a sector-specific legal instrument which allows (re)insurers to benefit from an exemption
to the prohibition of anti-competitive arrangements laid down in Article 101(1) of the Treaty on the
Functioning of the European Union (“TFEU”). The purpose of this short paper is to reiterate the key
views of the AAE and to seek to influence the process as the time for decision draws near.
The AAE is supportive of the retention of the elements of the IBER which it believes are important to
the efficient functioning of insurance markets. The AAE represents the actuarial profession in Europe.
As the profession which bears most responsibility for the pricing/underwriting of and reserving for
insurance risks, the actuarial profession has considerable experience of the benefits which the IBER
has provided for the industry and, by extension, the consumers of its products.