The Insurance Block Exemption Regulation (“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 exemption covers two types of agreements between (re)insurance undertakings: 

1. Agreements with respect to joint compilations, tables and studies; and 

2. Common coverage of certain types of risks (co/re insurance pools). 

The IBER expires on 31 March 2017 and the Commission is considering whether it should be renewed, either in whole or in part. The Commission is required to submit a report on the functioning and the future of the IBER to the European Parliament and the Council by March 2016. To this effect, the Commission has held a public consultation, inviting stakeholders to submit relevant information on the functioning of the IBER, and their views on whether the Commission should renew any of the IBER provisions in a new block exemption regulation. Following the consultation, the Commission sent targeted questionnaires to affected stakeholders. It is holding bilateral stakeholder meetings in 2015 and will undertake a public consultation on the option chosen in the second half of 2016. The Actuarial Association of Europe (“AAE “) submitted a response to the consultation in November 2014.

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