We successfully assisted a foreign insurer of commercial and industrial risks to extend its insurance activities in the Principality of Monaco. Such extension requires a prior approval from the Monaco authorities, as Monaco is not part of the EU/EEA. The authorisation process may vary on case-by-case basis depending on the situation of the foreign insurer (existence of a branch in an EEA/EU country, etc.). Our assistance included the preparation of the authorisation request and other filing documents, following-up with the Monaco authorities, assisting with the appointment of a general representative and a tax representative of the foreign insurer in respect of the Monaco activities.
Vincent de Bonnafos
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