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Legal and Regulatory Assistance for the Distribution of Insurance Products in Monaco

DL Corporate & Regulatory helps insurers, brokers and general agents to structure their activity in Monaco and advises its clients regarding contractual, distribution, regulatory and compliance matters.

While the French regulator ACPR has jurisdiction on certain regulatory aspects of conducting insurance activities in the Principality, Monaco law includes many specificities compared to French law regarding inter alia statutes of limitation, tax, contractual obligations, consumer provisions, etc.

We regularly assist clients on:

  • Requirements for the distribution of insurance products in the Principality and operating on a non-admitted basis.
  • Regulatory authorisations for insurance and brokerage activities, including from the French regulator ACPR and the Monaco Minister of State and issues of “onshoring”.
  • Compliance of foreign insurance contracts with Monaco public policy provisions, including on life insurance contracts (Luxembourg and France).
  • Civil, inheritance, and tax implications of life insurance contracts.
  • Financial obligations and consumers provisions.
  • Legal constraints and requirements for Private Banking insurance offerings for homes, collections and contents and bringing policies and coverage in line with legal requirements; prepare endorsement wordings and summaries.
  • M&A transactions on insurance brokers and agents with due diligence and regulatory audits, analysis of scope of authorisations for Monaco activities.