Insurance Distribution

Question 1

Insurance-based investment products (IBIPs)

Answer 1

Insurance-based investment products comprise an insurance cover, consisting of protection against biometric risks faced by consumers, alongside an investment element.

Question 2

PRIIPS

Answer 2

Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 Nov 2014 on key information documents for packaged retail and insurance-based investment products

Question 3

MiFID II (Markets in Financial Instruments Directive)

Answer 3

MiFID II is a legislative framework instituted by the European Union (EU) to regulate financial markets in the bloc and improve protections for investors.

Question 4

Solvency II

Answer 4

• Directive 2009/138/EC of 25 Nov 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance
• codifies and harmonises the EU insurance regulation
• primarily concerns the amount of capital that insurance companies must hold to reduce the risk of insolvency.