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Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.
Lloyd's underwriters are not licensed and are not permitted to write insurance in or from Afghanistan.
Lloyd’s underwriters are permitted to write reinsurance originating from Afghanistan on a cross-border basis only. The underwriting must take place outside of the territory.
Lloyd's tax department does not handle taxes in this jurisdiction.
Withholding tax at 7% applies to most (re)insurance premiums paid from Afghanistan to Lloyd’s Members (as a non-resident insurer). The UK does not currently have a double tax treaty in force with Afghanistan.
Lloyd's tax department does not hold any more information on taxes. Any additional tax liability identified as a result of writing insurance or reinsurance business should be notified to Lloyd's tax department.
Master policies (or group schemes) are a means of providing coverage to individuals with the common interest of belonging to a group or association without the need to issue separate policies to each of the individuals covered by the policy.
Lloyd’s permits the underwriting of such schemes subject to meeting certain requirements set out in Market Bulletin Y4535 (30 November 2011) “Master Policies & Group Schemes”.
As Lloyd’s is not a licensed insurer in this territory, a master policy cannot be issued. Care must also be taken where covered parties under a master policy are located in this territory.
Please refer to the Risk Locator Tool for more guidance in these instances.
Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).
Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.
Further information on contract certainty can be found on the Market Reform website.
A Global Contract is a multi-jurisdictional policy. A multi-jurisdictional policy must account for local fiscal and regulatory obligations on the insured and the insurer, including licensing and operating restrictions.
Lloyd’s Market Intelligence provides analysis of the world’s insurance industry from a geographic perspective to help Lloyd’s managing agents, brokers and coverholders grow their business internationally. The Lloyd’s Market Intelligence reporting suite is comprised of the following products:
To access statistics and analysis available for this or other territories, please visit the Market Intelligence website. Please note that the above products are password-protected, please email the Market Intelligence team at WMID@lloyds.com to obtain your relevant password.
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