A SIMPLIFICATION of European Union life insurance legislation has been approved by the European Parliament and will now come into force, rolling the many EU rules and regulations affecting the industry into one single code.

Part of an ongoing effort to streamline Brussels' often baffling and Byzantine strands of legislation, MEP's agreed with ministers to delay final approval of a united life directive, so that recent changes on solvency margins could be incorporated. These try to guarantee that life assurance companies maintain ...

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