WHY LUXEMBOURG ?
	We have chosen Luxembourg as location for our back offices, because its regulatory environment is one of the most adapted to cross border distribution activities.
	Luxembourg offers an excellent balance of financial security, regulatory control, tax efficiency and confidentiality.
	Luxembourg is one of the world’s leading financial markets and the centre for the rapid expansion in the pan-European life insurance industry.
	All European Union insurance operations are subject to the high standard of controls and supervision required by European Directives, but the Luxembourg state insurance regulator, the Commissariat aux Assurances (CAA), provides the strongest investor protection regime in Europe. All policyholder assets must be deposited with an independent custodial bank approved by the CAA and, in addition, the CAA maintains close supervision over investment links, financial returns and solvency margins.
	All Luxembourg life insurance funds’ interest, dividends and capital gains can be reinvested free of taxes and withholding tax deducted by many other countries can be reclaimed.
	Policyholder confidentiality is one of the fundamentals of Luxembourg law. It is a criminal offence to release information to third parties except where there are strong suspicions of money laundering activities.