Banking and Finance: Why Luxembourg?
On the occasion of the state mission to Poland, Luxembourg for Finance hosted a financial seminar "Banking & Finance: Why Luxembourg?" organised in Warsaw on May 8. The seminar was aimed at discussing opportunities between Poland and the Luxembourg financial centre, in particular in the areas of insurance and investment funds. Luxembourg’s extensive and comprehensive toolbox offers well-regulated vehicles for the benefit of the Polish financial community.
Luxembourg’s premiums in insurances account for 21.5bn Euros in 2013. With a market share of 2.1%, the distribution of insurance products made in Luxembourg into Poland still has potential. As a stable and strongly regulated country in the heart of Europe, Luxembourg can serve as a hub for Polish insurance companies opting to reach the entire European market.
In the investment fund sector, Luxembourg is at the forefront of developing a strong track record in alternative investments. After the success of the worldwide known UCITS brand, the Luxembourg asset management industry is working on developing a recognised AIFMD brand. Polish asset managers can certainly leverage on this expertise. Luxembourg market share of foreign cross-border funds registered for sale in Poland already accounts for 94%.