Financial Institutions and Insurance

European and Belgian financial and insurance legislation is becoming increasingly complex. ALTIUS regularly advises various types of financial institutions (such as credit institutions, payment institutions, electronic money institutions, investment firms, settlement and clearing institutions, investment funds, investment managers and financial intermediaries) and insurance institutions (such as insurance companies, reinsurers, ‘mutualities’ and insurance intermediaries) about the regulatory framework that applies to them.

ALTIUS has developed a strong multi-disciplinary financial institutions and insurance practice covering the full legal spectrum of: banking & finance; dispute resolution; regulatory compliance; M&A and joint ventures; labour; money laundering; privacy and data protection; consumer protection; and other commercial issues. Our close co-operation with the tax firm, Tiberghien, has also strengthened our ability to optimise financial and insurance transactions and restructurings from both a tax and legal perspective.

We offer a hands-on, personal service to our clients and help you to reach your objectives. We invest in understanding our clients’ business needs and make sure that your legal and commercial interests are protected in the best possible way.

How we can help

Financial institutions

  • Licence requirements for financial institutions that would like to be active in Belgium (either through the establishment of a company or a branch in Belgium or through the free provision of services)
  • Corporate governance rules
  • Negotiating with the Belgian financial supervisory authorities (the National Bank of Belgium (NBB) and the Belgian Financial Services and Markets Authority (FSMA))
  • Compliance with regulated activities, such as payment services (SEPA), investment advisory (MiFID), capital market transactions (public offers, private placements), consumer credit, residential mortgage credit and the specific Belgian legislation on granting credit to small and medium-sized enterprises
  • Particular expertise regarding compliance with investment fund regulation, such as AIFMD and UCITS. Our work in this area includes: advising on the managing and marketing of investment funds in Belgium, the setting-up and cross-border migration of investment funds, and drafting and negotiating agreements with services providers (e.g. depositaries, management companies and administration agents).

Insurance institutions

  • Licence requirements for insurance institutions that would like to be active in Belgium (either through the establishment of a company or a branch in Belgium or through the free provision of services)
  • Regulatory framework, prudential supervision of insurance companies and intermediaries and providing assistance in discussions with the regulators, such as the NBB and the FSMA
  • Compliance with legislation on insurance, reinsurance and insurance intermediation (e.g. the Act of 4 April 2014 on types of insurance, the MiFID rules, etc.)
  • Compliance with legislation on trade practices (website, online sales, advertising campaigns, commercial initiatives, etc.)
  • Advice on the structuring of insurance distribution channels
  • Drafting and reviewing insurance policies, intermediation contracts, T&C and any other insurance documents complying with the applicable laws and rules


  • Advice on sector specific terms and conditions of employment, including company policies
  • Advice on and assistance with sector-specific termination procedures, both in the case of individual dismissals and workforce reorganisation
  • Advice on and assistance with negotiating and preparing company collective bargaining agreements (e.g. on flexible working time schemes)
  • Drafting of sector-specific employment documentation
  • Advice on and assistance with the structuring of in-sector employment
  • Assistance with executive compensation arrangements

Data & privacy protection

  • Review of the data protection set-up of insurance companies and intermediaries
  • Drafting and reviewing customers’ information and/or consent clauses
  • Notifications to the Belgian Privacy Commission
  • Drafting and reviewing “data processing agreements” between insurance companies and intermediaries and their sub-contractors
  • Drafting and reviewing the privacy policies of insurance companies and intermediaries
  • Drafting and reviewing the cookie policies of insurance companies and intermediaries

Dispute Resolution

  • Insurance coverage disputes (mediation, court proceedings and arbitration)
  • Underlying liability claims, direct actions and mass-tort situations
  • Reinsurance disputes
  • All types of insurance policies, such as professional indemnity, product liability, property, business-interruption, D&O liability, the public offering of securities, construction (all risk).


Download the Insurance fact sheet

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