Branches of third-country insurance companies are subject to authorisation. Except for insurance companies having their registered office in an OECD member state, the approval may be refused if reciprocity is not ensured by national law for Luxembourg companies.
"Chapter 9 - Right of establishment and freedom to provide services
Section 1 - Establishment of insurance companies
Art. 135 - Conditions for establishing a branch of a non-Luxembourg EEA insurance company in the Grand Duchy of Luxembourg
(1) Any insurance company having its registered office and authorized in another Member State may establish a branch in the Grand Duchy of Luxembourg after the competent authority of the State of origin has sent a notification to the CAA.
[...]
Chapter 10 - Branches established in the Grand Duchy of Luxembourg and belonging to insurance or reinsurance undertakings whose head office is located outside the EEA
Section 1 - Direct insurance
Art. 159 - Principles of approval and conditions
(1) The exercise by any insurance company of a third country of a direct insurance activity in or from the Grand Duchy of Luxembourg is subject to obtaining prior authorization. [...]
Except for insurance companies having their registered office in an OECD member state, the authorization referred to in paragraph 1 may be refused if reciprocity is not guaranteed by their national legislation to Luxembourg companies.
[...]
Section 2 - Reinsurance
Art. 167 - Principles of authorization and conditions of practice
(1)The establishment by any reinsurance undertaking in a third country of a branch in the Grand Duchy of Luxembourg must obtain the approval of the CAA, before the branch begins its reinsurance activities in the Grand Duchy of Luxembourg or from of it.
Except for companies having their head office in an OECD member state, the approval referred to in paragraph 1 may be refused if reciprocity is not guaranteed by their national legislation to Luxembourg companies. [...]" (Law of 7 December 2015 on the insurance sector, Mém. A229 of 09/12/2015; last amended by Law of 21 July 2021; Articles 135, 159 and 167 [google translation])
Law of 7 December 2015 on the insurance sector, Mém. A229 of 09/12/2015; last amended by Law of 21 July 2021; Articles 135, 159 and 167
[<a href="https://legilux.public.lu/eli/etat/leg/loi/2015/12/07/n1/jo">Law</a>]