Insurers wrestle with Emir reporting challenge

Legacy systems and guidance 'failure' add to challenge as deadline passes

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Given the crucial role that derivatives play in managing the risk of the insurance industry, few European insurers have been able to ignore new rules on reporting derivatives trades, which entered into force on February 12. But not everyone has been prepared for the requirements, and a last-minute sprint to the finish has put trade repositories under pressure. This latest raft of legislation, which is part of the European Union’s European Market Infrastructure Regulation (Emir), require