ACE Insurance Advisers Ltd must be authorized and registered under which regulation when acting solely as an insurance intermediary?

• A. EU (Insurance Distribution) Regulations, 2018.
• B. Investment Intermediaries Act, 1995.
• C. MiFID Regulations.
• D. None of the above.

Answer: (A)

When someone acts only as an insurance intermediary, the regulatory framework that applies is the EU Insurance Distribution Regulations introduced in 2018, which transposed the Insurance Distribution Directive into national law. These regulations require an insurance distributor to be authorized and registered, and to meet ongoing standards for conduct, fairness, and financial protection of customers.

This regime specifically covers activities like advising on or arranging contracts of insurance, and it sets out the qualifications, fitness and propriety, and ongoing compliance obligations for insurers and brokers alike. The other options address investments rather than insurance: the Investment Intermediaries Act governs investment intermediaries, MiFID regulations cover investment services and markets, and “none of the above” isn’t accurate because the insurance distribution framework does apply.