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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
On September 23, 2020, the Equator Principles Association released a series of guidance notes to support the implementation of the updated Equator Principles (EP4), which came into full effect on October 1, 2020.
Among other revisions, one of the key updates that appears in EP4 is the additional guidance it provides regarding stakeholder engagement with Indigenous Peoples (which is a defined term) and the concept of Free, Prior and Informed Consent (FPIC). These changes are something that stakeholders in Designated Countries, including Canada, will want to be aware of and ready for in the context of project financing to which EP4 now applies.
While each project may require its own full assessment, this publication provides a high-level benchmarking of the requirements of IFC Performance Standard 7 against Canadian law, as it relates to engagement with Indigenous Peoples. This comparative analysis reveals that overall, there is substantial alignment between most of the key elements and goals of IFC Performance Standard 7 and Canada’s legal framework, and Canada’s legal framework includes mechanisms through which many of the same goals and outcomes of IFC Performance Standard 7 and EP4 can be achieved. The guidance notes can be found here.
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It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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