Brexit will have an impact on the insurance sector. The extent of the impact will depend on the negotiations between the UK Government and the EEA. An important question is whether the passporting system will be continued. This system allows UK insurers, reinsurers and insurance intermediaries to underwrite insurance policies and provide insurance services in the EEA and EU insurers, reinsurers and intermediaries to conduct insurance business in the UK.
Insurers, reinsurers and insurance intermediaries who want to continue to have access to the UK or to the EEA market will need to consider:
The timing is March 2019. Therefore we recommend that insurance businesses engage now in an exercise of identifying issues and considering options related to Brexit.
If you have any questions, send us an e-mail (email@example.com)
or contact Sandra Lodewijckx, + 32 2 787 90 33 or firstname.lastname@example.org
or Hugo Keulers, + 32 11 26 00 40 or email@example.com