Q&As

I have heard of many insurers selecting alternative European destinations for their headquarters such as Luxembourg, Brussels, Dublin and others. With the exit of the UK just 18 months away, what should UK insurance companies be doing now to ensure they can continue to trade throughout Europe if they haven’t already triggered their contingency plans? What are the options? What risks do they run if they do not act now? Can companies ‘wait and see’?

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Published on LexisPSL on 31/10/2017

The following Insurance & Reinsurance Q&A provides comprehensive and up to date legal information covering:

  • I have heard of many insurers selecting alternative European destinations for their headquarters such as Luxembourg, Brussels, Dublin and others. With the exit of the UK just 18 months away, what should UK insurance companies be doing now to ensure they can continue to trade throughout Europe if they haven’t already triggered their contingency plans? What are the options? What risks do they run if they do not act now? Can companies ‘wait and see’?

I have heard of many insurers selecting alternative European destinations for their headquarters such as Luxembourg, Brussels, Dublin and others. With the exit of the UK just 18 months away, what should UK insurance companies be doing now to ensure they can continue to trade throughout Europe if they haven’t already triggered their contingency plans? What are the options? What risks do they run if they do not act now? Can companies ‘wait and see’?

Unfortunately there is no clear answer to this question.

It is the intention of the UK government that their current negotiations with the EU Commission will result in a new agreement replacing all of the arrangements under which companies and individuals undertake economic activity across national borders within the EU, including in insurance markets. However, the negotiations have not yet

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