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 by a ÀÏ˾»úÎçÒ¹¸£Àû Insurance & Reinsurance expert
Published on: 31 October 2017
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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 moved on to discuss the specifics of those new arrangements.

The new form for civil judicial cooperation—covering rules on which country’s courts have jurisdiction in particular disputes, and whether judgments can be recognised and enforced cross-border—is one of the most important issues for all firms,

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Jurisdiction(s):
United Kingdom
Key definition:
Exit definition
What does Exit mean?

Exit refers to the ways in which the investors exit from the transaction and thereby realise their investment.

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