Mr Gavin Williams

Gavin Williams

Updates

Insurance

PRA and FCA clarify impact of Brexit transition for insurance sector
United Kingdom | 24 April 2018

Recent announcements made by the Prudential Regulation Authority and the Financial Conduct Authority have clarified their approach to Brexit following the European Council's agreement to a transition period for the United Kingdom's withdrawal from the European Union. Insurers, insurance intermediaries and other financial services firms have been encouraged to assume that they will continue to benefit from passporting rights until December 2020. While this is welcome, firms cannot be complacent.