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Insurance

17 March 2020
Geoffrey Maddock Brexit – PRA issues guidance to insurers with legacy business

United Kingdom - Herbert Smith Freehills LLP

​The Prudential Regulation Authority recently published guidance for UK insurers on their ability to service EEA liabilities once the Brexit transition period comes to an end on 31 December 2020. Arguably, the guidance is consistent with the view that 'expat business' (ie, where policies were written in the United Kingdom but the policyholder subsequently moved to the European Economic Area) can continue to be serviced from the United Kingdom without an EEA authorisation.

Authors: Geoffrey Maddock, Barnaby Hinnigan, Alison Matthews, Grant Murtagh
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