UK - Over 2,700 brokers face significant risk
Friday, 09 23 2016, Category: Insurance and Reinsurance, Country: United Kingdom
The government has released figures showing Brexit’s potential scale of disruption in the UK’s insurance industry as more than 2,700 brokers face the “significant” risk of losing access to the EU single market.
Lawmaker Andrew Tyrie, head of Parliament’s treasury select committee, recently revealed data from the Financial Conduct Authority which showed that 5,500 British-based financial firms rely on “passporting” rights to operate freely across the EU.
Source: Insurance Business