Reinsurers ask EU for mutual access with Britain
Wednesday, 06 28 2017, Category: Insurance and Reinsurance, Country: Europe
Global reinsurers have written to the European Commission (EC) to ask it to ensure mutual access between British and European Union reinsurance markets after the UK leaves the bloc due to worries about market disruption, according to extracts from a letter seen by Reuters.
Britain and the EU recently started talks on the terms of their divorce in March 2019.
Brexit risks an end to so-called passporting rights, through which financial institutions are able to sell their services across the EU without locally regulated operations.
Source: Intelligent Insurer