If the UK loses passporting rights, how will insurers here and across the EU27 continue to sell insurance products in the other market?
The clock is ticking for UK insurers, with Article 50 now triggered and the country’s exit from the EU less than two years away. Firms urgently need to understand what they need to do, how and by when – particularly as the Prudential Regulatory Authority (PRA) has just written to all insurers operating in the UK, requesting details of their contingency plans by mid-July.
This article sets out a six-point plan for insurers to make sure they’re fully prepared for Brexit. It explains who is likely to be most affected and the priorities for firms to consider in order to help ensure they will thrive after the UK leaves the EU.
Highlights from our Insurers' six-point plan for Brexit report include:
Read the full Insurers' six-point plan for Brexit report.
You can also download our KPMG insurance Brexit navigator.