IUA media comment on post-Brexit regulation of insurers

Associations, Insurance and Reinsurance, IUA, Marine Insurance — By on December 20, 2017 at 5:44 PM

Dave Matcham

Please see below an IUA comment on today’s PRA, FCA and HM Treasury announcements relating to authorisations and permissions for insurers post-Brexit.

Dave Matcham, chief executive of the International Underwriting Association welcomed news of the UK regulator’s intention to accommodate branches of EU insurers post-Brexit.

He said: “This is a very welcome announcement for many IUA members. The London company market has a significant number of firms operating as branches of parent companies located elsewhere in the EU. Our recent London Company Market Statistics Report estimates premium totalling £7.383bn was generated by such business models in 2016.
“The move to enable this business to continue without any unnecessary, additional regulatory barriers post-Brexit is a very positive step and demonstrates great confidence in our sector.”

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