Challenges for the Insurance Industry
30 Mar - 31 Mar 2017
Implications of Brexit for the insurance industry
Thursday 30 March (0900 - 1030)
European Regional Forum
Given the scale and global reach of the London insurance market, the effects of Brexit on it are, potentially, more profound than for other parts of the financial services sector. Lawyers will play a key role in helping the insurance industry to navigate the many challenges posed by Brexit. This panel will discuss what, in practical terms, Brexit will mean for the UK insurance industry. • What is the difference between passporting and equivalence? • What type of contingency planning is being undertaken and to what extent are plans already being implemented? • Which jurisdictions are UK insurers and reinsurers considering as an alternative EEA base in the event of loss of existing passporting rights and what are their pros and cons? • What are the main structuring options for insurers and reinsurers establishing an alternative EEA base? • Will the life sector cope more easily than the non-life sector? • How are the challenges for the reinsurance sector different? • What does Brexit mean for implementation of and compliance with current and forthcoming EU directives and regulations? • What should UK insurers and reinsurers be doing now?