EU firms will be able to continue passporting into the UK if the Brexit transition period is canned, according to the Financial Conduct Authority (FCA) which spelled out its backup plan on 25 July.
The head of the Association of British Insurers has warned that 38 million individuals living in the EU could have their UK pension and life policy payments deemed “illegal” if no Brexit deal is reached.
Services have bolstered UK GDP growth less than a week after Prime Minister Theresa May outlines plans to pursue a Brexit trading relationship with the European Union focused on goods.
Cross border insurance products sold in Europe could benefit from a Brexit clause drafted by the International Underwriters Association (IUA), giving some insurers peace of mind amid the uncertainty of the UK leaving the EU.
Life companies based in the EU counting on the UK dependent territories to help them to continue servicing existing UK policyholders need to think again, warns Acuity Consulting’s Simon Willoughby.
If they don’t heed the stark warning from the European Commissions about the legal repercussions of Brexit, asset managers in the UK are at risk of being shut out of the European market, warns Brendan Adams, managing director, VAM Global Management Company.
Polar Capital has confirmed a raft of changes to the business, including the opening of a Paris location, as it looks to expand its European presence in light of Brexit uncertainties.
UK prime minister Theresa May shocked many political observers when she promised a £20bn ($26.4bn, €22.8bn) funding boost for the National Health Service (NHS) by 2023 last weekend raising the question of how to pay for it.
The government of Gibraltar and HM Treasury are looking for a consultant to undertake a “diagnostic review” of the overseas territory’s insurance regulatory regime.
The FTSE 100 hit an all-time high this week and long-held bearish sentiment towards UK equities appears to be turning, but can wealth managers see domestic stock market opportunities through the fog of a poorly-performing economy?
Fund manager M&G Investments is planning to transfer £34.2bn (€38.9bn, $46.2bn) of non-sterling assets to Luxembourg ahead of the UK’s exit from the European Union.
Legal & General Investment Management (LGIM) has been given the green light for its Brexit plans for European Union clients from the Irish regulator.
