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Insurers’ six-point plan for Brexit

Insurers’ six-point plan for Brexit

If the UK loses passporting rights, how will insurers here and across the EU27 continue to sell insurance products in the other market?

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Insurers’ six-point plan for Brexit

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:

  • Start off by thinking big;
  • Know your options;
  • Be realistic about your restructuring timetable. 

Read the full Insurers' six-point plan for Brexit report.

You can also download our KPMG insurance Brexit navigator

Brexit insurance navigator - illustration of a boat

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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