Once the UK leaves the EEA, current passporting arrangements may no longer apply. Insurers will then need to find other means to secure market access.
Whilst negotiations are still taking place on the basis on which the UK will trade with the EU post-Brexit, ensuring continued access to the UK market remains a key concern. Current passporting arrangements for EEA insurers may no longer apply and while the post-Brexit rules are not yet confirmed, it is looking very likely that firms will have to comply with additional UK regulatory requirements to maintain access.
View our Update for EEA firms passporting into the UK to see what this means for you.
Paul Merrey, global partner the strategy group KPMG, speaks about Solvency II, freedom of people movement and passporting