General Insurance Article - ABI calls for implementation period following Brexit


ABI Director General Huw Evans asks the UK Government to make a clear commitment to seek an early agreement with our European partners on a high level transitional implementation period following Brexit

 Speaking at Insurance Ireland’s INED Seminar 2016 in Dublin this afternoon, Evans is also due to warn that without this commitment UK insurers most affected by Brexit could be forced to take decisions to leave the UK before a final Brexit deal is clear.

 Huw Evans will say: ”Underpinning our five key asks on Brexit is a sustained focus on the need for an implementation period which stretches from the end of the UK's membership in 2019 to a period when the new relationship can be broadly established. Not only will this be a sensible way of delivering such a momentous change for both sides, if agreed early it provides the option for the firms most affected by Brexit not to take swift decisions in 2017 on scaling back UK operations.

 “We call on the Government to make a clear commitment that it will seek an early agreement with our European partners on a high level transitional implementation period which will help avoid economic shocks to both the EU and UK. This is in both sides’ interest, would not be a sign of negotiating weakness and is essential if we are to maximise the smooth running of the financial system after 2019.

 “Without such a commitment there is little incentive for insurers considering relocation to take a longer term view on whether to press ahead with a decision.”

 The five key asks agreed by the ABI Board and set out in September 

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.