Key takeaways

• One month on from the United Kingdom’s Brexit referendum, we reflect on the current knowns and unknowns and take stock of the likely medium- to long-term impacts on the insurance industry.
• We set out the key planning and practical steps that re/insurance companies could be taking now, including in respect of capital requirements, investment strategy and the transferability of contracts for restructuring purposes.
• Market participants value certainty and may need to make decisions before the full effects of Brexit become clear.
• We outline some of the immediate effects the referendum result has had on re/insurers, including as a result of fluctuating currencies, market volatility and continuing low interest rates.
• The loss of passporting and regulatory divergence could be among the long-term changes insurance companies will have to respond to.