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Brexit for Re/Insurers: One Month On
1 August 2016
View Client Update
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.
Alexander R. Cochran
E. Drew Dutton
Thomas M. Kelly
Nicholas F. Potter
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