Dave Matcham
Please see below an IUA comment on today’s PRA, FCA and HM Treasury announcements relating to authorisations and permissions for insurers post-Brexit.
Dave Matcham, chief executive of the International Underwriting Association welcomed news of the UK regulator’s intention to accommodate branches of EU insurers post-Brexit.
He said: “This is a very welcome announcement for many IUA members. The London company market has a significant number of firms operating as branches of parent companies located elsewhere in the EU. Our recent London Company Market Statistics Report estimates premium totalling £7.383bn was generated by such business models in 2016.
“The move to enable this business to continue without any unnecessary, additional regulatory barriers post-Brexit is a very positive step and demonstrates great confidence in our sector.”
