The prospect of Brexit raises a number of interesting and complex issues for the insurance sector. We are considering with our clients the challenges and opportunities that face them and helping them to attain the optimum position for their businesses in the post-Brexit world.
Hogan Lovells has one of the leading insurance practices in the world, providing advice on regulation, M&A, dispute resolution and commercial matters such as reinsurance, outsourcing and distribution arrangements. We offer our clients an exceptional platform for advice and support on highly complex issues.
We advise in all of the main segments of the insurance industry, including life and general insurance, Lloyd’s of London, and run-off and consolidation businesses, and in relation to all forms of insurance products. With more than 220 lawyers with in-depth knowledge of the insurance industry located in Europe, the USA, Asia, the Middle East and South Africa, we are one of the few insurance practices that can offer a truly global perspective.
Of particular note, our corporate and regulatory insurance team has a wealth of knowledge and experience it can bring to bear upon the myriad issues presented by an impending Brexit. Our in-depth cross-jurisdictional expertise puts us in an excellent position to advise on matters such as group restructuring, regulatory compliance, EEA market access (passporting), access for EEA firms to the UK insurance market and Solvency II equivalence.
Since the referendum we have been working with clients and industry bodies to develop thought leadership on the impact of Brexit across the insurance and financial services sector and to provide a practical, factual legal context to support policymakers in shaping their priorities and clients in preparing contingency plans.
Most recently, we have been involved in producing a report with TheCityUK and The City of London Corporation's co-sponsored International Regulatory Strategy Group on the 'EU’s Third Country Regimes and Alternatives to Passporting', which was published on 23 January 2017. We have also produced a note exploring the key differences between passporting and equivalence regimes to help identify the areas where the equivalent regime falls short of the current market access offered by passporting.
Following the referendum we produced a Bulletin highlighting some of the key issues Brexit poses for the insurance sector. Since then we have held a series of webinars considering the impact of Brexit on UK and European insurance businesses and the potential impacts of Brexit for the mutual insurance sector.
We will be producing further content as the UK's Brexit policy develops, so please continue to check back on this page.
You can also send any questions to FISBrexit@hoganlovells.com