Post-Brexit: here is what UK regulators have demanded

If you rely in the main UK media for your Brexit information you could be in for a few surprises.

UK regulators have demanded that every UK insurer now doing business in the EU/EFTA ,whether by passport or local subsidiary, and every EU/EFTA insurer doing business in the UK on a passport or full basis, must show them their contingency plan that covers all options including the nuclear one of a UK exit with no deals by July 2017.

Much will depend on what is negotiated, but do not believe the hype from either side. The core rule from the EU is very simple: non-members are not allowed to have deals equal to those that members have, and despite what British politicians may shout, that is non-negotiable.

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