Though the Brexit transition interval ended on 31 December 2020, insurers have been insulated from the total influence of the UK’s withdrawal from the EU throughout 2021. That is set to vary in 2022. PRA and FCA concessions to companies affected by Brexit fall away from 31 March 2022 and most companies which might be at the moment within the UK’s Momentary Permissions Regime might want to transition to full authorisation as soon as notified of their “touchdown slot”.
Solvency II reforms can now even be launched within the UK with out regard to the constraints of EU membership. Change on this entrance is probably going this 12 months. The EU has additionally been Solvency II reforms since its 2020 overview.
To learn our full article discussing future adjustments to the Solvency II regime within the UK and the EU, please click on right here.
This text was first revealed on Thomas Reuters Regulatory Intelligence.
Alison Matthews
Advisor, London
+44 20 7466 2765
