Brexit: Implications for the Insurance and Reinsurance Industry.

This article sets out how UK and EU insurance, reinsurance and insurance intermediary firms and branches may be able to access each others' insurance and reinsurance markets after Brexit. It considers the alternatives of a "hard" Brexit and an EEA/EFTA route, and sets out applicable equivalency regimes for third-country access. We conclude that workable solutions for cross-border access should, in principle, be available in each scenario. Equivalency regimes for reinsurance are extensive, but those for direct insurance are partial. Gaps in equivalency regimes for insurance mediation and some aspects of direct insurance (e.g. customer access) would best be plugged for the benefit of UK and EU insurance businesses generally. [ABSTRACT FROM AUTHOR]