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International

German financial regulator asks UK insurers for contingency plans post Brexit

October 31, 2017 Reprints

Germany's financial services regulator Bundesanstalt fur Finanzdienstleistungsaufsicht is seeking details of the contingency plans being made by U.K.-based insurers ahead of Brexit, Out-Law.com reported citing Financial Times. Bruno Geiringer, insurance law expert at U.K.-based law firm Pinsent Masons L.L.P., said that the passporting rights, which allow U.K. insurers to underwrite risks in the European Economic Area, would come to an end in March 2019. Mr. Geiringer said that European insurers doing business in the United Kingdom will also lose passporting rights post Brexit.

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German financial regulator asks UK insurers for contingency plans post Brexit

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