Brexit deterring ILS sponsors from UK market: Experts

Industry experts said that Brexit-related uncertainty is deterring potential sponsors of insurance-linked securities from conducting transactions under the recently launched U.K. ILS regulatory and tax framework, Artemis.bm reports. Rob Cannon, special counsel at U.S.-based law firm Cadwalader, Wickersham and Taft L.L.P., said that ILS sponsors from the European Union are concerned that the United Kingdom could move away from the current Solvency II rules post Brexit.

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