Analysis

‘Insurers will have to rely on brokers’ if post-Brexit tax changes come to fruition

By 2023-01-27T13:34:00

Brexit flags blue

Brokers could see changes to their admin workload and trading operations as a result of Brexit

After the UK leaving the European Union (EU) on 31 January 2020, the insurance industry is still grappling with the resultant regulatory and trading changes.

This includes the introduction of the Financial Services and Markets Bill, which was published in July 2022 - the bill aims to repeal EU laws that currently govern UK financial services firms, such as Solvency II requirements, and bolster the competitiveness of the UK as a global financial centre.

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