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ARTICLE · 27 JULY 2016

Brexit – Implications For The ILS Market

Walkers
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Walkers

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On 23 June 2016, the UK took the historic decision to leave the European Union. In general, from an Irish perspective, it was an unexpected and regrettable outcome for our closest neighbour and our most important trading partner.

IrelandCorporate/Commercial Law
Walkers
Walkers
Ken Foley
Ken Foley
Noeleen Ruddy
Noeleen Ruddy
Ailís Garvey
Ailís Garvey
Jonathan Sheehan
Jonathan Sheehan
Andrew Traynor
Andrew Traynor
Therese Redmond
Therese Redmond
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On 23 June 2016, the UK took the historic decision to leave the European Union. In general, from an Irish perspective, it was an unexpected and regrettable outcome for our closest neighbour and our most important trading partner.

While the impact of Brexit is expected to be profound on the Irish economy, the departure of the UK from the EU will bring opportunities for Ireland in some contexts, particularly for the Irish financial services industry. As a niche part of this industry, we expect the advent of Brexit will not have a significant impact on the insurance linked securities (ILS) sector and will, if anything, assist in consolidating Ireland's position as the jurisdiction of choice in Europe for ILS transactions.

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