Introduction
In June 2016, the British electorate voted to leave the European
Union (the "EU") by a margin of 52% to
48%. What followed amongst the political fall-out and
recriminations was a turbulent market reaction with the Euro and
the Pound Sterling falling to historic lows against the US Dollar
and global stock markets losing approximately USD 2 trillion in the
days immediately following the vote.
The global economy has stabilised in the interim period and the
process of understanding what the implications of Brexit will be
across various financial sectors has begun. Following recent
announcements by the UK Government on the approach it intends to
take in the upcoming Brexit negotiations, this article will explore
the likely implications this will have on the UK insurance industry
and the options available to UK insurers who wish to establish in
Ireland to deal with the fall-out from Brexit.
