Thursday, April 26, 2018

China, India priority markets for UK insurers after Brexit

According to the Association of British Insurers (ABI), India and China are the two nations that are the priority in non-EU markets for Britain when it leaves the European Union next year.

Britain is expected to seek bilateral trade deals as soon as possible to ensure those two countries will relax restrictions on foreign ownership in the insurance sector.

The finance ministry and Department for International Trade in Britain have been offered by ABI a template for handling financial services that can be inserted into trade deals.

Such a template is part of efforts made by insurers that are facing growing concerns that they may be overshadowed by the needs of the banking industry during and after Brexit.

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