National competent authorities (NCAs) in the European Union have agreed to comply with recommendations from the European Insurance and Occupational Pensions Authority (EIOPA) regarding the United Kingdom’s withdrawal of the EU. EIOPA aims for a smooth Brexit transition in insurance EIOPA outlined a set of nine recommendations in January 2019, addressing them to all national regulators within the European Economic Area (EEA), excluding the UK. “The general objective of these recommendations is to foster convergence and consistent supervisory approaches in the treatment of UK insurance undertakings,” it wrote at the time. Among the recommendations were a period of orderly runoff,…
European regulators conform to EIOPA’s post-Brexit insurance recommendations
European regulators conform to EIOPA’s post-Brexit insurance recommendations
