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In response to the joint press conference by Brexit Secretary David Davis and the EU’s Brexit negotiator Michel Barnier, Nicolas Aubert Chairman of the London Market Group commented

In response to the joint press conference by Brexit Secretary David Davis and the EU’s Brexit negotiator Michel Barnier, Nicolas Aubert Chairman of the London Market Group commented

“We are very pleased that the announcement yesterday provides companies within the London Insurance Market with some reassurances about the landscape after we leave the EU. Undoubtedly both sides have made good progress, even though we recognise there are still issues to resolve. Today’s agreement reflects the LMG’s own proposals for a transition period which ensures continuity of trading between the UK and EU and we have mapped out how regulators could work together to make this agreement a reality.

 

“It is vital that our clients in both the EU and UK are able to maintain their access to a broad range of insurance services, expertise and capacity. Our hope is that this announcement can now lead to meaningful negotiations regarding a future mutually beneficial trading relationship, that is in the best interests of EU and UK consumers and businesses. We will continue to work to ensure these requirements form a vital part of any free trade agreement.

 

“We are grateful to all the market practitioners on our Brexit taskforce who have worked to make sure that the needs of our clients are a government priority, and to the government departments and officials who have worked so closely to understand and respond to those needs.”

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