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The rethink comes just weeks into Brexit proper and vindicates longstanding concerns that regulators would change initial arrangements for the Brussels hub. -
The CFO said the new access point for investors would not be used to inflate Lloyd’s capacity and dampen returns in the market.
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Justice Secretary Robert Buckland says the one-month hold-up is a response to stakeholder lobbying.
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Intermediaries surveyed were split on whether the pandemic had a negative or neutral effect on business.
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The central bank governor reiterates his opposition to the UK becoming a rule taker.
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The relative amicability of the breakaway is probably more significant for the insurance sector than the content of the 1,264-page agreement itself.
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Existing contracts written by UK and Gibraltar entities should be scrapped where possible, while companies with portfolio transfers in train gain leeway.
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The Zurich UK chief leaves as she prepares to take up a new role at the helm of the carrier's Asia Pacific arm.
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Germany is among other jurisdictions to have prolonged the life of similar schemes.
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The goods-focused pact includes a joint declaration on financial services, though crunch issues have yet to be resolved.
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Founding CIRCA members include Greenlight Re and Barents Re, as well as Knighthead and Nassau Re, whose senior executives take chair and vice chair roles.
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The regulator said that the Own Risk Solvency Assessment should take account of Covid-19.
