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Insurers brace for Brexit’s economic fallout, S&P Global Market Intelligence

Macroeconomic concerns, rather than political or regulatory ones, may be the biggest worry for insurers in the U.K. and Europe should Britain vote to leave the EU in just under two weeks.

A vote for "Brexit" could cost U.K. insurers direct access to a single insurance market of 500 million people. Complicated negotiations would follow a vote to leave, with insurers to face uncertainties over the Solvency II regulatory regime and access to markets outside Europe, among many others.

The U.K. insurance market recorded €257.2 billion in gross written premiums in 2014, the highest in Europe, and it is also a particularly active exporter. According to the Association of British Insurers, which is in favor of staying in the EU, the U.K. sells £21 billion more in insurance and long-term savings products to other EU nations than they sell to the U.K.

Next Finance , June 2016

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