The Irish insurance business has recently experienced
Brexit-related developments.
EU-UK Trade and Cooperation Agreement and the (Re)insurance
Sector
The signing of the EU-UK Trade and Cooperation Agreement (TCA)
on 30 December 2020 gives greater clarity on the new relationship
between the UK and the EU27 Member States, including Ireland. The
TCA means that there is now certainty on trading arrangements
across a range of sectors. However, it does not contain much of
significance for (re)insurance or financial services
generally.
The statements in the TCA about a framework for regulatory
cooperation to be agreed by March 2021 between the EU and the UK