Emma RadmoreAt the World Economic Forum in Davos, the Swiss and UK governments signed a deal to allow both countries to trade freely within the insurance sector post-Brexit.
The agreement will come into force when the current EU-Swiss insurance agreement ceases to apply to the UK. The agreement will replicate the effects of the existing EU-Swiss insurance agreement, meaning firms can branch into each other’s jurisdiction with greater ease owing to mutual recognition of each other’s insurance regulations.
This follows HM Treasury announcing in December 2018 that the terms of the US-UK Agreement with the US Department of the Treasury and the Office of the US Trade Representative had been agreed. Similar to the above, this arrangement ensures continuity of the effects of the existing EU agreement with the US, subsequent to the UK leaving the EU.