Commenting on today’s announcement from HM Treasury of agreement being reached on a UK Switzerland deal on insurance after Brexit, Carol Hall, Head of European and International Affairs at the ABI, said:
“With many UK firms selling insurance direct from the UK into Switzerland it’s important this ability is preserved, and this deal does that. Switzerland is a major centre of insurance and we look forward to a wider and more ambitious agreement being developed in future to enable further mutually-beneficial business between the two important hubs of London and Zurich.”
More than a dozen firms, mainly London Market firms, currently sell insurance direct into Switzerland. In 2017, the UK exported £384m worth of insurance and pension services to Switzerland.