Brexit will not create “regulatory nirvana”
Lloyd’s chief risk officer, Sean McGovern warns that leaving the EU could create “instability” and says an exit will not smooth regulation for insurance sector.
Lloyd's chief risk officer Sean McGovern said that a Brexit will not mean regulations are simplified for the insurance sector.
He commented: "Brexit does not offer a route to insurance regulatory nirvana. The UK regulatory system has been largely driven by domestic political and regulatory concerns since the financial crisis."
He also warned that, in the event of a Brexit, other countries may be less hungry to make deals with the UK. He explained: "We must recognise that, if the UK leaves the EU
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace