Brexit: Losing passporting rights could force insurers to restructure
The loss of these rights could see insurers being forced to restructure and face large operational, regulatory and tax costs as they adapt to such a change.
Losing passporting rights could see insurers being forced to restructure and would lead to large operational, regulatory and tax costs as they adapt to such a change, PwC has warned.
Britain voted to break out of the European Union, with 17.4m people opting to leave the bloc.
Jonathan Howe, UK insurance leader at the consultancy, said: "The Lloyd's and London Market and general insurance market make extensive use of passporting. The loss of these rights could see insurers being forced to
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