UK brokers given unique access to Swiss market with new agreement

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The Government has signed a joint financial services agreement with the Swiss authorities that will allow UK insurance brokers to continue to trade in Switzerland without the need to establish a base there.

Chancellor Jeremy Hunt yesterday signed the Berne Financial Services Agreement, described as “a first of its kind pact on financial services cooperation”, with his Swiss counterpart Karin Keller-Sutter.

The agreement secures unique access for British insurance brokers to the Swiss market. 

From the start of 2024, Switzerland will require any non-Swiss firms to establish a base in the country before serving Swiss clients. 

Significant advantage 

However, the UK will be the only country in the world

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