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A.M. BestTV: Insurers Are Pursuing a Range of Post-Brexit Plans, Says A.M. Best Senior Director

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In this A.M.BestTV episode, Catherine Thomas, senior director
of analytics, A.M. Best, said insurers are creating subsidiaries,
building new relationships and transferring liabilities in an effort to
prepare for possible outcomes depending on how Brexit proceeds. Click on http://www.ambest.com/v.asp?v=brexit818
to view the entire program.

Thomas addressed how companies are handling Brexit.

"Over the past year, in the absence of any real clarity as to what a
future trade deal will look like between the United Kingdom and the
European Union, U.K. insurers are really accelerating their plans to
establish additional subsidiaries in the other EU countries," said
Thomas. "U.K. insurers that are currently using passporting rights to
access EU business are taking more seriously the potential issue that
they will not be able to service claims on existing EU policies after
Brexit."

Thomas also highlighted the factors that are playing into where a
company is choosing to establish a subsidiary.

"The reasons for insurers choosing a particular domicile are very much
driven by their own specific considerations. Such as proximity to
clients, availability of underwriting talent, whether they have an
existing operation in a particular location, the local tax regime and
the local regulator," said Thomas.

To access a copy of this briefing, titled, "Insurers Step up Brexit
Plans in Absence of Clarity," visit http://www3.ambest.com/bestweek/purchase.asp?record_code=276577.

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A.M. Best is a global rating agency and information provider with a
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. Visit www.ambest.com
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