In the absence of any EU/UK agreement on transitional arrangements, once the UK leaves the EU, UK firms will lose their right to pursue business in other EU Member States using an EU passport.
Although we are unable to provide guidance on the regulatory requirements applicable in other EEA countries, we have recently received a notification from the Irish regulator (Central Bank of Ireland) about its proposals for a temporary run off regime for business falling within the scope of the Insurance Distribution Directive (IDD).
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