• Home
  •  
    News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • Middle East
    • North America
    • US
    • US
    • UK
  •  
    Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Mortgages
    • Taxation
  • Fintech
  • Regulation
  • Special Reports
  • Video
  • Directory
  • Events
  • Advertise with us
  • Newsletters
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Events
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • Special Reports
  • Video
  • Directory
  • Brexit

UK signs insurance free trade deal with Switzerland

  • Pedro Gonçalves
  • 25 January 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

The UK and Switzerland are to continue to trade freely within the insurance sector post-Brexit, as both countries inked a deal at the World Economic Forum in Davos .

According to HM Treasury, the new arrangement copies the current EU agreement with Switzerland and will come into force when UK exits the EU. The chancellor of the exchequer, Phillip Hammond, and the president of the Swiss confederation and head of the federal department of finance, Ueli Maurer,  signed the deal

Related articles

  • Switzerland to allow 3,500 work permits for Britons in case of no-deal Brexit
  • UK to provide healthcare coverage for expat retirees in EU
  • UK demand for Irish passports surges as Brexit nears
  • MPs back May's bid to change deal but EU says nothing has changed

The move follows on from the UK and the USA agreeing a text in December designed to ensure the insurance and reinsurance sectors can still trade freely with one another after Brexit.

A Reuters report said the deal will allow UK insurance companies and their Swiss counterparts to trade freely between the two jurisdictions - essentially replicating Switzerland's insurance deal with the EU, of which it is not a member but is part of the Single Market.

"Links to financial industries like the Swiss insurance market are important for global financial systems and it's vital that trade continues between our two countries so firms have the certainty they need to continue to do business and invest in the UK's bright future," the news agency quoted UK finance minister Hammond as stating.

Last month the British government and the Swiss Federal Council approved the transition of a post-Brexit trade agreement for goods and services.

This is the first of a series of meetings by UK officials in order to cement closer relationships with global financial markets as the UK prepares for a future outside of the EU.

Two more European Union states, Poland and the Czech Republic, have said they are preparing emergency laws to allow Britons to stay to work in their countries legally in the event of a no-deal Brexit.

The Czechs say their draft law will mean the estimated 8,000 Britons living in the country are exempt from normal immigration laws until the end of the December 2020.

The Polish government is drafting a similar law which will give the estimated 6,000 Britons in the country a year without having to change their status to immigrants from a third country.

The draft laws come after the authorities in Germany, France, Italy, Spain and the Netherlands sought to give last-minute assurances to anxious British nationals.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Brexit
  • Citizenship
  • UK
  • World Economic Forum
  • Davos
  • EU
  • HM Treasury
  • Brexit
  • Britons
  • Insurance

More From News

Generali concludes acquisition of Slovenian insurer Adriatic Slovenica

  • Business Development
  • 18 February 2019
Asset management M&A breaks 11-year record

  • Business Development
  • 18 February 2019
Cyprus gets tough on passport-for-investment scheme after EU criticism

  • Citizenship
  • 18 February 2019
UAE investors are choosing investment portfolios that align with their risk levels: Study

  • Investments
  • 18 February 2019
Rathbones makes changes to Luxembourg range ahead of Brexit

  • Funds
  • 18 February 2019
Back to Top

Most read

Panama outlaws tax evasion, as new blacklisting looms
Canadians anti-FATCA fight in court will be further appealed
Deutsche looks again at Middle East after years of cutting costs
DeVere Group acquires UAE-based wealth adviser
UAE regulator drafts commissions cap
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Privacy and Cookie policy
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters

© Open Door Media Publishing Ltd, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration number 08584522