Executive summary

Currently, EU/EEA (re) insurers can provide contracts to customers in the UK, and UK (re) insurers can provide contracts to customers in the EU/EEA, through passporting - ie across borders (freedom of services) and through local branches (freedom of establishment). After Brexit, passporting rights between the EU/EEA and the UK will cease. EU/EAA branches of UK-based (re) insurers will become third-country branches and vice versa.

The TF50 position paper “Essential principles on citizens’ rights” says that the Withdrawal Agreement should protect the rights of EU27 citizens, UK nationals and their family members who, at the date of entry into force of the Withdrawal Agreement, have enjoyed rights relating to free movement under Union law, as well as rights that are in the process of being obtained and the rights the enjoyment of which will occur at a later date, including, for example, pension rights. EU and UK citizens have rights under those contracts, and their

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