CICA Webinar: Brexit and its Impact on the Captive Insurance Industry
The effects of Brexit are expected to have broad implications for the world economy, including multinational enterprises with captive insurance companies or cell companies covering risks in the
Panelists
"The biggest impact of Brexit over the next few years will be the uncertainty of the outcome," says Mullen. "While the stock market has recovered since the initial vote, another market reaction is likely when Article 50 is invoked," he added. Even with the uncertainties around timing and degree of impact for the insurance industry Vincent emphasized that captives should understand how long it will take to execute their contingency plans once Article 50 is triggered.
Vincent and Mullen agreed that changes to passporting, which allows captive insurers to write business across the European Economic Area, is likely to have an impact on captive insurance companies and certain captive domiciles. "We'll discuss how captives outside of the
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Read the full story at http://www.prweb.com/releases/2016/09/prweb13719892.htm
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