FCA concludes review of the fair treatment of with-profits customers

The FCA’s thematic review of with-profits business has found “signs” that a small number of firms are in breach of its rules. Despite this, the FCA is not taking enforcement action against any of those firms. This is presumably because it has determined that, “in most cases” at least, there is no evidence of customer … Read more

EU guidance on “no-deal” Brexit suggests increased risk Hague Convention on Choice of Court Agreements won’t apply to exclusive English jurisdiction clauses agreed pre-Brexit

The post below was first published on our Litigation blog. As we have previously noted, there is some uncertainty over whether, following a “no-deal” Brexit, EU27 countries will apply the 2005 Hague Convention on Choice of Court Agreements where an exclusive English jurisdiction clause was agreed before exit day. This is sometimes referred to as … Read more

New decision tree on enforcement of English judgments in the EU27 post-Brexit

The post below was first published on our Litigation blog. Amidst the ongoing uncertainties in relation to both the nature and timing of Brexit, we have published a new decision tree on enforcement of English judgments in the EU27 post-Brexit. It is intended to act as a quick reference guide to help determine which rules will … Read more

FCA Brexit guidance – too little, too late?

With a month to go until the UK is due to leave the EU, FCA guidance published yesterday is too late for most UK insurers and intermediaries to change their plans.  Understandably, the FCA has waited for views to be expressed by EIOPA before commenting itself on the position for insurers and brokers.  It took … Read more

EIOPA issues Brexit advice – some good news for UK insurers and intermediaries?

Recommendations issued on Tuesday by EIOPA emphasise the importance of safeguarding policyholders in the event of a “no deal” Brexit.  Encouragement given to EEA states to help UK insurers meet their obligations to EEA policyholders is particularly welcome. In some areas, EIOPA has provided explicit guidance on the approach it expects individual states to take.  For example, … Read more

Myanmar’s insurance sector opens to foreign insurers

In a long-awaited step forward for the Myanmar insurance sector, on 2 January 2019, the Ministry of Planning and Finance (MPF) officially announced its plans to open up the life and non-life insurance sectors to foreign insurers. Further details of the liberalisation, including the insurance licence application process and timetable, were subsequently issued by the … Read more