EIOPA’s opinion on the impact of Brexit on the solvency position of (re)insurers

EIOPA has published an opinion paper focusing on the impact of Brexit on the solvency position of the EU (re)insurers. It focuses on the scenario where the UK leaves the EU and is classified as a third country. The paper lists a number of issues which could affect the solvency position of EU undertakings if this particular scenario occurs, and it calls on National Supervisory Authorities to ensure that undertakings under their supervision are prepared for this scenario. This briefing note summarises the main points in the EIOPA paper.