Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Fri, 07/22/2016 - 09:41
by Esha Vaish and Noor Zainab Hussain of the Insurance Journal

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc.

Insurers are making contingency plans after Britain’s vote last month to leave the EU left them facing the risk they could lose “passporting” rights that enable them to sell their products throughout Europe.

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