July 29, 2019 / 9:29 AM / a month ago

Insurance body calls for "equivalence" access to EU reinsurance market after Brexit

LONDON, July 29 (Reuters) - Britain should seek “equivalence” based market access to the European Union for the reinsurance market after Brexit, insurance lobby group London Market Group (LMG) said on Monday.

There was little appetite among its members for “regulatory upheaval” after Brexit, the group, which represents commercial insurers in the Lloyd’s of London market and elsewhere in Britain, said in a Brexit update.

It said the consequences of a no-deal Brexit would be “significant”.

Reporting by Carolyn Cohn, editing by Huw Jones

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