Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what progress he has made on replicating the insurance agreements that the EU has with third countries that enable reciprocal arrangements for insurers to open agencies and branches in third countries after the UK has left the EU.

As agreed at the March European Council, during the implementation period the UK is to be treated as a Member State for the purposes of international agreements. This includes the insurance agreements that the EU has with third countries. This provides certainty and confidence that there will be no disruption to existing relationships underpinned by international agreements.

We are engaging with partner countries to plan for continuity of the effect of existing agreements, for example the EU-Swiss and EU-US agreements, adjusted appropriately to reflect our departure from the European Union.