Question to the HM Treasury:

To ask Her Majesty's Government what assurances they have given regarding the future of long-term insurance contracts in the light of Brexit.

The government recognises the issues the UK’s departure from the EU creates for firms ability to service long-term contracts in force at EU exit. We are considering in particular risks arising from any change of passporting arrangements and the impact on cross-border contracts, including long-term insurance contracts.

Much of the detail of these arrangements remains a matter for the EU exit negotiation process, but we will continue to provide information to help firms deal with the challenges and take advantage of the opportunities as we move towards our future relationship with the EU.