Insurance assets exit for Brexit

UK life insurer Aviva has asked the High Court for permission to move its €9bn assets to the EU due to Brexit. The company says it wants to shift life-insurance policies held by non-UK policyholders to its Ireland unit.

Aviva was earlier granted permission to transfer $1.3bn in general policies.

 According to the company, “2019 is likely to see upheaval that could have a deep impact on [insurance brokerage} businesses – from changes to their supply chain to potential tariffs and uncertain exchange rates.”

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