News Asia28 Jun 2016

Australia:QBE says Brexit may require revised approach to European business

28 Jun 2016

The UK's shock referendum decision to leave the EU may require a revised approach in relation to approximately GBP500 million (US$664 million) of insurance and reinsurance premiums that QBE currently sources from EU member countries that is written via branches of UK regulated entities under current EU passporting rules, said the Australian insurer. Still, it added that it does not expect any material impact on daily insurance operations despite Brexit.

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