Five months from the deadline for the UK government to submit its final draft of plans to leave the European Union to the European Council, we’re anticipating a transitional period of up to two years starting in March 2019. If there’s anything we’ve learnt in the current climate and as a company in the business of managing risk, it’s that nothing is certain. As such, we’re preparing for all scenarios, as you'll see in this webinar, recorded on 31 May 2018.
All bases covered
It remains too early to know the exact nature of the final Brexit deal, and so to some extent, we are navigating unchartered waters.
What we can say with complete certainty to our commercial customers, brokers and other partners, is that RSA is firmly committed to delivering first-class products and services and ensuring continuity of service in the coming months and years.
In the short term, a so-called ‘hard Brexit’ (where the UK exits both the single market and the customs union) requires the most internal consideration as to how RSA will operate in the future. Therefore, we’re preparing for this outcome to ensure we continue to maintain and improve service delivery come what may.
Moving the legal entity for our European businesses from RSA Insurance PLC based in the UK to RSA Luxembourg via a Part VII Transfer in early 2019 will ensure continuity of service for our customers and brokers.
This will involve employing a small number of senior roles in our Luxembourg base, including the head of our continental European business, Richard Turner, who moves from our group headquarters in London.
“What we can say with complete certainty to our commercial customers, brokers and other partners, is that RSA is firmly committed to delivering first-class products and services and ensuring continuity of service in the coming months and years.”Tony Buckle Managing director, RSA global risk solutions
Business as usual
To our customers and brokers, there will be no change to how you interact with our teams across Europe. That means no change in terms of our risk appetite, products and claims or risk consulting services, and a continued commitment to improving our offerings in these areas. RSA will continue to service our commercial customers and develop new solutions.
Our continental European businesses, which sit within RSA global risk solutions, are core to our overall business and we’re committed to providing continuity of service to all customers and partners.
Part of this commitment is to be clear about our Brexit preparations and to support all of our partners in navigating this period as best we can. Download our Brexit FAQs for commercial customers (PDF) for more information.