A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
Even in the scenario of a full exit, assuming relevant equivalency decisions are taken by EU authorities for the UK, cross-border reinsurance should generally remain unaffected.
Even in the scenario of a full exit, assuming relevant
equivalency decisions are taken by EU authorities for the UK,
cross-border reinsurance should generally remain unaffected. Direct
insurance businesses should in principle be able to benefit from
certain equivalency arrangements as regards group solvency
calculations and group supervision requirements, but would not have
access to customers in the single market unless they establish a
local branch or subsidiary. Insurance sales, mediation and
distribution have no third-country access or equivalence regimes,
and so UK insurance sales firms will become subject to the national
regimes of EU states when marketing there. Were the UK to remain in
the EEA, all current passporting rights should be preserved.
Insurance businesses in the UK and EU should consider the impact of
Brexit and some of the potential structuring solutions discussed in
this note.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
