Find out more about what this means for you with our Frequently Asked Questions (FAQs) below
Chubb’s primary underwriting operation in the UK and Europe is Chubb European Group SE (“CEG SE”). On 1 January 2019 CEG SE successfully redomiciled from the UK to France and now operates under the supervision of the French regulator ACPR. The UK branch of the Company continues to be subject to limited regulation by the Financial Conduct Authority. CEG SE has branch offices across Europe and holds cross border permissions throughout the EEA.
At the end of the Transition Period, the UK branch of CEG SE will benefit from the UK Government’s Temporary Permissions Regime. This allows Chubb to operate in the UK and continue to write business in the same way as it does now.
The Temporary Permissions Regime will be in place for up to three years from the end of the Transition Period. During that time CEG SE will establish a third country branch in the UK. The UK branch will be authorised by the Prudential Regulation Authority while also remaining part of the same legal entity CEG SE. This will enable CEG SE to continue to operate in the UK beyond the expiry of the Temporary Permissions Regime.
CEG SE has developed a simple and effective Brexit structure that means minimal disruption for brokers, customers and our business partners. This structure is already operational and ensures continuity of service in the UK and EU throughout the remainder of the Brexit process. In essence CEG SE will continue to issue one policy covering UK and EU risks.