The vast majority of our customers’ policies will not be affected by Brexit.
Typically our customers insure their homes, farms, cars and much more in the United Kingdom, and customers with insurance policies for these UK risks won’t see any change to their cover.
A small number of our customers insure risks in the Republic of Ireland. There are some potential outcomes of the Brexit negotiations that might affect these policies. We don’t yet know how regulators in the European Union (EU) and European Economic Area (EEA) may decide to treat UK insurers and their customers once the Brexit process has been concluded. Once we know more about the situation we will communicate directly with customers who may be affected.
We also have some customers who live in the European Union on a permanent basis and have life insurance policies or annuities with us. Whatever the outcome of the Brexit negotiations we will always seek to honour existing contractual obligations to these policyholders.
We will continue to monitor the political and regulatory landscapes closely and we will communicate to our customers as soon as we have further relevant information.