Context
In association with Allianz and DAC Beachcroft, BIBA has produced a new guide covering the effects of Brexit on, for example, the workforce, SMEs and cross-border recoveries. The guide looks at the situation in which UK brokers find themselves.
Key points to note
- Brokers are currently presented with a few options, e.g.:
- investing in subsidiaries in EU countries;
- moving their operations abroad; or
- leveraging their membership of an international broker network to establish local partnerships.
- However, each of these options carries certain risks and costs.
- Whilst larger multinational brokers may cope more easily with the changes, smaller independents could face real struggles with knowing the best long-term option.
- In any case, time is running out to make and execute such decisions.
Next actions
Firms still considering options for dealing with EU clients post-Brexit may wish to review the content of the guide.