Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-GA7XXB

Risk retention levels of Brazilian firms affecting UK financial services

in Brazil

Trade barrier summary

Brazilian insurers and reinsurers had to keep a minimum 50% risk retention of their written premiums (meaning they can only reinsure themselves on up to half of their written premiums). Department for Business and Trade (DBT) fed into the public consultation which led to new legislation reducing this to 10%, creating a level playing field between Brazilian and overseas businesses.

Sectors affected

  • Financial and professional services

Resolved

Yes - March 2023

Date reported

11 May 2020

Last updated

21 November 2023

Public ID

PID-GA7XXB

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