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Insurers to lose out in Brexit negotiations

Financial Conduct Authority CEO Andrew Bailey has warned that firms making plans before knowing the outcome of Brexit negotiations may find themselves in tricky water.

Bailey highlighted the importance of an agreement on a transition period in terms of Brexit at the regulator’s annual conference on 18 July.

According to Bailey, because the majority of firms have already put their contingency plans for Brexit in place, they might experience difficulties when the terms of the Brexit deal are agreed.