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Autumn Statement: Gov't calls on FSA to open doors to overseas insurers

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Autumn Statement: Gov't calls on FSA to open doors to overseas insurers

The government has called on the Financial Services Authority (FSA) to allow overseas-based insurance companies smooth entry into UK.

In the Autumn Statement the government said it wanted the UK to build on its competitiveness in the insurance sector and continue to stimulate interest in the market from overseas insurers.

It said: ‘The government particularly welcomes interest from insurers that meet the conditions for authorisation and that want to do more business in the UK and the government has asked the FSA to ensure that new applications from overseas insurers are processed smoothly.’

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