Regulators find the X-factor

The City of London looked on in astonishment when Britain voted to leave Europe in 2016. Rival cities across the EU raced to attract UK based financial services companies that would need a new home on the continent to take advantage of the bloc’s passporting rules. From Dublin to Luxembourg, financial centres around Europe have continued to woo insurers, citing advantages that range from low rental prices to the quality of cuisine. A strong underlying theme, however, has always been regulation and specifically the ability of a regulator to be both business friendly and stay respected as a supervisor. “The domestic regulator has also been important, particularly its approach, expertise and accessibility,” as AM Best said in its note.

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