GIM1190 | The UK insurance market: EEA insurers

The EC Life and Non-life Insurance Directives removed the requirement for UK authorisation (and nearly all supervision) for insurers from EEA States operating via branches or agencies in the UK (unless their business consists wholly of reinsurance). This is because these companies are authorised by the equivalent supervisory body in their home State under ‘passport’ rights – see GIM1170. GIM3020 gives more information about FSA regulation and GIM10010 about reports required from non-UK resident insurers.