Increasing risk of a hard Brexit: FMA demands wide-ranging measures from insurance undertakings
(World News Austria)

In light of the impending exit of the United Kingdom (UK) from the European Union (EU) the Austrian Financial Market Authority (FMA) is stepping up its activities, both to protect insurance policyholders in Austria as well as to ensure that the Austrian insurance undertakings are also adequately prepared. It is therefore reacting to the slow progress made in negotiations over the UK`s exiting of the EU, and the uncertainties regarding the future relationship between the UK and the EU and the European internal market. The FMA`s Executive Board members, Helmut Ettl und Klaus Kumpfmüller have commented: `The...