Insurance mutual Royal London has made plans to change its existing life business in the Republic of Ireland to a full subsidiary in order to mitigate Brexit uncertainty and guarantee continued access to its products.
Royal London confirmed the plans in its half-year results on Thursday, and is awaiting regulatory approval to press on with the change. While UK advisers with Irish clients currently have access to Royal London's life products in Ireland, this could be in jeopardy if passporting rights are affected by Brexit. The subsidiary will be regulated by the Central Bank of Ireland and headed up by managing director Alex Koslowski, who is in charge of the Irish life business at the moment. A Royal...
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