QBE, one of the first (re)insurers to receive approval for its post-Brexit subsidiary, has reached what it described as “another significant milestone” in its preparations for the UK’s divorce with the European Union.
Announcing the latest development in its Brexit arrangements, QBE said its Part VII transfer hearing has taken place – meaning its restructuring plans have been heard at the High Court in the UK. The court-sanctioned legal transfer of policies is governed by Part VII of the UK’s Financial Services and Markets Act 2000.
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