Brexit

Brexit: Our Approach and What It Means For Our UK Based Customers

As the negotiations continue in relation to the UK’s proposed withdrawal from the European Union (“Brexit”), Monument Assurance dac, Monument Insurance dac and Laguna Life dac (the “Monument Companies”) want to reassure our UK resident policyholders and beneficiaries that we will continue to offer you the same security and service that you have today following Brexit.

As a result of Brexit, there will be no change to the:

• Terms of your policy
• The manner in which we collect premiums or issue benefit payments
• The contact details for our Customer Service Teams
• Your rights, as a UK Customer, to refer complaints to the Financial Ombudsman Service for investigation.

You do not need to do anything to continue to enjoy the security and benefits of your current policy with the Monument Companies post-Brexit.

Our Approach:

If an agreement permitting insurance companies established and regulated in the remaining 27 EU member states to carry on insurance business in the UK post-Brexit is not reached between the EU and the UK prior to the UK’s proposed withdrawal from the EU on 29 March 2019, the Monument Companies shall opt-in to the UK’s Temporary Permissions Regime. This regime, as currently proposed by the UK, would allow the Monument Companies to continue to operate and service policies that were sold in the UK in a similar manner to today, for up to 3 years post-Brexit. During that 3 year period the Monument Companies would engage with all relevant regulatory authorities to agree a long term structure that would allow us to continue to service and support our UK resident policyholders and beneficiaries beyond the expiry of the Temporary Permissions Regime.