Keeping you up to date on Brexit - EEA
Negotiations over the terms of the UK's proposed withdrawal from the EU are ongoing. The EU and UK have agreed a further delay to Brexit until 31 October, however, this date is subject to change dependent on a number of outcomes.
We're keeping an eye on these negotiations and preparing plans for all possible outcomes. Regardless of the outcome, we're committed to having a plan to make sure we keep your policy running smoothly.
If you live in an EEA country
We await confirmation of the outcome of these negotiations so we can assess any potential impacts post Brexit to your policy if you now live in the EEA.
Frequently Asked Questions
The Brexit negotiations to date have been detailed and complex and at the moment there is still uncertainty as to the final outcome. As soon as more details emerge we will take any required actions to provide you with the highest levels of service and security and ensure that the impact on you, if any, is minimised.
As a business we constantly monitor all factors including the political environment in which we operate. The Brexit negotiations to date have been detailed and complex and at present there is still uncertainty as to what the final outcomes will be.
We have developed a range of contingency plans. Our customers interests, whether resident inside or outside the European Economic Area, are at the very heart of our thinking and any actions we might take. Our priority is to manage diligently your investments with us through these times. We’ll keep our website regularly updated as more information becomes known.
We have transferred policies to Prudential International Assurance (PIA) which is based in Ireland and all affected policyholders have been notified. These policies were originally bought in a Prudential branch within the extended European Economic Area (EEA) incorporating Poland, France, Malta, Germany and Ireland.
If you now live in the EEA and bought your policy in the UK, Channel Islands or the Isle of Man your policy will not be transferred.
Under present negotiations, the UK government is aiming to make it possible for the financial services industry to continue to be able to make payments overseas, including annuities. This aligns with recommendations from the European Insurance and Occupational Pensions Authority (EIOPA) and the Financial Conduct Authority (FCA) to all EEA regulators that the objective is to minimise the detriment to any impacted policyholders.
We await confirmation of the outcome of these negotiations so we can assess any potential impacts post Brexit for our policyholders and act appropriately.
If you have concerns about how wider economic conditions and political actions may impact your investments, you should contact your financial adviser, if you have one, in the first instance.
Investments carry a risk – their value can go down as well as up. As well as political uncertainty, a variety of other factors such as exchange and interest rate changes can also have an influence on how your investment performs.
Prudential has a long history of operating through changing economic conditions and political uncertainty. Our priority is to minimise disruption for you. Any actions that we take because of prevailing conditions are driven by this.
Our full focus is to maximise and protect the interests of our policyholders and wider stakeholders whatever the local, national and global economic and political considerations. This remains the case, whether the UK is part of the European Union or not.
Your investment is important to us. Our full focus always is to protect your interests securely as well as minimise any disruption or impact on your policy. Despite the uncertain outlook at present we have a variety of contingency plans in place to swiftly put into place no matter the global, economic and regulatory outlook we are faced with in the future. In the first instance you should speak to your financial adviser, if you have one. You should note the value of your investments can go down as well as up.