ReAssure statement on Brexit

The UK will exit the EU (Brexit) on 29 March 2019.

We (ReAssure) have been monitoring and analysing the potential implications of this for our customers, and our business. At the moment, we still don’t know what the UK’s future relationship with the EU will look like. This means we can’t tell you if or how your ReAssure policy will be affected, but we’ve put together some questions and answers to help you:

Q. I live in another EU country. How will my policy be affected?

This depends on the nature of the deal the UK agrees with the EU. If there are any negative effects on customer policies, we’ll work hard to minimise them and we’ll contact those affected.

Q. What will happen to the investment performance of my policy?

We can’t comment or speculate on how your policy’s investment performance will be affected by Brexit. We’ve already seen periods of market volatility since the referendum vote in June 2016 and it’s possible we’ll see more before and after the Brexit date.  This can have an impact on the investment performance of your policy.

Fund values can go up or down on a daily basis and the market is affected by numerous factors. If you want to discuss your future investment strategy we recommend you speak to a Financial Adviser. If you don’t have an adviser, you can find one in your area at unbiased.co.uk.

Q. What actions will ReAssure take if the market is especially volatile?

Sudden market volatility can affect most customers, but would have a much bigger effect on customers who take money out of a policy. For example, if you wanted to surrender a life policy, but you were invested in a fund that’s dropped significantly in value, you would get less money.

In situations like this we may contact you to ask if you still want to go ahead with your transaction.

Q. When the UK leaves the EU, will my money be safe with ReAssure?

We have to meet stringent requirements about the amount of money we hold. This minimises the risks to our customers should an economic shock ever occur. So, whilst we can’t say what impact Brexit will have on the market, we’re confident we can meet all commitments to our customers.

If you’re concerned about how Brexit could affect your policy and want advice on what you should do, we recommend you speak with a Financial Adviser.  If you don’t have an adviser, you can find one in your area at unbiased.co.uk.

Q. What happens if things change?

We’ll continue to closely monitor the situation and consider the potential implications of Brexit. If any changes are announced that we think might affect our customers, we’ll update our website to let everyone know about it.