The UK withdrew from the EU on Friday 31 January 2020 and the transition period ended on 31 December 2020. Although a trade deal was agreed, there is still no specific deal covering financial services.
We have been in ongoing consultation with the local regulators across the EEA states in order to keep you informed of any changes.
Your investment with Prudential is important to us. As a business we constantly monitor all factors to do with your policy including the political environment in which we operate. We will continue to keep you updated with any changes that may affect your policy, please keep checking this page for the latest information.
However, investments of any nature carry a risk and values can go down as well as up so you might not get back the amount you put in. Political uncertainty and various other factors such as exchange and interest rates can all impact how your investment performs.
If you’re already a resident in the EEA (or are considering a move there), there is no immediate impact to the ongoing servicing of your policy. However, we will no longer be able to make any policy alterations which could be considered to be new business. Please see our Q&A below for more information. If you are a Prudential International customer, please click here.
If you already live, or are considering living outside of the UK or EEA the same applies, we’re unable to make any alterations to your policy which could be considered new business. This is a consequence of moving overseas and is not a direct impact of Brexit.
During any period of change, it’s important for you to get good advice and be happy that your investments are managed to deal, as best they can, with any potential volatility.
It’s essential for you to invest with a partner you can trust to act with you and for you at all times - Prudential has a long history of adapting to local, national and global change and have an established range of funds developed to help manage the ups and downs of volatile investment markets.
We are aware of the news that some UK banks made the decision to close UK bank accounts for customers living in some EEA locations. We contacted customers who may have been affected by this and confirmed the options available to them. Please see our Q&A below for details.
What are your options?