You are here

Brexit timeline

Date Milestone Detail
7 May, 2015 Conservative Mandate In the general election, David Cameron wins a 12-seat majority with a manifesto that includes the commitment to hold an in/out referendum on the UK’s membership of the European Union.
23 June, 2016 The Referendum The referendum sees Leave campaigners win a narrow victory with 51.9% against and 48.1% for Remain. Mr Cameron resigns immediately as Prime Minister.
13 July, 2016 New PM Theresa May becomes Prime Minister.
17 January, 2017 Lancaster House Speech

The PM gives her first speech setting out the type of Brexit deal she will be pursuing when formal negotiations begin. The key points covered in the speech included:

  • UK Law
  • The common travel area
  • Immigration
  • Rights for EU nationals
  • Worker’s Rights
  • Free trade
  • Security
29 March, 2017 Article 50 The PM triggers Article 50 which starts the clock on the process of the UK leaving the EU.
8 June, 2017 Snap Election Having surprised many by calling a general election, the PM loses her majority in Parliament. Northern Ireland's DUP - led by Arlene Foster - makes a deal with the Conservatives and its votes allow the PM to stay in power.
26 June, 2017 Negotiations Begin Formal negotiations on withdrawal begin between the UK and the EU.
22 September, 2017 Florence Speech

In an effort to break a deadlock in the negotiations, the PM set out the UK's position on how to move Brexit talks forward on the following key areas:

  • Transition period
  • Joint security
  • A Divorce bill
  • Leaving the single market
  • Citizen’s rights
  • Northern Ireland border
13 December, 2017 Westminster Rebellion Rebel Tory MPs side with the Opposition, forcing the government to guarantee a vote on the final Brexit deal, when it has been struck with Brussels.
15 December, 2017 Negotiations Phase 2 The EU agrees to move on to the second phase of negotiations after an agreement is reached on the Brexit “divorce bill”, Irish border and EU citizens’ rights.
2 March, 2018 Mansion House Speech

The PM gives a third speech outlining her plans for the next phase of negotiations. Topics included:

  • Free trade agreement
  • The five "tests" for the negotiations.
  • Labour mobility
  • Mutual recognition
  • The Northern Ireland Border
  • That ‘no deal’ is better than a bad deal.
19 March, 2018 Negotiations Progress The UK and EU make decisive steps in negotiations. Agreements include dates for a transitional period after Brexit day, the status of EU citizens in the UK before and after that time and fishing policy. Issues still to be sorted out include the Northern Ireland border.
6 July, 2018 Chequers Statement

The Government forms a final list of demands from the EU at a ‘Cabinet Away Day’, attempting to reach a general consensus on the content of the Brexit legislation, and how the final round of negotiations will progress. It covered:

  • The Brexit departure date
  • The end of Free movement
  • Post-Brexit financial contributions
  • A new customs regime
  • A common rulebook for goods
  • The status of EU law

Preparation for a ‘no deal Brexit’

12 July, 2018 White Paper Published The Government published its Brexit White Paper, outlining the Government's approach to managing the country's withdrawal from the EU.
15 November, 2018 The Clock Runs Out Theresa May presented the deal to Parliament. 
25 November, 2018 EU Summit EU Leaders agree to the Prime Ministers Brexit deal. 

14 January, 2019

Vote The Government was defeated in a 'meaningful vote' on the Withdrawal Agreement 
12 March, 2019 Second Vote The Government held its second 'meaningful vote' on the Withdrawal agreement which was defeated.
21 March, 2019 Extension The Prime Minister secured a short extension to Article 50 to delay Brexit until 12 April. The EU has said that agreement on a further extension of Article 50 to the end of May would be possible, but only if the UK approves a withdrawal agreement before 12 April.
10 April  2019 Second Extension

The Prime Minister and EU leaders agreed to a flexible extension of Article 50 until 31 October 2019. The UK has until this date to agree and pass a withdrawal deal.

23 - 26 May, 2019 European Elections The UK participates in European Elections, selecting 73 MEPs in 12 multi-member regional constituencies.
24 May, 2019 Theresa May resigns  Theresa May declares that she will step down as Prime Minister on 7 June 2019. The Conservative Party will select a new leader and Prime Minister. The new Government will take the lead in delivering Brexit. 
24 July 2019 Boris Johnson confirmed as new Prime Minister Boris Johnson succeeds Theresa May as the UK's 55th Prime Minister
17 October 2019 EU Summit The final scheduled summit of EU leadersbefore the October 31 deadline begins in Brussels. The Prime Minister announces that a revised deal has been struck.
19 October 2019 Benn Act Deadline

In accordance with the terms of the Benn Act, the PM asked the EU for a further extension of its departure date, as a deal had not been approved by Parliament, and Parliament did not consent to the UK leaving with no-deal. 

22 October 2019 MPs Vote on the Withdrawal Agreement

The Withdrawal Agreement Bill passes its second stage reading in the House of Commons, but failed to pass its program motion, ensuring that the UK's departure on the 31 October would be delayed, with the EU’s agreement. 

28 October 2019 EU Agrees to Extension

The European Union agreed to grant the U.K. up to three more months to finalise its departure. Brexit will take place on the first day of the month following the ratification of the Withdrawal Agreement, “or on 1 February 2020, whichever is the earliest.”

1 December 2019 First Possible Departure Date According to the terms of the extension of Article 50, the UK can leave the EU on this date if the House of Commons and the European Parliament ratify the exit deal before this date.
12 December 2019 General Election  A General Election was held and a new majority Government was formed.
20 December Withdrawal Agreement Bill The EU Withdrawal Agreement Bill is introduced to parliamment, with MPs passing its second stage reading. 
1 January 2020 Second Possible Departure Date According to the terms of the extension of Article 50, the UK can leave the EU on this date if the House of Commons and the European Parliament ratify the exit deal after the 1 January 2020, and before this date.
1 February 2020 Final Possible Departure Date  The UK will leave the EU on this date at the latest, either under the terms of the Withdrawal Agreement or with no deal, unless the Government and EU agree to extend or revoke Article 50.

The ongoing negotiations between Westminster and the EU are constantly changing. There is still much uncertainty surrounding both how, and when, we will depart from the EU.

As the existing state of affairs develops we will endeavour to keep you updated with the latest news. Should you want any further information please contact the IFoA Policy team – policy@actuaries.org.uk  

Filter or search events

Start date
E.g., 15/07/2020
End date
E.g., 15/07/2020

Events calendar

  • Current Issues in Life Assurance (CILA) Webinar series

    Webinar Series
    15 July 2020 - 3 August 2020

    Spaces available

    CILA is one of the pre-eminent events in the annual 'Life' calendar. Due to COVID-19 we are running the programme as a series of webinars covering topics aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries and those who work in or advise on, the life assurance market in the UK and Europe.

  • Spaces available

    Current Issues in Life Assurance - For annuity writers, a key challenge is the need to fund capital-consumptive new business strain (NBS) as a consequence of writing the business intended to fund future distributions. Reinsurance, investment strategy and capital provision all have roles to play which we will investigate in this webinar

  • Spaces available

    Current Issues in Life Assurance – Mortality in 2020 is now dominated by one thing, although – in our future-focused world – the pandemic is just one of many mortality considerations.  In this session, three well-regarded mortality/longevity specialists provide an overview of implications and impacts of COVID-19, recent and imminent CMI developments and more 'future focused' work in the MRSC

  • Spaces available

    Because of Covid-19, forecasters predict a severe recession in 2020, followed by a V or U-shaped recovery. This impacts both individuals and companies. However, compared to previous recessions, the impact on banks of higher credit losses should be mitigated to some extent by government actions. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    This session will provide an overview of the Population Health Management Working Party's research including defining impactability and impactability modelling, discussing some examples of specific modelling approaches, considering the practical challenges across the NHS as well as wider public perception and ethical issues.

  • Spaces available

    Many actuaries consider career opportunities in the Finance and Investment practice area after having started off in more traditional actuarial roles such as valuations, capital management or pricing. This session is aimed at helping actuaries to better understand roles in Finance and Investment and how they can fine tune their skills to pursue such careers.

  • Mortality and Longevity Webinar Series 2020

    Webinar Series
    22 July 2020 - 10 August 2020

    Spaces available

    Due to COVID-19, we are running this programme via a series of webinars commencing 22nd July.

    This webinar series will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity, and is designed to be very accessible to a broad range of experience.

     

  • Spaces available

    Insurers are making increasing use of medical research to help with assumption, models and underwriting. Experienced mortality/ longevity specialists discuss the issues in the interpretation of  medical research papers, using a range of case studies. The case studies will include COVID-19 points of current importance. Many of the concepts discussed (data bias, inference of causation) are also applicable to equivalent questions in 'big data' and advanced analytics.

  • Spaces available

    Members of the Mortality Working Group of the IAA have analysed changes in mortality for about 30 causes of death  and will discuss how causes of death are classified, and the problems of long-term data, appropriate metrics, including "years of life lost" (YLL), causes of death - a "measure of cohortness", the changes in dominant causes of death at older ages, and how can these types of studies enhance mortality forecasting.

  • Spaces available

    Predictive risk assessment and risk stratification models based on postcode-level consumer classification are widely used for life insurance underwriting. However, these are socio-economic models not directly related to health information. Similar to precision medicine, precision life insurance should aim to tailor policy pricing/reserving to the individual health characteristics of each client.

  • Spaces available

    This discussion, the fourth in the Extreme Mortality Events webinar series, will look at what poor model selection and calibration could look like – using inappropriate historical data; using incorrect 2020 mortality data; and inappropriate stochastic model recalibration (or lack thereof). Presented by Chair of the Life Board of the Institute and Faculty of Actuaries, Colin Dutkiewicz. 

  • Spaces available

    This webinar has been re-scheduled from its original date of the 1st July. Although ESG has many buyers across the asset allocation community, from pension funds to sovereign wealth funds, it still hasn’t found its place within the core asset management strategy desks where the money is actually invested. The problem as well as the opportunity is Fixed Income. Plenty of strategies exist for incorporating ESG within Equities, from screening, integration to a combination. ESG has picked up relatively quickly within Equities with rating,indices created using ESG factors. This talk will discuss how we price a quantifiable ESG credit risk premium and make it alpha worthy in a strategy. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    With the rising prevalence of dementia, how can we manage this risk effectively and can insurance do more? Matt Singleton, Ageing Lead at Swiss Re, will cover these topics and demonstrate how insurance could help people address their concerns.

  • Spaces available

    Current Issues in Life Assurance – Join us for an exploration session on the use of data science in insurance companies today including how insurers are making sense of and using new data sources and technologies, exploration of practical applications of data science within actuarial work, benefits of data-driven decisions to solve business problems using the power of data and technology, and the role that actuaries can play to harness the benefits of data science.

     

  • Spaces available

    Current Issues in Life Assurance

    This talk will look at a range of such techniques (e.g. mass lapse risk transfer, contract boundaries, risk margin relief, non-standard longevity risk transfer) that have been applied or considered by UK and EU insurers, and the pros and cons of each.

     

  • Spaces available

    Current Issues in Life Assurance.

    The International Association of Insurance Supervisors announced on 14 November 2019 the adoption of v2.0 of the global Insurance Capital Standard (ICS) which will undergo confidential reporting for 5 years starting from 2020. This session will include specific experiences from Legal and General (L&G) as well as global industry perspectives from EY.

  • Spaces available

    Current Issues in Life Assurance

    This session will cover the PRA supervisory statement on financial impacts related to climate change, industry insights into PRA climate risk business plans, examples climate risk strategy setting out key workstreams and activity steps for successful execution, an overview of a climate risk strategy execution timeline and the future.     

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Using new and unique research and data from the UK, US, Sweden and China, this presentation investigates how consumers use the internet through their insurance journey and analyzes the role culture and generation plays in their online behaviour. We use this research to show the online landscape for insurance sales in the UK and suggest ways to shape new products and effectively engage with the consumer who is buying them.

  • Spaces available

    Chief Medical Officer (CMO) for Gen Re Life/Health Research and Development, Dr John O'Brien, will discuss the impacts of Gene Modification for life/health insurance. 

  • Spaces available

    As an industry, it has been important to be able to look to the future to identify the next quantifiable risk. In this session, I will explore some of the less tangible, but none-the-less concerning risks to future health, such as the health risks associated with exposure to pesticides, ingestion of plastic in the food chain, and the hazards of indoor air pollution through exposure to volatile organic compounds.

  • Spaces available

    The working party will help the industry to update and enhance how potential risk from diabetes and excess mortality is considered, including the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. 

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC.