Almost two dozen UK insurers are set to take advantage of new rules allowing them easier access to Swiss markets, Financial News can reveal.

Under the Berne Financial Services Agreement, which was initially signed in December 2023, UK and Swiss regulators agreed to so-called mutual recognition across insurance, banking, asset management and financial market infrastructure services. Targeted at wholesale and sophisticated clients, it was designed to make cross-border trade in financial services easier without having to navigate different rules in each country.