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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 Extention

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 Eurpoean Elections The UK paricipates in Eurpoean Elections, slelecting 73 MEPs in 12 multi-member regional constituencies.
24 May, 2019 Theresa May resigns  Theresa May delcares that she will step down as Prime Mnister 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. 

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  

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Events calendar

  • Pensions Conference 2019

    Bristol Marriott Hotel City Centre, 2 Lower Castle Street, Old Market, Bristol, BS1 3AD
    18-19 June 2019
    Spaces available

    Five plenaries and 13 workshops cover current topics and industry trends in the Pension sector with the opportunity to develop your network at the pre-conference evening dinner (18 June).  There is also a day ticket option available for the 19 June. 

  • KSS event – FinTech and The Actuarial Profession

    EY, Atria One, 144 Morrison Street, Edinburgh
    19 June 2019

    Spaces available

    This KSS talk from FinTech Scotland's CEO will explore the mission to create an integrated Fintech ecosystem through provision of funding, support, infrastructure and talent that recognises and responds to the needs of all stakeholders - and the overarching aim for Scotland to be one of the top 5 Fintech global leaders by 2020.

    To book your place, please email Barry_Shannon@standardlife.com 

  • Current Issues in General Insurance (CIGI) 2019

    Inmarsat, 99 City Road, London, EC1Y 1BJ
    19 June 2019

    Fully booked.

    CIGI is a well-established one-day seminar designed to increase awareness and encourage discussion on a variety of topical issues across the general insurance industry. 

    There will be an excellent and diverse line-up of speakers to provide a variety of perspectives and challenge covering technical and professional areas. 

  • Cass Event – New Thinking about Deferred Annuities

    Cass Business School, Executive Education Facilities 200 Aldersgate St, London EC1A 4HD
    25 June 2019

    Spaces available

    Our motivation for discussing this important subject comes from some exciting recent research which has analysed the impact of behavioural factors on the decision to purchase an annuity. This work has shown that behavioural factors can explain the well-known low demand for immediate annuities but this research also identifies an important opportunity in relation to deferred annuities (DA). The research suggests that these factors lead to positive incentives to purchase a DA and that, for longer deferred periods, a DA could be an attractive product for both consumers and insurers.

  • IFoA/SAS Joint Professional Skills Training – Singapore

    Room 903, NTUC Centre, Level 9, One Marina Boulevard, Singapore 018989
    25 June 2019

    Spaces available

    The Institute and Faculty of Actuaries (IFoA) and Singapore Actuarial Society (SAS) are organising a joint Professional Skills Training (PST) in Singapore. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Webinar Series: Risk and Investment Conference 2019, 26 June

    These are online webinar events.
    26 June 2019

    Spaces available

    The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.

  • AGM and Presidential Address 2019 + Volunteer and Member Drinks Reception

    The Hub  Castlehill Edinburgh EH1 2NE
    26 June 2019

    Spaces available

    Notice is hereby given that the ANNUAL GENERAL MEETING of the INSTITUTE AND FACULTY OF ACTUARIES will be held at The Hub, Edinburgh on Wednesday 26 June 2019 at 16.30 (Preceded by tea from 16.00) and followed by a PRESIDENTIAL ADDRESS given by John Taylor.

  • IFAM event - Actuarial Teachers’ & Researchers’ Conference 2019

    Institute for Financial and Actuarial Mathematics Department of Mathematical  Sciences The University of Liverpool Mathematical Sciences Building Peach Street Liverpool, L69 7ZL
    27 June 2019 - 29 June 2019

    Spaces available

    The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.

  • IFoA/ASM Joint Professional Skills Training – Kuala Lumpur

    Menara AIA, Auditorium, 99 Jalan Ampang, 50450, Kuala Lumpur
    28 June 2019

    Spaces available

    The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • SIAS: The Impact of Air Pollution on Health and Life Expectancy

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 July 2019

    Spaces available

    Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.

  • Spaces available

    The actuarial profession has much to offer the world of banking. In this webinar actuaries with experience in various fields of banking will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do as well as other roles within their area of banking.

  • Implications of 2019 IFRS 17 Exposure Draft

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    24 July 2019

    Spaces available

    Towards the end of June, the International Accounting Standards Board (IASB) is expected to publish an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022. To help IFoA members, the IFoA’s cross-practice Financial Reporting Group (FRG) is hosting an event at Staple Inn covering these developments. 

    For more information on the FRG please visit this webpage

  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

    • FCA business plan priorities
    • The future of regulation
    • FCA Engagement in Scotland
  • Sessional Research Event - Risk Margin Working Party

    Staple Inn Hall, High Holborn London, WC1V 7QJ
    9 September 2019

    Spaces available

    For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

     

  • Life Conference 2019

    The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
    20-22 November 2019
    Spaces available

    The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

  • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    2 December 2019

    Spaces available

    The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.