Europe and international Around the world We continue to strengthen relationships across Europe and the wider world, with key areas of progress made throughout 2021 Data adequacy We pressed hard on the importance of a (GDPR) data adequacy decision that would allow personal data to continue to flow to and from the UK/EU. A temporary bridging mechanism was included in the UK-EU Trade and Cooperation Agreement (TCA) to give the European Commission time to finalise its decision. In March, the EC proposed a positive determination that is close to being agreed. Green cards Following five years of lobbying by the ABI, the Motor Insurers Bureau, and other stakeholders, the European Commission finally confirmed that the UK would be able to re-join the Green Card Free Circulation Zone when it published an Implementing Decision in July. This means that UK motorists are no longer required to carry a Green Card when driving in the EU. This is a positive decision, and the fourth of our five Brexit asks to be resolved in a positive manner. EU regulatory influence The ABI maintains a very positive relationship with Insurance Europe and we continue to monitor areas where the EUs legislative activity could influence regulatory developments in the UK or have implications for firms as third countries. For example, sustainable finance, AI liability, access to in-vehicle data, and the EUs proposal for a single access point for financial and non-financial information publicly disclosed by companies. International influence UK motorists are no longer required to carry a Green Card when driving in the EU. This is a positive decision, and the fourth of our five Brexit asks to be resolved in a positive manner We continue to ensure the insurance voice is heard in formal meetings with HM Treasury and the Department of International Trade on ongoing trade negotiations, including with the US, and the mutual recognition agreement being negotiated with Switzerland. With the increased focus on climate change, we also responded to an All-Party Parliamentary Group (APPG) call for evidence on how trade could be used to address the impact of climate change and the important role our sector can play in helping the UK to meet its net zero goals. Canada We have long stressed the importance of Canada to our members and the need for greater cooperation between the nations. We therefore welcome DITs intension to formally commence trade negotiations. India As one of our priority markets for internationaltrade, we have continued to underline to government the importance of India to our members. Canada We have long stressed the importance of Canada to our members and the need for greater cooperation between the nations. We therefore welcome DITs intension to formally commence trade negotiations. Ahead of the government launching trade negotiations with Canada, we have fed in our key asks of the Department for International Trade (DIT) and HM Treasury. We highlighted the value in securing a legally binding commitment within an FTA to enable the free flow of data cross-border, and asked for a formal mechanism for regulatory cooperation for financial services to build trust between regulators and highlighted the opportunity to include commitments on climate given the similar positions of the UK and Canada. It is encouraging that DIT has acknowledged our position and we now await negotiations to start imminently. India As one of our priority markets for internationaltrade, we have continued to underline to government the importance of India to ABI members. In May, the Indian Ministry of Finance raised the foreign direct investment cap from 49% to 74% for the insurance sector. This increase in FDI is very welcome as we have long advocated for it, and it has been a key ABI ask in past UK-India Economic and Financial Dialogues (EFDs). September saw the UK-India Economic and Financial Dialogue recognise two of the ABIs primary concerns relating to India: an agreement to look at the discriminatory treatment towards foreign reinsurers in India, and for the UK and India to work together to facilitate the free flow of data in Indias draft rules on data protection. This is a constructive step forward as the UK plans to launch trade negotiations with India.