Lloyd's of London confirms Brussels as EU base in Brexit shift.

Lloyd's of London is to shift around 100 jobs to the heart of the EU to limit potential damage to the world's biggest insurance market from Brexit.

It made the announcement, as Sky News reported it would do , less than 24 hours after Theresa May began the formal process to commence divorce talks with the EU.

The decision highlights the pressure felt by financial services firms to secure their continued access to the bloc once the UK leaves.

Lloyd's said it intended to have the Brussels office "ready to write business" for the 1st January 2019 renewal season, subject to regulatory approval. It had considered operations in Luxembourg instead.

Chief (Taiwan OTC: 3345.TWO - news) executive, Inga Beale, said: "It is important that we are able to provide the market and customers with an effective solution that means business can carry on without interruption when the UK leaves the EU.



Sky News.
Full story at Yahoo News.