Brexit cost for financial services sector nears £4bn


The direct financial impact of Brexit on major financial services firms, including insurers and brokers, has reached nearly £4bn as of 31 May 2019, according to EY.

The firm detailed that this included a cost of £1.3bn to relocate staff and operations, legal advice, contingency provisions and an additional £2.6bn for capital injections to grow headquarters based outside of the UK.

According to EY, the actual figure is likely to be higher as only 13 of the 122 firms monitored by its Financial

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: