Lloyd’s in Brexit exit threat
John Nelson warns that Lloyd’s might “vote with its feet” following uncertainty over passporting rights following the Brexit vote.
Lloyd's could leave London and the UK if clarity over the impact of Brexit on the insurance sector is not outlined soon.
The chairman of Lloyd's said on BBC Radio 4's Today programme that it is "critical" that these rights are maintained.
He commented on the programme: "The issue is that if we do not get access to the EU single market, what will happen is that business will be written by us and others onshore EU."
"The loser will not be Lloyd's or the industry; sadly, it will be the UK."
Future
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