A prominent MEP has lambasted a “lax” approach to luring the world’s largest insurance market to the European Union, posing questions about the validity of the Brexit contingency plans set out by Lloyd’s of London.
The 330-year-old UK-based insurance syndicate surprised many in March 2017 when it chose Brussels for its post-Brexit EU hub. The Belgian capital does not have a large specialist insurance industry and many of the sector’s UK-based firms had selected Luxembourg and Dublin as their future base in the bloc.
