LONDON MARKET LOSSES £4.5BILLION IN PREMIUM TO BREXIT.

The international under writing association(IUA)said that a total of £4.5billion pound previously overseen by London insurers was moved to their continental Europe operations last year as companies restructured for Brexit.
This controlled premium was previously written in European offices but managed by London market companies.
The London market however still wrote some £6.2billion in controlled premiums which are written outside the UK’S capital but managed within last year. This figure is down from the £8.8billion in 2018. Planning for Brexit has cost London market companies.

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