Lloyd’s concerned over Brexit uncertainties
Wednesday, 01 31 2018, Category: Insurance and Reinsurance, Country: United Kingdom
As Brexit negotiations enter a second phase to focus on a trade deal once the U.K. leaves the European Union, Lloyd’s Chief Executive Officer Inga Beale reiterated concerns over the impact on business of remaining Brexit uncertainties at the World Economic Forum (WEF) in Davos.
She told the CNBC; “the government has made some inroads, we’re that by the end of the first quarter of 2018, the U.K. government would offer more clarity on whether there would be any implementation period and transitional arrangement once the U.K. leaves the bloc in March 2019.
“This will give some comfort to business, but it’s not going to be providing any legal certainty.
“Do we have another 2 years, 3 years, 4 years, to implement the exit? That’s not necessarily going to help us, and we need the certainty.