April 26, 2017 / 11:32 AM / 7 months ago

Lloyd's of London sees continental business grow after Brexit

LONDON, April 26 (Reuters) - A base in mainland Europe will help insurer Lloyd’s of London increase its market share on the continent in the medium term, its chairman John Nelson said on Wednesday.

Lloyd’s of London has announced it is opening a subsidiary in Brussels so as to continue serving European Union customers after Britain leaves the bloc.

“In terms of the EU - partly for industry structural reasons, it has not been a hugely large market for Lloyd’s - it may actually improve. We have put down facilities onshore,” Nelson told a conference.

Adrian Montague, chairman of insurer Aviva, said his company was “Brexit ready”.

“We don’t have to do major structural surgery,” Montague said.

Reporting by Huw Jones

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