LONDON (Reuters) - Insurance market Lloyd’s of London Chairman John Nelson said on Tuesday that Britain’s financial services ecosystem will be severly damaged if Brexit is mishandled.
“The ecosystem that we have, that is so massively valuable to the economy...is at a cusp if Brexit is mishandled,” Nelson told delegates at a conference in London.
“It won’t disappear but it will have significant impact on the London insurance market.”
Nelson told Reuters last month Lloyd’s of London would have a plan ready to move some business to the EU by the time Article 50 is triggered, if Britain loses its access to the single European market.
Reporting By Anjuli Davies, editing by Andrew Macaskill