October 7, 2018 / 10:02 AM / 8 months ago

Lloyd's of London accelerating Brexit contingency plans - BBC

FILE PHOTO: Lloyd's of London's headquarters in the City of London, Britain, July 31, 2018. REUTERS/Simon Dawson/File Photo

LONDON (Reuters) - The outgoing chief executive of insurance market Lloyd’s of London, Inga Beale, said her firm is accelerating Brexit contingency plans to transfer contracts to a Brussels subsidiary as she feel Britain is getting closer to leaving the European Union without a deal.

“In fact we’re accelerating that plan as it seems to me as we might be closer to a ‘no deal’ than we were,” Beale told the BBC. Beale is set to be replaced by former QBE Insurance Group boss John Neal, who starts on Oct. 15.

Reporting by William James; Editing by Dale Hudson

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