Giovedì , 28 Marzo 2024

N NEWS

Aggiornamento sulla Brexit di Vincent Vandendael, Lloyd's Director, Global Markets

, News

Dear All,

As you are probably aware, the British Prime Minister, Theresa May MP, has used the Conservative Party Conference to confirm her intention to invoke Article 50 of the Lisbon Treaty, the process under which the United Kingdom will formally exit the European Union, by the end of March 2017.

In her key note address to the Conference this lunchtime, the Prime Minister said:

“And let’s be clear about what is going to happen. Article Fifty – triggered no later than the end of March.”

The Prime Minister also said:

“It is, of course, too early to say exactly what agreement we will reach with the EU. It’s going to be a tough negotiation, it will require some give and take. And while there will always be pressure to give a running commentary, it will not be in our national interest to do so.

“But let me be clear about the agreement we seek. I want it to reflect the strong and mature relationships we enjoy with our European friends…I want it to involve free trade, in goods and services. I want it to give British companies the maximum freedom to trade with and operate within the Single Market – and let European businesses do the same here.”

We continue to lobby the Government on the benefits of maintaining access to the single market, preferably under current passporting rules, but we have also been working on how Lloyd’s will maintain its ability to trade freely with the European Union should that access be revoked.

Our focus has been on how we best write business onshore in the EU through alternative operating models such as a single subsidiary or establishing branches in the countries we trade in.

This is all with a view to ensuring our customers (including the insureds, brokers and coverholders) are able to access the Lloyd’s markets seamlessly for EU business.

Chairman, John Nelson said:

“I welcome the Prime Minister providing business with more certainty around the timing of when Article 50 will be invoked and reinforcing the importance of services in any future deal. I speak for many in the financial services industry both in the UK and within the EU when I say that in the months ahead I hope the Government is able to secure the access to the single market that has helped London become the world’s financial centre and a key component supporting the economies of both the UK and the EU.

“Lloyd’s will always be centred in London and that is not about to change. However, it is important to us that we can continue to transact business in the European Union. We know this is what businesses here and in the European Union want, and it is incumbent on us to ensure that the Lloyd’s market remains open for EU business.”

Our intention is to have reached a conclusion on the best option for the Lloyd’s market that we can bring forward next year for discussion.

Meanwhile, information will continue to be available on our website at lloyds.com/Brexit, questions can be submitted via brexit@lloyds.com, or please contact your country manager with any issues you wish to raise.

Best regards

Vincent

VINCENT VANDENDAEL
Director, Global Markets
Lloyd's - One Lime Street - London - EC3M 7HA
Telephone +44 (0)20 7327 6179
Fax +44 (0)20 7327 6604
www.lloyds.com