Brussels, Athens and Piraeus are among the cities London insurance brokers could consider for European Union subsidiaries, with time running out to plan for a hard Brexit, a trade body said on Wednesday, according to the following report by Reuters:
“At this advanced stage of the game, it would be foolish to ignore the very real possibility of no deal for the UK,” Christopher Croft, chief executive of the Londn Insurance and International Brokers Association (LIIBA), said in a statement accompanying the trade group’s mid-year report.
“LIIBA will be pursuing a more in-depth exploration of whether Athens or Piraeus could prove a viable alternative location,” he added.
A number of LIIBA members already have operations in Piraeus Port, as the trade body represents brokers accounting for one-third of global marine insurance premiums, Croft told Reuters by email.
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