Brexit threatens 4% of Lloyd’s global GWP
Lloyd’s has revealed that 4 percent of its £26.6 billion global gross written premium is likely to be affected by the UK’s withdrawal from the EU’s single market.
The European Economic Area accounts for 11 percent of Lloyd’s gross written premium or £2.9 billion, according to a document describing its post-EU referendum plan.
Of this amount, £1.1 billion is reinsurance, which Lloyd’s expects to be largely unaffected, and £557 million is marine, aviation and transport (MAT). Non-MAT amounts to £1.2 billion, of which £800 million is written cross-border and is most likely to be affected by the UK’s withdrawal from the single market.
Lloyd’s largest market, Canada and the US, represents 47 percent of its global gross written premium.
The result of the EU referendum has no impact on Lloyd’s trading rights in all non-EU territories, according to the document.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze