Lloyd’s has identified that 4 percent of its global gross written premium (GWP) is likely to be affected by the UK’s withdrawal from the EU single market.
In documents outlining Lloyd’s proposed plan following a UK exit from the European Union, the Corporation said that approximately £800mn ($1.1bn) of GWP would be affected.
This comprises cross-border, non-marine, aviation and transport business, Lloyd’s said.
The European Economic Area (EEA) accounts for 11 percent, or £2.9bn, of total Lloyd’s GWP. Of this…Read more at The Insurance Insider