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Nearly 34 000 people are employed in the insurance business in the British capital. The country’s exit from the European Union stands as a direct threat for, not only part of these jobs, but also for the jobs that are indirectly related to this industry.
Since the announcement made regarding the referendum last June 24, some insurers had already devised relocation plans in the event of exit from the common market. Foreign capitals will probably go toward pro-European more attractive jurisdictions.
status of their London outlets if the ‘out’ wins because their presence in Great Britain would no longer guarantee unlimited access to common market.
The relocation of their head office on the continent would make it possible for them to operate at minimum costs.
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