Handelsblatt Exclusive

London's Lloyds Wants Brexit Clarity

John Frederick Nelson is the Chairman of Lloyd's of London. Nelson is a chartered accountant. Photographed in the Lloyds Building. © Charlie Forgham-Bailey
John Nelson, the Chairman of Lloyd's of London, wants clarity from the British government on the Brexit roadmap.
  • Why it matters

    Why it matters

    If Britain were to lose the “passporting rights” that allow London-based banks to provide financial services anywhere in the E.U., Lloyd’s and other British finance companies could set up subsidiaries on the continent or move operations there.

  • Facts


    • British Prime Minister Theresa May recently announced that the United Kingdom would formally submit its application to withdraw from the European Union in March.
    • Insurance giant Lloyd’s of London obtained 11 percent of its revenue in the E.U. last year.
    • John Nelson intends to leave his position as the chairman of Lloyd’s in May next year and is not involved in the ongoing search for a successor.
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For risk-averse business people, these are not the best of times.

But neither the heightened terror threat in the heart of Europe, nor the various volatile political situations around the globe, seem to unnerve the chairman of the insurance giant Lloyd’s of London.

John Nelson readily acknowledges that the world has become more unpredictable. It’s proven challenging for the insurance sector too. For him, however, these developments also demonstrate how essential insurers are to the economy. They play a key role as “shock absorbers” in times of uncertainty, the chairman told Handelsblatt.

But there’s one element of uncertainty that does seem to get under Mr. Nelson’s skin more than others – the British government’s handling of Brexit.

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