Brexit: “The appearance of Lloyd’s in Brussels is excellent news”

Brexit: “The appearance of Lloyd’s in Brussels is excellent news”
Charles Michel feels that his links with Lloyds of London have paid dividends, with the prospect of some of the organisation's business being fully operational in Brussels by January 2019.© Belga

Belgium’s Prime Minister, Charles Michel, responded that the appearance in Brussels of the insurance market providers, Lloyd’s of London, is “excellent news for Belgium’s credibility.”
He says that this demonstrates the attractiveness of Begium as an investment location post-Brexit.

Lloyd’s is the first major London financial institution to announce plans to move part of its operations from the United Kingdom to the continent post-Brexit. The number of workers affected is not yet known, but the choice of Brussels as an alternative subsidiary location has been confirmed. The CEO of the London insurance market provider confirmed the information to the Prime Minister yesterday (Wednesday)

Mr Michel has been in regular contact with the Chairman of Lloyd’s, John Nelson. Both men were able, specifically, to meet at the World Economic Forum in Davos. There the Prime Minister had outlined the government’s plans to make Brussels a major financial centre. Mr Michel commented enthusiastically to the Belga press agency, “We knew that Brussels was on the ‘short list’.” He concluded, “It was clearly useful for us to make contact.”

The Brussels Times

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